JERICHO HR GROUP
Compensation Analyst - Chicago, IL
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Compensation Analyst

Location: Chicago, IL

 

 

Reporting to the Compensation Manager performs a variety of compensation functions including development, maintenance and administration of the company's various compensation programs.

 

  • Conducts, participates in, and analyzes organization-wide and discipline and industry specific market salary surveys on compensation practices. Researches required and special requests for compensation data. Interprets data points and interpolates various data sources to aggregate to company's target market for comparison. Creates spreadsheet analysis and summary reports to be used in reviewing and recommending compensation initiatives or job re-evaluations for department Directors. Conducts internal employee data and compensation analysis to recommend deviations from salary administration policies, determine market pay ranges, or special salary adjustments.
  • Develops and revises job descriptions and Key Results Areas (KRA's) in conjunction with department Directors. Consults with Directors on detailed job content and ensures minimum skills and knowledge are appropriately determined to recruit qualified applicants and set performance standards that meet hospital needs/standards and Joint Commission requirements. Evaluates job descriptions to determine salary structure and grade assignment based on relevant market survey data, internal job equity analysis, recruitment and retention initiatives, and alignment of the job with the organizations targeted market placement.
  • Functions as a consultant to the organization on compensation and special pay program issues or requests. Meets with department management to analyze issues, conduct ad-hoc compensation surveys and analysis, consider solutions, approve special payments, and/or develop special pay programs that maintain fairness/equity and meet the organization's needs. Documents special pay program criteria, guidelines, and payment administration processes that comply with audit and control requirements. Contributes to the development of compensation policies and procedures through research, analysis and process development. Participates in and/or leads special projects as requested. Maintains current knowledge of laws and regulations that may impact the Hospital's salary administration.
  • Conducts extensive analysis of company's primary and secondary market survey sources for development of the organization wide review and recommendation for adjustment of company's multiple staff and Director level salary structures. Researches outliers with survey vendors, compiles data spreadsheets by structure for developing different data aging and target market comparisons. Analyzes salary structure specific and individual level jobs for changes in market salary range, average pay, differential, registry rate movement and the hospitals overall annual merit increase budget. Recommends and costs all appropriate compensation structure and program adjustments based on company's unique recruitment and retention needs and to retain the hospital's competitive position in the marketplace.
  • Oversees updating, testing and implementing the compensation related HRIS programs and processes required to ensure that all changes to company salary structures, grades, employee minimum base rate and market adjustments are successfully updated. Coordinates programming changes, testing and reporting requirements with the HRIS Manager. Develops and oversees the implementation schedule and communication plan for the annual compensation structure changes with HRIS, Employment, Payroll and department heads.
  • In conjunction with the Vice President, determines appropriate market survey data sources to develop the annual analysis of company's Senior Leadership total compensation program. Collaborates with survey vendors and company's compensation consultant to analyze and prepare various sorts for data for review by the Board.

 

Qualifications:

  • Bachelor's Degree in a related field or equivalent Human Resources Compensation experience.
  • Minimum of (3) three years of progressively responsible human resource compensation experience in salary survey analysis and job description development and evaluation required.
  • Advanced knowledge of and experience with using excel spreadsheets, including creating complex formulas across multiple data scenarios required.
  • Familiarity with HRIS systems data gathering, manipulation, and reporting functions.
  • CCP Certification strongly preferred.
  • Strong analytical skills necessary to design and evaluate jobs and to analyze, identify, and create solutions to compensation and pay practices problems.
  • The written and verbal communication skills necessary to consult with and advise all levels of hospital management in the development and documentation of thorough job descriptions and performance standards.
  • The organizational skills necessary to independently manage projects and numerous market and structure adjustment processes with HRIS and IT resources, and compensation consultants.
  • Hospital/Healthcare experience would be an asset

 

 

If you are interested and qualified, please send a "Word" copy of your resume/CV and salary requirements to the address below.  When applying, please indicate the job and the location in the subject line of your e-mail. 

 

Jericho HR Group

www.jerichohr.com

jobs@jerichohr.com

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