Compensation Analyst

General Summary of Position
Supports the development and administration of compensation programs and policies designed to attract motivate reward and retain the most qualified employees. Evaluates jobs across various healthcare sectors for MedStar; collects and analyzes market data and investigates internal equity to make appropriate compensation recommendations to HR business partners and management. Participates in market surveys conducted by third-party administrators. Oversees the job description process and provides guidance to Human Resources and management. Participates in the annual merit and market process.

Primary Duties and Responsibilities

• Assists in developing administering and maintaining compensation policies and special pay practices. Interprets and explains compensation-related policies and practices to HR business partners and management. Serves as a consultant to HR and department leaders in designing and implementing special pay programs (productivity bonuses premiums etc.). Collaborates with HR business partners across entities as appropriate to ensure that internal equity and systemness are maintained.
• Contributes to the achievement of established department goals and objectives and adheres to department policies procedures quality standards and safety standards. Complies with governmental and accreditation regulations.
• Effectively utilizes available software packages to obtain maintain and report accurate data for analysis. Maintains job code and related information in the HRIS system and associated compensation databases. Assists in the system administration of the Talent REWARD compensation system Success Factors Job Description module and Access databases performing updates and back-ups on a regular basis.
• Ensures integrity of compensation-related HRIS data through regular audits; researches and notifies HR of the appropriate action to correct discrepancies and ensure compliance.
• Maintains ownership and oversees development and enhancements to the merit tool. Provides appropriate training and communication to HR staff and users and provides user support when necessary. Monitors system for potential problems.
• Monitors trends in the competitive market through networking research and review of published surveys and reports. Recommends modifications to ensure programs continue to align with best practices and MedStar's compensation philosophy.
• Participates in multidisciplinary quality and service improvement teams and in meetings and committees.
• Participates in salary surveys conducted by third-party administrators to secure relevant market data. Analyzes and interprets results.
• Participates in the administration of the annual merit and market process which includes but is not limited to market pricing each job making recommendations for change producing reports and presentations and implementing approved increases.
• Performs internal equity studies and makes recommendations for equity increases. Prepares cost analysis of recommendations. Develops regional hiring guidelines for key positions.
• Performs other duties as assigned.
• Provides analytical and project management support on compensation-related projects i.e. new business acquisitions conversions to PeopleSoft and Talent Manager (Success Factors) systems and system-wide initiatives. Advises on best practices throughout the organization.
• Reviews requests for new and revised positions. Evaluates jobs based upon market analysis and internal comparisons. Determines grade designations and FLSA classifications; assigns job codes and titles.
• Reviews edits and approves job descriptions using input from Human Resources and department leaders. Maintains up-to-date job descriptions in Talent Manager.
• Works with Payroll HRIS and ERP team members to design and implement system changes required for new/revised policies pay practices and earnings codes.

Minimal Qualifications
Education

• Bachelor's degree in Human Resources Business or related field or an equivalent combination of education and related experience required

Experience

• 3-4 years professional-level human resources experience required
• Compensation experience strongly preferred

Licenses and Certifications

• No special certification registration or licensure required

Knowledge Skills and Abilities

• Working knowledge of compensation systems principles of wage and salary administration and market pricing methodology.
• Strong analytical and problem-solving skills.
• Advanced working knowledge of Microsoft Word Excel and Access software applications.
• Working knowledge of marketing pricing software and Success Factors system preferred.
• Effective verbal and written communication skills.