Compensation Analyst - CONTRACT

Epb - Chattanooga, TN

Full-time - Mid Level

Chattanooga, TN

Ambulatory Health Care Services

About the position

The Compensation Analyst will analyze and assist in the design and administration of EPB's compensation program to ensure alignment with company objectives for recruiting, retention, and employee engagement. This role is critical in providing insights and advice on making effective pay decisions that support employee engagement while complying with compensation policy and budgetary guidelines. The analyst will assist in the design and communication of pay structures, grades, compensation budgets, and guidelines. This position requires a strong analytical mind, excellent judgment, and a keen eye for detail, as well as the proven ability to leverage data to drive informed decisions. The Compensation Analyst will develop, implement, and maintain compensation structures, policies, and procedures to ensure internal equity and external competitiveness. They will ensure compliance with internal compensation policies as well as applicable Human Resource laws and regulations. Conducting comprehensive job analysis and evaluations to accurately assess the value of positions within the organization is a key responsibility. The analyst will perform compensation modeling for promotions, job awards, new hires, and developmental opportunities, presenting recommendations to leadership. Additionally, the analyst will assist with ensuring alignment of employee performance evaluations with compensation standards. They will benchmark jobs against survey data and other market intelligence to determine competitive compensation ranges for each position. Developing and maintaining compensation reports and dashboards to provide insights into compensation trends and patterns is also part of the role. Collaboration with Employee Services and Talent Acquisition to address compensation-related inquiries and provide guidance on salary adjustments, promotions, and bonus structures is essential. The analyst will participate in compensation planning and budgeting processes, gaining an in-depth understanding of current compensation practices to identify opportunities for improvement and develop recommendations for best practices. They will also maintain documentation of all compensation programs and stay up-to-date on compensation best practices and industry trends, while working alongside the HRIS Business Analyst to maintain the Compensation module in the HRIS.

Responsibilities

• Develop, implement, and maintain compensation structures, policies, and procedures to ensure internal equity and external competitiveness.
• Ensure compliance with internal compensation policies as well as applicable Human Resource laws and regulations.
• Conduct comprehensive job analysis and evaluations to accurately assess the value of positions within the organization.
• Perform compensation modeling for promotions, job awards, new hires, pathing, developmental, etc., and present recommendations to leadership.
• Assist with ensuring alignment of employee performance evaluations process with compensation standards.
• Benchmark jobs against survey data and other market intelligence to determine competitive compensation ranges for each position.
• Develop and maintain compensation reports and dashboards to provide insights into compensation trends and patterns.
• Collaborate with Employee Services and Talent Acquisition to address compensation-related inquiries and provide guidance on salary adjustments, promotions, and bonus structures.
• Participate in compensation planning and budgeting processes.
• Gain an in-depth understanding of current compensation practices to identify opportunities for improvement and develop recommendations for best practices.
• Assist with ensuring alignment of compensation plan with Corporate strategic objectives.
• Maintain documentation of all compensation programs and stay up-to-date on compensation best practices and industry trends.
• Maintain the Compensation module in the HRIS alongside the HRIS Business Analyst.
• Perform other related duties as assigned.

Requirements

• Bachelor's degree in Human Resources, Accounting, Finance, or related field required or equivalency.
• Two to four years of experience as a compensation analyst preferred.
• Strong analytical and problem-solving skills.
• Proficiency in data analysis and reporting tools (Excel, SQL, etc.).
• Working knowledge of human resource laws, regulations, and best practices.
• Excellent written and verbal communication skills.
• Excellent organizational and time management skills with a proven ability to meet deadlines.
• Ability to maintain confidentiality as well as work independently or as part of a team.
• Ability to successfully juggle multiple projects simultaneously in a fast-paced environment.
• Seasoned judgment as well as strong interpersonal and organizational skills including the ability to work effectively with a wide range of employees at all levels of the organization.