Northwell Health - Lake Success, NY
posted 2 months ago
The Compensation Analyst plays a crucial role in analyzing, verifying, tracking, and reporting on compensation programs within the organization. This position is responsible for conducting job evaluations and analyses for assigned functional areas, ensuring that the health system's job design aligns with market standards and is equitable internally. The role requires a hybrid work schedule, with one day a week required in the office located in Lake Success, NY. In this position, the analyst will evaluate jobs by reviewing job descriptions and analyzing best practices and benchmark data from both internal and external sources. This evaluation process is essential to maintain the health system's competitive edge in the job market. The Compensation Analyst will coordinate with department heads to develop and modify job descriptions in accordance with organizational requirements, ensuring that all job roles are accurately represented and aligned with market expectations. The analyst will continually review the health system's comparative position relative to market data, determining appropriate salary grades and job attributes. This involves modeling compensation alternatives, costing out changes, and making recommendations based on findings. Collaboration with HRIT is also necessary to create report templates that meet the compensation reporting needs of the organization. Compliance is a key aspect of this role, as the analyst must ensure that all statutory, regulatory, and organizational requirements are met, including adherence to the Fair Labor Standards Act (FLSA) and other relevant regulations. The Compensation Analyst will also work closely with Labor and Employee Relations and Talent Acquisition teams, participating in special projects such as reorganizations, acquisitions, and across-the-board increase processes. The position operates under general guidance, with varied work assignments that require interpretation and independent decision-making. The analyst will also be responsible for completing timely and accurate salary surveys and analyzing results as necessary. All responsibilities outlined are considered essential functions of the job under the Americans with Disabilities Act, and related duties may also be assigned as needed.