Compensation Analyst

Akron Children's Hospital - Akron, OH

Full-time - Mid Level

Remote - Akron, OH

Hospitals

About the position

The Compensation Analyst at Akron Children's Hospital plays a crucial role in managing and administering compensation plans for staff and management, while also supporting executive and physician compensation. This position involves conducting market analyses, making recommendations for salary structures, and ensuring compliance with compensation policies and regulations. The role requires collaboration with various teams to enhance compensation practices and support organizational goals.

Responsibilities

• Conducts, analyzes and makes recommendations for market pricing, salary administration, salary structure building, annual adjustments and incentives, and supplemental pay programs.
• Provides support to Human Resource team members on retention, rewards and recognition programs and providing and analyzing needed data for team members to make informed decisions.
• Assesses, costs, designs, analyzes, and implements both internal and external compensation practices, recommending improvements for staff and leadership compensation programs.
• Manages and participates in job audits, various analyses, governmental reporting and salary/job surveys, including creating and updating job descriptions, evaluating jobs, performing market searches, analyzing data, and making applicable recommendations to leadership.
• Reviews and monitors employee pay and recommends reviews.
• Serves as a resource to managers, HR staff, and Leadership regarding compensation issues and market trends related to compensation; provides advice on pay decisions, policy and guideline interpretation, and job evaluation.
• Supports Leaders in creating and updating positions and job descriptions.
• Provides reports to Human Resource team members to help inform hiring and retention decisions.
• Supports third-party external audits in maintaining integrity through our systems and procedures to ensure alignment with State and Federal laws and annual compensation surveys.
• Conducts and analyzes weekly and bi-weekly internal audits and makes any recommended adjustments.
• Partners with the Human Resource Information Systems (HRIS) team and Leadership to evaluate current processes and recommend improvements.
• Coordinates, develops, and provides education, training, and materials to Leaders and employees on compensation policies, guidelines, and practices.
• Conducts the annual increase and management incentive plan (MIP) processes and collaborates with leaders on eligibility, guidelines, policies, and procedures.
• Ensures all compensation procedures are documented and added/modified/updated throughout the year.
• Stays abreast on all Compensation initiatives and maintains a working knowledge of compensation programs throughout the organization.
• Other duties as required.

Requirements

• Bachelor's degree in human resources, business administration, or related field required; master's degree preferred.
• Minimum three (3) years of experience in compensation preferably in a healthcare or medical facility setting or a minimum of (5) years of experience in a related field.
• Experience in administering compensation programs is required.
• Experience working with all levels within an organization is preferred.
• Experience in quantitative analysis and modeling is required.
• Knowledge of Federal and State wage and salary laws and regulations required.
• Demonstrated computer skills, including word processing and spreadsheet/database functions.
• Proficiency in MS Office [Outlook, Excel, Word] or similar software is required.
• HRIS software is required.
• Compensation benchmarking databases/tools is required.
• Ability to gather and analyze statistical data and generate reports.
• Strong interpersonal, communication (verbal and written), time management and customer service skills required.
• Detail oriented with an understanding of maintaining confidential and privileged information.

Nice-to-haves

• Certified Compensation Professional (CCP) certification preferred.
• Professional in Human Resources (PHR) certification preferred.
• Senior Professional in Human Resources (SPHR) certification preferred.

Benefits

• Remote work opportunity
• Full-time position
• Flexible working hours