What are the responsibilities and job description for the Compensation Specialist - Hybrid/Remote - Somerset, NJ position at RWJBarnabas Health?
Job Overview:
The Compensation Specialist supports the design, implementation and administration of compensation programs and policies. Serves as the analytical backbone of the Compensation Team. The Compensation Specialist is responsible for the integrity of external market data and the smooth operation of the annual compensation planning process.
Qualifications:
Required:
- BS Degree in Human Resources Management or a relevant discipline required.
- Ability to manage projects of varying complexity
- Attention to detail
- Strong Excel skills
- Highly analytical; ability to leverage and analyze data
Preferred:
- A minimum of 4 years of experience in Compensation, financial analysis, or other related experience preferred
- CCP certification is preferred
Essential Functions:
- Accountable for the salary survey submission process. Tracks surveys and due dates. Prepares compensation profile, position matches and data compilation for salary survey submission.
- Supports the annual market pricing process, will analyze salary survey results to assess market competitiveness, and effectiveness of pay related program. Makes recommendations based on data and analysis.
- Supports the job evaluation process by conducting job description evaluations. Appropriately places/slots jobs within the system compensation structure to ensure external market competitiveness and internal equity.
- Builds & maintains annual compensation calendar. Partners with the compensation team to organize key projects and milestones throughout the year. Partners with Benefits & Retirement to determine any overlaps and leverage synergies.
- As requested, conducts market analysis for individual employees/titles and develops recommendations for pay adjustments, promotional or developmental increases, and hiring ranges. Will work with Talent Acquisition to develop candidate offers.
- Point person for MSP (My Service Portal) requests. Responds to inquiries in a timely fashion and collaborates with other members of the compensation team, as needed, to ensure appropriate responses.
- Compile, analyze, interpret and/or process data to support HR needs. Including, but not limited to -- union negotiations, annual bonus process, year-end transfers, and mass pay rate adjustments.
- Performs special projects as assigned, may include ad-hoc research, analysis and conducting surveys in order to provide guidance on current and future Compensation programs.
Other Duties:
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.
At RWJBarnabas Health, our market-competitive Total Rewards package provides comprehensive benefits and resources to support our employees physical, emotional, social, and financial health.
- Paid Time Off (PTO)
- Medical and Prescription Drug Insurance
- Dental and Vision Insurance
- Retirement Plans
- Short & Long Term Disability
- Life & Accidental Death Insurance
- Tuition Reimbursement
- Health Care/Dependent Care Flexible Spending Accounts
- Wellness Programs
- Voluntary Benefits (e.g., Pet Insurance)
- Discounts Through our Partners such as NJ Devils, NJ PAC, Verizon, and more!
Choosing RWJBarnabas Health!
RWJBarnabas Health is the premier health care destination providing patient-centered,
high-quality academic medicine in a compassionate and equitable manner, while delivering
a best-in-class work experience to every member of the team. We honor and appreciate the privilege of creating and sustaining healthier communities, one person and one community at a time. As the leading academic health system in New Jersey, we advance innovative strategies in high-quality patient care, education, and research to address both the clinical and social determinants of health.
RWJBarnabas Health aims to truly make a unique impact in local communities throughout New Jersey. From vastly improving the health of local residents to creating educational and career opportunities, this combination greatly benefits the state. We understand the growing and evolving needs of residents in New Jersey whether that be enhancing the coordination for treating complex health conditions or improving community health through local programs and education.
Equal Opportunity Employer
