What are the responsibilities and job description for the Compensation Analyst - Regional One Health HR position at The Regional Medical Center of Memphis?
A Brief Overview
The Compensation Analyst works under direct supervision to support the administration of Regional One Health compensation programs and initiatives. The incumbent performs compensation analysis and research to support business needs. Responsibilities will include developing and maintaining job descriptions, market assessment of jobs, job evaluation and FLSA classification, and internal equity reviews.
What you will do
- Identifies, collects, analyzes, and presents data and information for compensation decisions and recommendations.
- Collects, analyzes, and maintains data to ensure Regional One Health wage and salary programs are consistent with organizational compensation philosophy, business goals & strategies.
- Translates findings into actions and deliverables, with direct oversight.
- Conducts compensation reviews for jobs and participates in and analyzes results from salary surveys, determines appropriate job matches, and assesses market competitiveness relative to our competitive market.
- Presents recommendations to ensure competitive, cost-effective, and legally compliant compensation programs and practices.
- Prepares cost analysis and projections for annual compensation reviews, internal equity reviews, and other pay practices.
- Serves as an effective business partner to internal clients, providing guidance and consultative assistance with respect to compensation issues and programs.
- Provides compensation related guidance and support to HR, department, and leaders as requested. Facilitates meetings to seek solutions and drive collaborative decision-making.
- Builds relationships with assigned client groups to acquire a solid understanding of the business needs and jobs performed within the client group.
- Works collaboratively with HR partners and department leaders to develop career ladders and career paths to provide staff with appropriate career advancement opportunities.
- Provides information or analyzes to assist HR partners and management in understanding and resolving compensation issues.
- Assists with compensation operational processes such as premium pays, market adjustments, shift differentials, bonus requests, exception requests, etc.
- Consistently delivers timely service, initiates regular follow-ups, and follows through on commitments. Communicates alternatives when deliverables cannot be met as indicated.
- Works closely with compensation team members to ensure decisions are contemplated using a wide-angle system view. Keeps management informed of work-in-process and project status.
- Creates and modifies jobs / job descriptions; conducts effective job evaluations.
- Partners with HR colleagues and leaders to develop new jobs and revise existing jobs. Ensures job descriptions meet department standards and accurately reflect the key job duties and requirements.
- Researches minimum requirements to ensure they meet regulatory, licensing and / or credentialing standards. Clarifies and assists with function-specific leveling factors.
- Conducts job evaluations and recommends grade assignment, job level, title, and FLSA status.
- Maintains documentation, files, and support materials for evaluations according to compensation department standards. Ensures consistency of decisions and coordination with other compensation and human resource partners.
- Assists with special projects and participates in groups as needed.
- Assists with new project implementations.
- Provides support for on-going projects or initiatives, as requested.
- Remains current with new or proposed legislation / regulations related to the compensation field. Monitors compliance with all compensation related federal and state regulations.
Qualifications
Physical Demands
Regional One Health is committed to diversity and inclusion. We are an equal opportunity employer including veterans and people with disabilities.
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