Compensation Analyst

Client is a healthcare system serving the Southern Tier of New York and the Northern Tier of Pennsylvania. Operations medical centers, hospitals, and/or other healthcare facilities.

Commitment to Quality Care
Career Development Opportunities
Competitive Pay
Benefits
Community Impact

We are seeking a dynamic and experienced Compensation Analyst to join our team in the healthcare industry. This is a permanent position that offers a unique opportunity to be a part of a team that is at the forefront of compensation and benefits analysis. As a Compensation Analyst, you will be responsible for the design, implementation, and ongoing evaluation of the organization's compensation and benefits programs. This includes salary structures, base pay, incentive pay, health and welfare benefits, and retirement benefits. You will play a key role in budget planning, incentive planning, and market data analysis, ensuring that our compensation strategies are competitive, sustainable, scalable, and have an impact on the short and long-term performance of our organization.

Responsibilities:
1. Conduct market research to understand current compensation trends and forecast future trends.
2. Develop, implement, and manage the organization's compensation strategy and programs.
3. Analyze and evaluate the organization's current compensation structure and make recommendations for improvements.
4. Collaborate with HR and management to understand departmental needs and develop compensation plans that attract and retain top talent.
5. Oversee the administration of direct compensation (executive, exempt and nonexempt cash compensation programs) including the processing, recording, and reporting of compensation-related actions.
6. Prepare budgetary recommendations and assist in the development and management of the compensation budget.
7. Develop and implement incentive planning strategies to motivate employees and increase productivity.
8. Evaluate and revise benefits programs to ensure they are current, competitive, and in compliance with legal requirements.
9. Prepare detailed reports and presentations for management, demonstrating the effectiveness of compensation and benefits strategies.

Qualifications:
1. Bachelor's degree in Human Resources, Finance, Business Administration, or a related field.
2. Minimum of 3 years of experience as a Compensation Analyst or in a similar role in the medical industry.
3. Strong knowledge of compensation practices, including but not limited to, job evaluations, market pricing, salary structure design, and incentive plan design.
4. Proficiency in budget planning and financial analysis.
5. Excellent analytical skills with the ability to interpret complex data and provide actionable insights.
6. Strong knowledge of benefits administration and compliance.
7. Excellent communication and presentation skills, with the ability to effectively communicate complex compensation information to all levels of the organization.
8. Proficiency in HRIS and compensation management software.
9. Certified Compensation Professional (CCP) certification is preferred.