Compensation Analyst

Summary:

The Compensation Analyst will be responsible for analyzing and evaluating Riverside Healthcare’s compensation structure to ensure competitiveness and alignment with business objectives. This role requires a deep understanding of compensation principles, excellent analytical skills, and the ability to communicate effectively with stakeholders at all levels of the organization.

Experience/Education Requirements:

• Bachelors degree in Human Resources, Business Administration, Finance, or a related field. Masters degree or professional certification (e.g., Certified Compensation Professional) is a plus.
• 3+ years of experience in compensation analysis or a related role, preferably in a corporate HR environment.
• Strong analytical skills with the ability to interpret complex data sets and draw meaningful insights.
• Proficiency in Microsoft Excel and experience with compensation analysis tools or software (e.g., PayFactors, Mercer Win).
• Excellent communication and interpersonal skills, with the ability to collaborate effectively with colleagues at all levels of the organization.
• Detail-oriented with a high level of accuracy and discretion when handling sensitive compensation information.
• Knowledge of relevant laws and regulations governing compensation and pay transparency practices, such as the Fair Labor Standards Act (FLSA) and Equal Pay Act.
• Familiarity with Paylocity preferred.
• Ability to work independently, manage multiple priorities, and meet deadlines in a fast-paced environment.

License or Certification Requirements:

• Certified Compensation Professional preferred.

Responsibilities:

• Compensation Analysis: Conduct detailed analysis of Riverside’s compensation programs, including salaries, supplemental and variable pay, to ensure they are competitive within the industry and support our talent retention and attraction strategies along with alignment to organizational compensation philosophy.
• Market Research: Stay abreast of industry trends and best practices in compensation and benefits. Conduct regular benchmarking salary studies to compare our compensation packages based upon compensation philosophy and provide recommendations for adjustments as needed.
• Job Evaluation: Evaluate new and existing positions within the organization to determine appropriate job classifications, salary ranges, and incentive opportunities based on factors such as job responsibilities, qualifications, and market data. Maintains salary structure and job architecture for the health system.
• Compensation Planning: Collaborate with Recruitment staff, hiring managers, Finance and executive team, to develop and implement compensation plans for new hires, promotions, and transfers. Ensure that compensation decisions are fair, equitable, and compliant with policies and relevant regulations including the compensation philosophy for the health system.
• Annual Compensation Review: Lead the compensation review process, including merit increases, and supplemental pay. Prepare and present reports and recommendations to senior leadership and participate in discussions to finalize compensation decisions on both an ongoing and formal annual basis.
• Data Analysis: Collect, analyze, and interpret data related to compensation and employee demographics to identify trends, outliers, and areas for improvement. Prepare comprehensive reports and presentations to communicate findings to key stakeholders.
• Policy Development: Assist in the development and maintenance of compensation policies and procedures. Ensure our compensation practices are transparent, consistent, and aligned with our organizational values and goals. Maintains pay administration and benchmarking guides and conducts training for leaders and staff to assure consistency of communication.
• Compliance: Stay informed about relevant laws and regulations governing compensation practices, such as the Fair Labor Standards Act (FLSA) and Equal Pay Act including pay transparency. Completes EEO, equity, Equal Pay Act and other governmental required reporting. Ensure our compensation programs comply with all legal requirements and provide support during audits or investigations as needed as part of the total rewards package for employees.
• Auditing: Maintains and establishes processes to prevent pay errors, including conducting audits to maintain integrity of compensation structures and associated computer systems.