Senior Compensation Specialist

2 weeks ago


Chicago, Illinois, United States Northwestern Memorial Healthcare Full time
Job Overview

Company Overview:
At Northwestern Medicine, we prioritize every patient interaction, fostering a positive work environment. Our commitment to a patient-first philosophy distinguishes us as a leader in the healthcare sector. We offer competitive benefits, including tuition reimbursement, loan forgiveness, 401(k) matching, and lifecycle benefits, ensuring we take care of our employees.

Position Summary:

The Senior Compensation Analyst embodies the mission, vision, and values of Northwestern Medicine, adhering to the organization's Code of Ethics and Corporate Compliance Program while complying with all relevant policies and regulatory standards.

Reporting to the System Compensation Manager, the incumbent will engage with various levels within the organization to support compensation strategies, pay programs, and policies, while also leading projects to deliver effective compensation solutions.

Key Responsibilities:
  • Market Analysis:
    • Coordinate and independently conduct base pay market assessments, including sourcing and analyzing internal and external job descriptions and compensation data, providing summarized findings and recommendations to the Compensation Manager and stakeholders.
  • Merit Review:
    • Gather and summarize external market data and trends for the annual salary increase budget, develop communication materials, and collaborate on salary plan ranges with management.
  • Incentive Programs:
    • Oversee the annual employee bonus program and develop additional incentive or special compensation programs as needed.
  • Job Evaluation:
    • Review and approve incoming job descriptions, determining salary plans and grades, and manage requests for job evaluations.
  • Additional Programs:
    • Conduct market research to assist in designing and reviewing Total Rewards and Talent Programs, including PTO, Physician Compensation, and Budgetary Analytics.
  • General Responsibilities:
    • Consult with management and employees on compensation practices, provide training on compensation policies, and authorize non-standard personnel actions.
    • Coordinate with payroll for payment processes and manage external salary survey submissions.
    • Maintain compensation data integrity in PeopleSoft and serve as a resource for current compensation practices.
    • Identify operational improvement opportunities and manage special projects as assigned.
  • Training and Development:
    • Conduct training sessions and town hall meetings, and provide expert advice on system updates related to Compensation Policies and Practices.
Qualifications:

Required:

  • Bachelor's degree in HR, Industrial/Organizational Psychology, Finance, or Business.
  • Minimum of 3 years of experience in Compensation (Significant HR/Business experience may be considered).
  • Familiarity with PeopleSoft or similar HRIS software.
  • Advanced skills in Microsoft Excel.
  • Strong project and time management abilities.
  • Excellent written and verbal communication skills.

Preferred:

  • Experience with board presentations and proficiency in PowerPoint.
  • Certification as a Compensation Professional (CCP) or Professional in Human Resources (PHR).
  • Master's Degree.

Equal Opportunity Employer:
Northwestern Medicine is an affirmative action/equal opportunity employer and does not discriminate in hiring or employment based on age, sex, race, color, religion, national origin, gender identity, veteran status, disability, sexual orientation, or any other protected status.



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