Compensation and Benefits Specialist

4 weeks ago

Owosso, Michigan, United States Memorial Healthcare Full time
POSITION OVERVIEW

Under the guidance of the Talent Management Manager, this role is essential in overseeing and executing the organization's total rewards initiatives, encompassing both compensation and benefits. The successful candidate will possess a comprehensive understanding of total rewards strategies, exceptional analytical capabilities, and effective communication skills to engage with employees across all levels. The individual will strive for excellence by consistently delivering services that enhance the experience of patients and their families, demonstrating a commitment to patient-centered care.

REPORTING STRUCTURE

Reports To: Manager of Talent Management

Supervisory Responsibilities: None

Collaborative Relationships: Leaders, employees, vendors, and both internal and external stakeholders.

KEY RESPONSIBILITIES
  1. Assist in the design, execution, and management of the organization's compensation frameworks, including salary structures, bonus schemes, and incentive plans.
  2. Ensure internal job equity by assessing and categorizing appropriate roles.
  3. Facilitate external compensation equity by engaging in pay surveys and analyzing compensation data.
  4. Conduct compensation benchmarking for new hires to ensure both internal fairness and market competitiveness.
  5. Identify trends and opportunities for ongoing enhancement of total rewards initiatives.
  6. Maintain job descriptions and validate job requirements through job analysis, including interviews and observations.
  7. Contribute to the development and maintenance of pay structures by calculating pay grades and ranges.
  8. Create reports and dashboards to monitor key metrics and provide insights to the Talent Management team and organizational leaders.
  9. Serve as a resource for employees regarding benefits programs, including health, dental, vision insurances, and retirement plans.
  10. Coordinate open enrollment activities and assist employees with benefits-related inquiries.
  11. Collaborate with benefits providers to address and resolve issues.
  12. Ensure compliance with Federal, State, and local legal requirements to mitigate legal challenges.
  13. Lead and support Talent Management projects as needed.
  14. Monitor labor cost trends and develop or revise the labor cost budget as necessary.
  15. Contribute to the formulation of communication strategies, policies, and documents related to compensation programs to align with the organization's philosophy and values.
  16. Drive optimization by actively participating in continuous improvement initiatives.
  17. Stay informed of industry trends and best practices in total rewards.
  18. Exhibit knowledge of and support the hospital's mission, vision, values, standards, policies, procedures, confidentiality protocols, corporate compliance plans, customer service standards, and ethical behavior codes.
ADDITIONAL RESPONSIBILITIES
  1. Provide support to the department by assisting team members as directed.
  2. Perform other duties as assigned.
QUALIFICATIONS

EDUCATION
  1. Bachelor's degree in Human Resources or a related discipline is preferred.
  2. Certification in Human Resources, such as PHR or SHRM-CP, is preferred.
EXPERIENCE
  1. Proven understanding of compensation principles and practices is required.
  2. A minimum of 4 years of experience in Human Resources with a focus on compensation, benefits, or total rewards is required.

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