Compensation Analyst

Kennedy Krieger Institute•Baltimore, MD

5h•$72,770 - $129,819

About The Position

The Compensation Analyst will research job requirements and evaluate job positions to ensure the Institute is competitive in the areas of salaries and employee total compensation. Analyzes, models, recommends, administers, and evaluates compensation programs, including base pay, long and short-term incentives, and spot bonuses, that align with Institute objectives for recruiting, retention, and employee engagement. Reviews, models, recommends and communicates pay structures, grades, and compensation designs and guidelines. Advises managers on making effective pay decisions that support employee engagement and comply with compensation policy. Evaluates jobs and develops and maintains job descriptions. Conducts research and analysis on market competitiveness, pay equity, and compensation trends. Plans, conducts or oversees regularly scheduled and as-needed compensation-related audits.

Requirements

Bachelor’s degree in Human Resources, Business Administration, Finance, or related field required.
Two years’ experience in business, human resources and/or compensation is required.

Nice To Haves

PHR/SHPR, SHRM-CP/SHRM-SCP, and/or Certified Compensation Professional (CCP) certification preferred.
Experience in a healthcare setting is preferred.

Responsibilities

Interviews and surveys employees and managers to gather and document job, organizational, and occupational information including duties, responsibilities, and skills required by each job.
Organizes and submits organizational compensation data for selected compensation surveys, benchmarks jobs, to include clinical and non-clinical positions, against comparative survey data and other market intelligence to determine competitive compensation ranges for each position.
Evaluates annual salary increase trends and makes recommendations accordingly. Coordinates the annual merit or across-the-board salary increase process.
Prepares, analyzes, and maintains job classifications and pay grade structures.
Researches employee compensation in similar industries; based on findings, refines or develops models and recommends changes or updates to the Institute’s existing practices or policies.
In collaboration with HR Leadership, develops compensation policies and practices.
Advises HR Business Partners (HRBPs) and Talent Acquisition on compensation best practices and on communicating how internal compensation is market competitive.
Prepares and presents summary reports of job analysis and compensation analysis information.
Gathers data from employee feedback and market-based compensation surveys; uses spreadsheet and data analysis techniques to assess results and market trends.
Evaluates and implements job analysis instruments and materials. Further develops existing survey tools, evaluates and recommends new tools, and enhances benchmarking capabilities for key positions.
Conducts data and cost analyses to be used in employee negotiations. Works with Talent Acquisition and HRBPs to evaluate sign-on bonuses, retention bonuses, and incentive compensation plans; assesses the effectiveness of those programs.
Advises management on applicable local, state and federal compensation-relevant statutes, regulations and requirements.
Reviews and reconciles compensation-related data and collaborates with Business Solutions to improve data collection and storage techniques.
Collaborates with Institute leadership and HRBPs to provide compensation, job concept, and job structure strategies.
Conducts and coordinates internal audits; generates reports for HR Leadership related to internal equity to ensure fair and equal pay practices.