Compensation Analyst

Lurie Children's Hospital • Chicago, IL

1d • $70,720 - $115,627 • Onsite

About The Position

Assists in the development and administration of organization-wide compensation programs. Prepares salary analyses for determination of organization’s job market competitiveness. Monitors market changes and recommends company compensation plan changes, as needed. Reviews job descriptions and assesses appropriate classification and compensation level. Participates in and completes market salary surveys and utilizes an online pricing tool to price jobs and benchmark to market anchors.

Requirements

• Bachelor’s degree required.
• Minimum two years of direct compensation experience, or three years of related experience if not directly in the compensation area.
• Solid working knowledge of compensation, salary market surveys and analysis.
• Knowledge of applicable federal and state employment, labor, and wage and hour laws.
• Must possess excellent verbal, written and interpersonal communication skills, to establish rapport and effectively interact with all levels of management and staff employees.
• Strong mathematical aptitude and data analysis skills.
• Ability to manage and prioritize multiple projects and work effectively with minimal direction and supervision.
• Strong personal computer proficiency including Windows, Microsoft Word, Excel, and Access.
• Strong working knowledge of human resources information systems and report generation

Nice To Haves

• Preferred field of study: Finance, Business Administration, or Human Resources.
• An equivalent combination of education and/or experience may be considered in lieu of a degree when the experience is directly related to the functions of the role.
• experience with Workday, preferred

Responsibilities

• Assists in development and administration of organization-wide compensation programs.
• Assures, through audits, reports, and personal contact, that organization compensation programs are consistently administered in compliance with company policies and government regulations.
• Provides guidance and assistance to the Human Resources team, Lurie Children’s management, and employees on compensation programs while adhering to hospital and regulatory guidelines.
• Maintains and updates compensation policies and procedure documents and related materials (salary structures, job code listing, etc.)
• Participates in and completes market salary surveys.
• Maintains the organization’s market pricing tool/database for all organizational jobs.
• Assesses market competitiveness, internal equity, and position salary grade assignments.
• Collaborates with management to determine cost, budget, and adjustments to ensure fair and competitive pay practices.
• Performs salary analyses/assessments and drafts related recommendations and costing when necessary for analyzing market trends and internal equity alignment.
• Evaluates new or revised job descriptions and position reclassification requests and recommends salary range assignment in cooperation with management staff and HR partners including appropriate communication and follow through of approved implementation.
• Oversees the maintenance of the job description library to ensure current and accurate documents for all positions.
• Ensures job descriptions meet all regulatory standards.
• Audits and determines the FLSA (Fair Labor Standard) classification of positions based on Department of Labor regulations and guidelines.
• Acts as the compensation liaison and consultant to Payroll for compensation practices, policies, and procedures.
• Assists in developing training for HR and business partners on compensation processes.
• Keeps informed on trends and regulatory changes relevant to compensation administration and compliance.
• Performs job functions adhering to service principles with customer service focus of innovation, service excellence and teamwork to provide the highest quality care and service to our patients, families, co-workers, and others.
• Other job functions as assigned.

Benefits

• Medical, dental and vision insurance
• Employer paid group term life and disability
• Employer contribution toward Health Savings Account
• Flexible Spending Accounts
• Paid Time Off (PTO), Paid Holidays and Paid Parental Leave
• 403(b) with a 5% employer match
• Supplemental Life, AD&D and Disability
• Critical Illness, Accident and Hospital Indemnity coverage
• Tuition assistance
• Student loan servicing and support
• Adoption benefits
• Backup Childcare and Eldercare
• Employee Assistance Program, and other specialized behavioral health services and resources for employees and family members
• Discount on services at Lurie Children’s facilities
• Discount purchasing program

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level