Principal Compensation Analyst

CentraCare•Saint Cloud, MN

5h•$106,180 - $159,259•Remote

About The Position

CentraCare is seeking a Principal Compensation Analyst to lead the development and implementation of advanced compensation strategies, with a particular focus on executive compensation. In this role, you will manage comprehensive market analyses, including industry-specific surveys, and design innovative salary structures to ensure competitive and equitable pay across the organization. You will be responsible for developing advanced job evaluation methodologies, leading organization-wide compensation surveys, and shaping strategic compensation planning initiatives. Additionally, you will provide expert guidance on compensation regulations, ensuring compliance and providing actionable recommendations for executive decision-making. As a subject matter expert, you will lead the design and communication of executive compensation strategies, working closely with leadership to align compensation programs with organizational goals. You will also be responsible for developing and implementing new compensation policies, creating communication and training programs to ensure organizational understanding, and addressing complex workforce challenges with innovative solutions. This role requires strong analytical skills, a strategic mindset, and a deep understanding of compensation trends and regulations.

Requirements

Bachelor's Degree in Human Resources, Business or related field
7+ years' experience in the compensation field to include strong analytical and computer/spreadsheet background

Nice To Haves

Previous experience working in human resources preferred
Previous experience in a hospital setting preferred
Certified Compensation Professional (CCP) Preferred

Responsibilities

Provides company-wide strategic leadership for compensation philosophy, frameworks, and governance.
Lead and deliver organization-wide, high-impact compensation projects and initiatives that drive strategic outcomes, improve programs and processes, and support business priorities.
Lead the design, governance, and administration of executive compensation programs, including base salary, incentive plans, and deferred compensation arrangements.
Support the design, modeling, and administration of pay differentials and incentive programs tied to quality, productivity, patient experience, and financial performance.
Analyze plan effectiveness and recommend improvements to drive desired clinical and operational outcomes.
Acts as the highest-level subject matter expert and trusted advisor to HR Business Partners and senior leaders on complex compensation matters. Partners directly with senior and executive leadership to influence decisions.
Provide consultative guidance on offers, promotions, retention strategies, and restructuring scenarios to compensation analysts and HR Business Partners to ensure sound, consistent, and market-aligned decisions.
Define company market pricing strategy, survey participation approach, and benchmarking philosophy. Oversee market pricing methodology and governance, ensuring consistency, scalability, and alignment with business strategy.
Develop and maintain compensation dashboards, reports, and models. Leverage HRIS and analytics tools to deliver insights on pay, incentives, and workforce trends.
Conduct advanced market pricing using healthcare-specific compensation surveys for clinical and non-clinical roles. Evaluate regional labor market dynamics, union environments, and hard-to-fill role premiums.
Monitor and analyze healthcare compensation practices—including shift differentials, on-call pay, sign-on and retention incentives, and geographic pay variations—and develop data-driven recommendations aligned with market trends and leading practices.
Recommend salary structures, ranges, and differentials that balance competitiveness, affordability, and internal equity.
Partner with Sr Compensation Analysts to evaluate and recommend survey vendors and pricing tools.
Assess emerging markets and regulatory trends; recommend strategic responses.
Set standards, review complex analyses, and guide compensation best practices across the organization.
Prepare clear, data-driven recommendations and executive-level presentations.
Ensure data accuracy, integrity, and governance across compensation processes.
Provide ongoing coaching, mentoring, and skill development for compensation analysts to strengthen analytical capability, consistency, and application of compensation best practices.