Job Description
The Compensation Analyst reflects the mission, vision, and values of NM, adheres to the organization’s Code of Ethics and Corporate Compliance Program, and complies with all relevant policies, procedures, guidelines and all other regulatory and accreditation standards.
Under the direction of the Compensation Manager, the incumbent will interact with all levels within the system to support the compensation strategy, pay programs and policies, as well as, provide assistance in the delivery of compensation solutions. This position will also be involved in Total Rewards and Talent Programs, including: PTO Program; Physician Compensation; Metrics/Forecasting Budgetary Analytics.
Responsibilities:
- Under the guidance of the Compensation Manager, provide feedback to Directors, Managers and employees based on thorough knowledge of compensation policies
- Manage special projects by determining project steps, how to accomplish goals, chairing committees, developing training and solutions to problems
- Familiar with Total Rewards and Talent Programs, including: PTO Program; Physician Compensation; Metrics/Forecasting Budgetary Analytics.
- Salary Changes:
- Adjudicate salary change requests including transfers, demotions and promotions, by applying knowledge of NMHC policies and practices
- Support Recruitment by maintaining Recruitment Calculator Tools to assist with offers and conduct internal equity reviews.
- Job Descriptions:
- Manage the process by which job descriptions are created, revised, reviewed and approved
- Assist in the determination of the appropriate pay grades for newly created positions by pulling market data internal and external to make appropriate recommendation to Compensation Manager
- Assign new job codes in PeopleSoft as appropriate and communicate change to MyHR Team to create position number
- Work with Recruitment in modifying or updating new job description for appropriate posting
- Review compliance with licensure/certification standards as required for The Joint Commission
- Work with Safety Department to assess Physical Demands and properly document in Job Description Addendum
- Assess whether the job should be included in Apparel Program
- Maintenance of the Job Description Library on NMI.
- Compensation Data Analysis:
- Participate in and conduct salary surveys, completing market surveys and compiling data from published sources
- Perform statistical analyses using a variety of tools in order to evaluate external competitiveness and provide data for setting pay during Market Review Process
- Complete analyses, benchmarking and tracking for all compensation and compensation-related benefits analyses
- Gather information, design and prepare material for presentation to Senior Management in support of various compensation activities including: Annual Salary Merit/Market Increase Budget Support; Seasonal Market Reviews by Job Family; and Bonus Programs, such as the Manager and Director Incentive Programs.
- Financial:
- Assist in the organization, tracking and payment of account payables (i.e. vendors and survey bills)
- Document, log and request special payments via the special pay file.
- Other duties and responsibilities, as assigned, including:
- Responsibility for data integrity of all compensation and compensation-related materials
- Maintaining the Compensation Dashboard/Metrics.
- AA/EOE
Qualifications
Required:
- Bachelor's degree in HR, Industrial/Organizational Psychology, Finance, or Business Administration.
- 1-2 years of related experience.
- Experience with HRIS and strong Microsoft Excel skills.
- Project and time management skills essential.
- Analytical and critical thinking skills.
- Exercise good judgment in handling sensitive information.
- Ability to communicate effectively with all levels in the organization.
Preferred:
- PowerPoint skills.
- PeopleSoft skills.
- Familiar with Kronos and Authoria Technology.
Additional Information
Northwestern Medicine is an affirmative action/equal opportunity employer and does not discriminate in hiring or employment on the basis of age, sex, race, color, religion, national origin, gender identity, veteran status, disability, sexual orientation or any other protected status.
Benefits
We offer a wide range of benefits that provide employees with tools and resources to improve their physical, emotional, and financial well-being while providing protection for unexpected life events. Please visit our Benefits section to learn more.
