Healthcare Compensation Specialist

posted on October 29, 2018

Job Description

Location: Springfield, MA

Type: Permanent

Summary:

  • This role serves as an HR strategic business partner to all levels of leadership and associates, and collaborates with the HR team on compensation structure and administration, job and organizational design, policy interpretation and related legal and compliance laws and regulations.
  • This position is responsible for the management, administration and execution of compensation and total rewards programs.
  • This incumbent must maintain the highest possible standard of integrity, equity, and confidentiality of financial information, insurance and litigation documents, employee information and other sensitive and confidential information.
  • The incumbent is responsible for managing the tools and technologies to support efficiency and perform analytics to guide leaders through compensation decisions; job description development, understanding regulatory requirements and applicable laws.
  • The Compensation Specialist will develop and maintain plan documentation for annual compensation plans, and support annual merit and incentive program cycles as well as support the Director of HR and Organizational Development and the Human Resources Manager with executive compensation including, but not limited to, executive contracts, VCP, salary planning, bonus cycles and partnering on market analysis/surveys.
  • Additionally, the incumbent will remain current with all state and federal regulatory changes.
  • The Compensation Specialist will model HR’s Guiding Values by providing quality service to leaders and associates while demonstrating a sense of urgency to meet customer needs.
  • Recommendations and decisions made by the incumbent affect employees and/or departments and have legal implications.
  • The incumbent will be fully engaged in various Human Resources’ projects by sharing area of expertise and expanding knowledge of other areas of discipline.

Essential Functions:

  • Compensation Administration 60%
  • Manage and administer all areas of compensation including, but not limited to, variable compensation, sales commission structure design and annual merit process to ensure it aligns with established criteria and budget.
  • Assist leadership with salary administration for hire, promotions and transfers.
  • Perform salary analysis to maintain pay equity.
  • Manage and administer the job evaluation process to include job descriptions and classification as determined by the Fair
  • Labor Standards Act (FLSA).
  • Work with leaders to update job descriptions, roles and responsibilities.
  • Assist with standardizing and manage job titling scheme.
  • Work in conjunction with Director of HR and OD to provide organizational design support.
  • Apply expertise in organizational structures, assessing overall workforce needs, job design and career path.
  • Project management of total rewards initiatives programs to attract and retain employees.
  • Manage relationships with external consultants to ensure continued access to relevant market data and trends.
  • Insure all pertinent compensation data is stored and maintained in an HRIS database according to established company standards.
  • Partner with key stakeholders to perform job evaluations aligned to organizational career paths, provide competitive
  • compensation analysis and recommendations based on internal and external market data.
  • Partner with HR Leadership to provide data for executive compensation, as requested.
  • Collaborates with Sr. Talent Acquisition Specialists to ensure the efficient integration of compensation processes and that all pertinent compensation data is stored and maintained in an HRIS database according to established company standards; maintains compensation and market survey database.
  • Research, Analysis and Recommendations: 15%
  • Provide support to the HR organization by preparing and analyzing data, performing job evaluations, inputting and extracting and analyzing benchmark salary data, creating career ladders, developing reports to track compensation information and assisting with the implementation of compensation-related programs such as merit, stock/equity and bonus plans.
  • Perform job analysis, conducts external bench marking of roles, and recommend grade assignments.
  • Research and conduct position analysis using established methodologies and practices (e.g., Sales Comp Programs, etc.) and other external reliable sources (e.g., surveys).
  • Document the rationale for the salary grade recommendation and maintain a formal record to include supporting documents.
  • Participate in, complete, and submit salary surveys within established time frames; use the resulting data as a means to compare salaries against like roles.
  • Conduct research and market analysis and makes recommendations regarding, job evaluations, rewards and recognition programs and internal leveling of new and updated positions in an effort to ensure both external competitiveness and internal equity.
  • Manage periodic market review of associate salary data with external consultants.
  • Identify any position(s) requiring market job match review.
  • Manage vendor relationships ensuring expectations are delivered on-time and within budget.
  • Regulatory, Compliance, and Company Policies and Procedures: 15%
  • Support, manage and maintain company’s compensation policies and procedures including but not limited to, salary structures and scale, occupational classifications, job descriptions and evaluations.
  • Ensure the organization is compliant with all applicable local, state and laws, specifically compensation laws.
  • Proactively provide recommendations to Director of HR and Organizational Development and Human Resources Manager for required policy changes or practice regarding compensation issues.
  • Stay current with changes in federal and state employment laws (FLSA, Massachusetts Wage and Hour, etc.)
  • Evaluate, analyze and stay current on all wage and hour law changes.
  • Proactively provide recommendations and keep HR leadership informed.
  • Stay current with the Office of Federal Contract Compliance Programs (OFCCP).
  • Identify and implement opportunities to streamline, build efficiencies automate accurate and timely reporting and SOP’s.
  • Education and Communication: 10%
  • Assess, design, and implement training to leaders and associates on all areas of expertise.
  • Ensure blended approach to accommodate remote associates and solicit feedback on training content and stakeholder experience to determine improvement opportunities.
  • Design and develop communication timeline, plan, and prepare content for distribution for key initiatives.
  • Coach leaders on the most effective way to recognize and reward associates for excellent performance.

Minimum Requirements:

  • Bachelor’s Degree in Human Resources, Business, Finance or a related field and a minimum of 5 years in HR with 3+ years in compensation and job evaluation or an equivalent combination of education and experience.
  • CCP designation preferred.
  • Experience with point factor methodology
  • Expert in writing job descriptions
  • Strong knowledge of federal and state employment law to include FLSA, OFCCP, and related
  • Ability to effectively influence across organizational levels
  • Excellent organizational, project and time management skills
  • Ability to present an unpopular decision
  • Ability to work independently with minimal supervision
  • Intermediate skill level with Excel, Word and Power Point software applications
  • Highly detailed oriented with proven accuracy
  • Highly skilled in managing multiple projects
  • Solid analytical skills with proven independent judgement
  • Strong critical thinking and problem solving skills
  • Strong presentation skills
  • Strong oral and written communications skills
  • Serve as a change agent; change agile
  • Excellent interpersonal skills and the willingness to work as part of a team
  • Able to make decisions with limited information
  • Ability to work under tight deadlines
  • Ability to shift priorities frequently and easily to meet business needs while maintaining composure
  • Able to work with sensitive information and maintain the strictest confidence

 

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