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Compensation Analyst

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SCA Health

1mo ago

  • Job
    Full-time
    Junior Level
  • People, HR & Administration
    Accounting & Tax
  • Chicago

AI generated summary

  • You need a Bachelor’s degree, 2+ years in compensation, strong communication skills, knowledge of job evaluation and compliance, and advanced Excel proficiency. Travel up to 10% required.
  • You will analyze compensation data, manage salary surveys, support budget planning, counsel leaders on pay changes, and ensure compliance with compensation policies and regulations.

Requirements

  • Bachelor’s degree required.
  • Minimum of 2 years of compensation experience required.
  • Experience with confidentiality requirements associated with the practice of Human Resources, Compensation and/or Finance.
  • Excellent written and verbal communication skills.
  • Needs to be a motivated self-starter with excellent time management skills.
  • Managing competing priorities and hitting deadlines is a must.
  • Experience working with and applying compensation techniques, job evaluation, salary survey practices and methodologies, salary program development, job documentation, the elements of total rewards, and target setting concepts.
  • Experience with incentive compensation plan designs, development, deployment, and measurement.
  • Experience with maintaining, administering or using compensation systems and knowledge of HRIS analytics as they pertain to compensation functions.
  • Knowledge of basic accounting and financial principles and the requirements of collaborating with Finance on relevant compensation activities.
  • Experience working with EEOC, OFCCP and other compliance requirements.
  • Experience applying the principles of the Fair Labor Standards Act and its applicability to the job evaluation process.
  • Intermediate level skill in Microsoft Word (for example: inserting headers, page breaks, page numbers and tables and/or adjusting table columns).
  • Advanced level skill in Microsoft Excel (for example: using VLOOKUP function, IF statements and other conditional logic, creating a pivot table, pivot chart, etc.).
  • Intermediate level skill in Microsoft PowerPoint (for example: applying a theme, formatting character spacing, inserting a picture, changing slide layout and theme colors, adding transitions, customizing slide numbers, changing chart style and/or formatting font).
  • Willing to travel up to 10% of the time for business purposes (within state and out of state).
  • Min: USD $50,000.00/Yr. Max: USD $100,000.00/Yr.

Responsibilities

  • Responsible for working with highly sensitive and confidential information and maintaining the confidentiality of the information used during the normal course of business.
  • Participates in approved salary surveys through the collection and reporting of data to third-party survey providers. Reviews salary survey results and provides recommendations on additions/deletions of benchmark jobs in use.
  • Provides analytical support in complex aspects in the development of merit budgets, salary structure modifications, and incentive plan data gathering and reporting.
  • Provides expertise in accessing, changing, maintaining, and assuring the quality of compensation and HR databases.
  • Prepares complex economic and cost impact models of compensation initiatives for individually assigned activities or as part of larger Compensation department initiatives.
  • Provides counseling to management in the review of complex pay changes on an individual level (e.g., promotions, transfers, etc.), or enterprise-wide basis, (e.g., merit planning cycles, etc.).
  • Keeps current in all aspects of compensation through formal and informal training, participation in local and national professional organizations, continuous learning and reading, and general professional curiosity.
  • Manages complex ad-hoc Compensation projects, analyses, and requests including but not limited to acquisitions, integrations, and divestitures.
  • Support Annual Compensation Planning activities (merit pay and bonus administration).
  • Participates in the development of incentive compensation plan designs (e.g., annual incentive plans, quarterly incentive plans, sales incentive compensation, etc.) and assures model validation and alignment with goals, forecasts costs and develops the communication plans, tools to measure attainment against plan, and calculation of potential award amounts.
  • Counsels business leaders, HR leaders, HR Business Partners, Talent Acquisition teammates, and others across the organization on many aspects of SCA’s compensation philosophy, teammate value proposition, market pricing, internal equity, job evaluation, broadband structures, and other aspects of compensation to ensure SCA effectively recruits and retains top-tier talent.
  • Develops, analyzes, and makes recommendations for compensation programs in support of specific business units within the Company to ensure they are competitive within the market, position, and industry. May meet with senior level executives to present programs, answer questions, and gain approval of compensation programs.
  • Assists with the enhancement of the compensation aspect in HR information systems (UKG, iCIMS, Service Now) to ensure service delivery on strategies and initiatives.
  • Ensures adherence to organization’s compensation-related policies, procedures and regulations.
  • Comply with local, state, and federal wage regulations.

FAQs

What is the role of a Compensation Analyst at SCA Health?

The Compensation Analyst is responsible for providing support in broad-based, variable, and executive compensation activities, including job evaluation, market pricing, incentive plan design, policy interpretation, and compensation analysis.

What qualifications are required for this position?

A Bachelor's degree is required along with a minimum of 2 years of compensation experience. Candidates should also have experience with confidentiality requirements, strong communication skills, and demonstrate a motivated and self-starting attitude.

What kind of compensation activities will the analyst be involved in?

The analyst will participate in salary surveys, support merit budget development, provide analytical support for incentive plans, counsel management on pay changes, and develop compensation programs for specific business units.

Is experience with HRIS systems important for this role?

Yes, experience in maintaining, administering, or using compensation systems, and knowledge of HRIS analytics related to compensation functions are important for this role.

What software skills are required for this position?

The position requires advanced proficiency in Microsoft Excel (including the use of Macros), intermediate skills in Microsoft Word and PowerPoint, and familiarity with tools like Power BI.

Does the Compensation Analyst need to handle sensitive information?

Yes, the role requires working with highly sensitive and confidential information and maintaining its confidentiality during the normal course of business.

How does the Compensation Analyst contribute to the company's incentive plan designs?

The analyst participates in the development of incentive compensation plan designs, ensuring alignment with organizational goals, forecasting costs, and creating communication and measurement tools for plan attainment.

Will the Compensation Analyst be involved in compliance activities?

Yes, the Analyst will ensure adherence to organizational compensation-related policies and local, state, and federal wage regulations.

Is travel required for this position?

Yes, the role requires the analyst to be willing to travel up to 10% of the time for business purposes, which may include travel within and out of the state.

What is the salary range for the Compensation Analyst position?

The salary range for this position is between USD $50,000.00 and USD $100,000.00 per year.

SCA Health

The Future of Specialty Care

Science & Healthcare
Industry
10,001+
Employees
2007
Founded Year

Mission & Purpose

Our updated brand represents the evolution of our business— all that we are today and all that we will become. It also represents our growth into many aspects of specialty care as we support physician specialists, care for even more patients and welcome new partners to our family of businesses. The new SCA Health logo symbolizes our momentum and our look ahead as we continue to transform the future specialty care across America.