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Compensation Consultant

  • Job
    Full-time
    Senior Level
  • Consulting
    People, HR & Administration
  • Nashville

AI generated summary

  • You need a Bachelor's degree, 5+ years in compensation analytics, strong analytical and Excel skills, and excellent communication. Master's and certification preferred; healthcare experience is a plus.
  • You will analyze compensation data, design frameworks, evaluate job roles, collaborate with teams, present insights, implement incentive programs, ensure compliance, and monitor industry trends.

Requirements

  • Bachelors Degree is required
  • Master’s degree is preferred
  • 5+ years of experience in compensation, analytics, or related experience is required
  • 3+ years of experience in Healthcare, general industry, and consulting experience is preferred
  • Certified Compensation Professional Certificate is preferred
  • Strong analytical skills with expertise in data modeling is required
  • Proficiency in Excel and tools such as Power BI is required
  • Proficiency in SQL is preferred
  • In-depth knowledge of compensation principles, methodologies, and best practices is preferred
  • Familiarity with job evaluation techniques, salary surveys, and market benchmarking is preferred
  • Excellent problem-solving abilities, with capacity to translate complex data into actionable insights and recommendations is required
  • Exceptional communication and presentation skills, with the ability to convey technical concepts to both technical and non-technical stakeholders is required
  • Collaborative mindset with the ability to work effectively in cross-functional teams and manage multiple projects is required
  • Strong business acumen and the ability to understand and align compensation strategies with broader organizational goals is required

Responsibilities

  • Conduct comprehensive analysis of compensation data, including salary surveys, market benchmarks, and internal pay structures, to evaluate competitiveness and identify areas for improvement.
  • Utilize data modeling and analytical techniques to assess the effectiveness of compensation programs and forecast future trends.
  • Create dashboards using appropriate tools to summarize data in a meaningful and impactful way.
  • Collaborate with clients to define compensation objectives and align them with broader business strategies.
  • Design and develop compensation frameworks, policies, and guidelines that support organizational goals and ensure internal equity.
  • Evaluate job roles and responsibilities to determine appropriate job levels, salary ranges, and pay grades.
  • Conduct job pricing exercises using market data and internal factors to establish competitive compensation packages for new hires, promotions, and transfers.
  • Collaborate with HR teams, finance professionals, and senior management to understand business needs and align compensation strategies with organizational objectives.
  • Present findings, recommendations, and insights to various stakeholders, including executives and HR leaders, in a clear and compelling manner.
  • Design and implement incentive and variable pay programs, such as performance-based bonus structures.
  • Develop models to assess the effectiveness of incentive programs, making data-driven recommendations for improvements.
  • Monitor regulatory changes and industry trends related to compensation practices, ensuring compliance with applicable laws and regulations.
  • Provide guidance on governance processes and compliance with internal policies.

FAQs

What is the primary responsibility of a Compensation Consultant at HCA Healthcare?

The primary responsibility of a Compensation Consultant at HCA Healthcare is to provide expert guidance and support in designing, implementing, and optimizing compensation strategies and programs, leveraging analytical skills and a deep understanding of compensation principles.

What qualifications are required for the Compensation Consultant position?

A Bachelor's Degree is required for the Compensation Consultant position, along with 5+ years of experience in compensation, analytics, or a related field.

Is prior experience in healthcare necessary for this role?

While 3+ years of experience in healthcare is preferred, it is not mandatory. Candidates with general industry and consulting experience are also considered.

What are some key skills needed for this role?

Key skills needed for the Compensation Consultant role include strong analytical skills, proficiency in Excel and tools like Power BI, excellent problem-solving abilities, and exceptional communication and presentation skills.

Are there any certifications preferred for this position?

Yes, a Certified Compensation Professional Certificate is preferred for candidates applying to the Compensation Consultant position.

What benefits does HCA Healthcare offer to its employees?

HCA Healthcare offers a comprehensive benefits package that includes medical coverage, dental and vision benefits, 401(k) matching, employee stock purchase programs, tuition assistance, and various wellness and support programs.

How does HCA Healthcare support employee growth?

HCA Healthcare supports employee growth through education assistance programs, colleague recognition initiatives, and a collaborative work environment that promotes career development.

What is the team structure within the Human Resources Group?

The Human Resources Group at HCA Healthcare is organized into three sectors: HR Business Partners, HR Shared Operations, and HR Centers of Excellence, all of which contribute to the success of the HR delivery model.

Is HCA Healthcare an equal opportunity employer?

Yes, HCA Healthcare is an equal opportunity employer and values diversity, ensuring that there is no discrimination based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

How can candidates apply for the Compensation Consultant position?

Qualified candidates can submit their resumes to join the community of caring professionals at HCA Healthcare, and they will be contacted for interviews.

Science & Healthcare
Industry
10,001+
Employees
1999
Founded Year

Mission & Purpose

At HCA Healthcare, we are driven by a single mission: Above all else, we are committed to the care and improvement of human life. At HCA Healthcare we recognize the significant responsibility we have as a leading healthcare provider within each of the communities we serve, as well as the opportunity we have to improve the lives of the patients for whom we are entrusted to care. Through the compassion, knowledge and skill of our caregivers and our unique ability to leverage our scale and innovation, HCA Healthcare is a learning health system that uses our approximately 37 million annual patient encounters to advance science, improve patient care and save lives. HCA Healthcare is one of the nation's leading providers of healthcare services, comprising 180 hospitals and approximately more than 2,300 sites of care, including surgery centers, freestanding ERs, urgent care centers, and physician clinics, in 20 states and the United Kingdom. With more than 294,000 colleagues driven by one purpose—to give patients healthier tomorrows—we are excited about the future of medicine and believe we are uniquely positioned to play a leading role in the transformation of clinical care.