Compensation & Market Analyst

10 HOSP Ann & Robert H. Lurie Children's Hospital of Chicago

Chicago (IL)

On-site

USD 71,000 - 116,000

Full time

5 days ago

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Benefits offered by this job

Medical, dental and vision insurance

403(b) with a 5% employer match

Paid Time Off (PTO) and holidays

Tuition assistance

Employee health resources

Job summary

10 HOSP Ann & Robert H. Lurie Children's Hospital of Chicago is seeking a Compensation Analyst to develop and administer organization-wide compensation programs, price jobs to market, and assess internal equity.

You will prepare salary analyses, participate in market surveys, and maintain the pricing tool and job description library, ensuring compliance with policies and government regulations. The role requires a bachelor’s degree with at least two years’ compensation experience, strong

Qualifications

Bachelor’s degree required.
Preferred field of study: Finance, Business Administration, or Human Resources.
Minimum two years of direct compensation experience, or three years if not directly in compensation.
Solid working knowledge of compensation, salary market surveys and analysis.
Knowledge of applicable federal and state employment, labor, and wage and hour laws.
Strong verbal, written and interpersonal communication skills.

Responsibilities

Assists in development and administration of organization-wide compensation programs.
Assures, through audits, reports, and personal contact, that organization compensation programs are consistently administered in compliance with company policies and government regulations.
Provides guidance and assistance to the Human Resources team, Lurie Children’s management, and employees on compensation programs while adhering to hospital and regulatory guidelines.
Maintains and updates compensation policies and procedure documents and related materials (salary structures, job code listing, etc.).
Participates in and completes market salary surveys.
Maintains the organization’s market pricing tool/database for all organizational jobs.
Assesses market competitiveness, internal equity, and position salary grade assignments.
Collaborates with management to determine cost, budget, and adjustments to ensure fair and competitive pay practices.
Performs salary analyses/assessments and drafts related recommendations and costing when necessary for analyzing market trends and internal equity alignment.
Evaluates new or revised job descriptions and position reclassification requests and recommends salary range assignment in cooperation with management staff and HR partners including appropriate communication and follow through of approved implementation.
Oversees the maintenance of the job description library to ensure current and accurate documents for all positions.
Ensures job descriptions meet all regulatory standards.
Audits and determines the FLSA (Fair Labor Standard) classification of positions based on Department of Labor regulations and guidelines.
Acts as the compensation liaison and consultant to Payroll for compensation practices, policies, and procedures.
Assists in developing training for HR and business partners on compensation processes.
Keeps informed on trends and regulatory changes relevant to compensation administration and compliance.
Performs job functions adhering to service principles with customer service focus of innovation, service excellence and teamwork to provide the highest quality care and service to our patients, families, co-workers, and others.
Other job functions as assigned.