Compensation Manager

Industry: Healthcare

  •  

8 - 10 years

Posted 66 days ago

This job is no longer available.

Job Description

Lead the Compensation function and team to ensure the Compensation strategy is implemented so that outcomes meet current and future business needs, is established within budget and complies with all relevant regulations, laws and employment standards. Designs and implements compensation programs to meet objectives with regards to internal equity and external market competitiveness. These programs may include: job evaluation; salary administration; incentive plans; executive and physician compensation. Liaise with managers to develop and implement local compensation strategies appropriate for their business needs and consistent with the organization's overall reward strategy.

ROLE RESPONSIBILITIES

HR Management/Department Leadership:

  • Establishes and implements short and long-range goals, policies, processes and operating procedures for the compensation function.
  • Monitors and evaluates operational effectiveness and department goals.
  • Develops goals and objectives for staff consistent with department goals.
  • Supports and guides Compensation team employee(s) on issues related to their areas.
  • Provides appropriate development opportunities to ensure staff is competent and continually improving their performance.
  • Communicates expectations, provides ongoing coaching/feedback, objectively assess employee performance and provide appropriate rewards and recognition.
  • Provides leadership in the management of cross-functional projects.
  • Facilitates teamwork and cooperation among staff.
  • Works in a consultative role with leadership, Human Resource Consultants, Talent Acquisition, and other HR team members on complex issues related to wages, general compensation, reorganizations, wage and hour regulations, and compensation policies.
  • Collaborates to identify and resolve recruitment and retention issues. Recommends creative solutions to specific compensation-related programs. Develops and implements Compensation, HR or business unit initiatives.
  • Responsible for managing the annual Compensation Program/Process including developing and delivering educational material to leaders across the organization.
  • Guides compensation team member(s) on appropriate training methods and presentations and mentors team members on presentation skill development.

Compensation Programs:

  • Plans, develops, recommends and implements new and revised compensation strategies, programs, policies and procedures, in order to be responsive to the Company's strategic goals and competitive practices. Oversees exempt, non-exempt, physician, and executive salary surveys to ensure corporate compensation objectives are achieved.
  • Designs, implements and oversees administration of base and variable compensation programs, including annual salary review for all employee categories; Maintains evaluation and internal equity analysis of jobs and makes recommendations.
  • Designs, implements and recommends retention programs as needed for key positions and areas where market shortage is impacting our ability to hire and retain quality staff; ensures compliance with FLSA standards and provisions as well as applicable state and federal wage regulations.
  • Responsible for the analysis and administration (as well as the outsourcing and third-party vendor management where applicable) of the executive compensation programs, including Incentive Program.

Salary Structure Review/Market Analysis:

  • Leads/oversees the identification and participation of appropriate salary surveys.
  • Oversees the development of annual salary structure review and market analysis, and develops and implements fair and competitive salary structures for all employee categories below the executive level.
  • Develops and implements compensation strategies to address market competition in shortage occupations.

Job Analysis/Job Evaluation:

  • Designs, implements and oversees the administration of job descriptions and job evaluation program and procedures.
  • Works collaboratively with managers and HR Consultants to develop new descriptions and/or revise existing ones.

Develops, maintains and maximizes databases and system modules as needed. Develops techniques for compiling, preparing and presenting data. Participates on cross-functional team in the review and selection of compensation-related software or systems. Manages vendor relationship to ensure service level standards are met.

Demonstrates knowledge of the age-related differences and needs of patients in appropriate, specific populations from neonate through adolescence and applies them to practice. Demonstrates cultural sensitivity in all interactions with patients/families.

Values cultural diversity and other individual differences in the workforce.

Demonstrates support for the mission, values and goals of the organization through behaviors that are consistent with CT Children's standards.

Performs other related responsibilities as assigned.

Education and Experience

Bachelor Degree required. Master degreepreferred. Minimum of 7 or more years of experience in the design, implementation, and administration of base pay programs and processes (competitive market review, assessment of internal equity, premium pay, application of technology to compensation) or related experience.

Licenses and Certifications

WorldatWork -Certified Compensation Professional preferred

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