Senior Compensation Analyst

Company: Versiti, Inc.
Location: Milwaukee
Posted on: January 26, 2023

Job Description:

Overview:Versiti is a fusion of donors, scientific curiosity, and precision medicine that recognize the gifts of blood and life are precious. We are home to the world-renowned Blood Research Institute, we enable life saving gifts from our donors, and provide the science behind the medicine through our diagnostic laboratories. Versiti brings together outstanding minds with unparalleled experience in transfusion medicine, transplantation, stem cells and cellular therapies, oncology and genomics, diagnostic lab services, and medical and scientific expertise. This combination of skill and knowledge results in improved patient outcomes, higher quality services and reduced cost of care for hospitals, blood centers, hospital systems, research and educational institutions, and other health care providers. At Versiti, we are passionate about improving the lives of patients and helping our healthcare partners thrive.Position Summary:Under the direction of the Total Rewards Director ensures delivery and alignment of HR services to support achievement of business objectives. The Senior Compensation Analyst, ensures alignment of HR policies and practices related to compensation administration including, but not limited to day-to-day salary administration activities, evaluates and analyzes salary data, determines pay grades and conducts or participates in compensation surveys, conduct job evaluations, develops compensation models, reports and analysis used to analyze activities and to support recommendations to the leadership team. Proactively assesses and administers Versiti's compensation plans and programs in compliance with organizational policies and procedures as well as federal and state governing bodies to support the compensation function and seeks integrated solutions which deliver value added service.Responsibilities:MAJOR RESPONSIBILITIES Compensation Administration * Designs, develops, implements, and maintains compensation programs, policies, proposals, and solutions to support the talent management strategies. * Maintains control of the Jobs Catalog to include job analysis, job evaluation, job coding, job descriptions - new and updates. * Researches, prepares, and analyzes salary survey and market data to determine the appropriate compensation practices and guidelines. Leverages surveys and professional networks to understand industry and organization-specific issues * Develops and maintains Compensation Structures maintaining internal and external equity. Creates compensation guidelines, review exceptions, and provides creative solutions to compensation challenges. * Provides compensation recommendations to HR Business Partner and/or Talent Acquisition Specialists to assure appropriate offer that maintains internal equity and external competitiveness * Consults with management regarding pay practice decisions for promotions, transfers, reclassifications, etc. * Educates and counsels employees/management regarding compensation practices * Manages the administration of the annual merit increase cycle, including the preparation of HR systems, budget reports, review of the salary structure and analysis of the market * Coordinates and participates in the design, enhancement and execution of variable pay programs (such as incentive and commission plans), rewards and recognition programs, and other compensation related programs. * Partners with Finance and other teams in the budgeting and financial reporting processes, financial modeling, and special research projects as required * Conducts weekly, monthly and/or quarterly audits of compensation records and practices, as appropriateGENERAL DUTIES * Delivers service aligned with department guiding principles, ensuring highest levels of collaboration across the HR and other organizational teams. * Supports the organization mission, vision, and values as well as departmental goals and objectives. * Responsible for maintaining strict confidentiality of information and records at all times. * Establishes sound processes and controls mechanisms to ensure adequate administration of HR and Compensation policies, processes, and practices. Maintains required records, reports, and files pertaining to areas of responsibility. * Displays commitment to continuous learning, including own professional development as well as sharing information and learning with other team members. * Participates in meetings and support organizational initiatives, as required * Participates in surveys relative to salaries and compensation policies and practices. * Assists with the development and coordination of special job offers, separation packages, other * Serves as subject matter expert on Compensation matters for complex compensation questions such as those related to compensation offers, etc. * Maintains updated policies, processes, guidelines, training materials, and communications to ensure efficiency and cost effective HR-compensation services.Performs other duties as assignedComplies with all policies and standardsQualifications:EducationBachelor's Degree from an accredited college or university in human resources, business, or related field requiredStrong compensation knowledge with demonstrated proficiency and progressive increase in compensation accountability and responsibility. requiredExperience4-6 years Minimum of 5 years of progressive compensation experience in a complex work environment including compensation plan administration, resolving compensation related issues, and working in partnership with peers, business leaders and employees to support their needs requiredExperience with variable pay, compensation modeling and metrics requiredExperience working with an HRIS system, including data extraction and analysis requiredExperience with Microsoft Office products (Word, Excel, PowerPoint, and Outlook) requiredExperience in a performance and market driven pay environment required; health care setting preferredKnowledge, Skills and AbilitiesProven strong analytical, critical thinking and problem solving skills and ability to synthesize information and data from a variety of sources. requiredDemonstrated strong auditing skills and attention to detail in data management and reporting requiredDemonstrated understanding and ability to design and implement processes associated with compensation changes requiredExcellent project management and business literacy skills requiredAbility to maintain highly confidential information in a professional manner requiredAbility to multitask and adjust in a fast paced environment requiredWorking knowledge of HR laws and practices impacting compensation required requiredStrong sense of urgency, results and action-oriented requiredStrong interpersonal communication skills; ability to communicate with confidence in order to write, interpret and explain information related to compensation and HRIS both one-on-one and in groups requiredLicenses and CertificationsCertified Compensation Professional (CCP) preferredTools and TechnologyPersonal computer, telephone, shredder, fax and copy machine required#LI-Hybrid#AJ123

Keywords: Versiti, Inc., Milwaukee , Senior Compensation Analyst, Professions , Milwaukee, Wisconsin