Senior Compensation Analysis

Vaco is searching for Compensation Analyst in the Chicago area.  This role supports the creation, development, implementation, and communication of the company's compensation programs, tools, and processes. Analyzes job roles, hourly wages, salaries, and incentives to ensure internal fairness, external competitiveness, and legal compliance of the organization's pay practices. Assists with developing and implementing compensation-related training and projects.

Responsibilities

• Serves as SME on projects for larger compensation initiatives. Supports and identifies opportunities for enhancement and change in compensation programs, policies and procedures. Recommends and implements approved changes to process and policy.
• Conducts job evaluation analyses. Evaluates positions using standard job evaluation techniques. Conducts equity analyses both internal and external. Presents written recommendations based on analysis and budgetary considerations, and maintains department log to document requests and outcomes/
• Partners with HRBP to consult and advise on departmental requests, providing options and solutions to create alignment and synergy across the hospital system.
• Conducts large scale market studies, creating cost-effective solutions and presenting proposals to department management. Assists in developing solutions for complex issues that arise within the medical center that have a compensation component.
• Completes and submits relevant salary surveys. Maintains log of survey participation. Assists in preparing budget estimates for survey expenses. Coordinates work with outside consultants regarding special surveys or wage studies.
• Partners with HRBP and leaders to revise job descriptions using data received from managers, incumbents, third parties, and knowledge of the company's policies and culture.
• Works with HRIS to ensure updates regarding compensation related HR data in the system of record. Acts as a compensation subject matter expert on system implementations impacting compensation.
• Assists in the management of the annual performance evaluation and merit increase process. Coordinates the flow of data from departments to approvers and HR.
• Manages the annual update of medical center salary structures based on analysis of benchmark survey data.
• Assists with education, training and quality audit activities to ensure compliance with current Joint Commission Human Resource Standards.
• Serves as an expert resource to others in department and throughout medical center, providing advice and consultation to regarding pay decisions and compensation guideline interpretation. Conducts training for people managers.
• Reviews and recommends changes to compensation policies and procedures. Focuses on process automation for compensation administrative tasks.