What are the responsibilities and job description for the Compensation Consultant position at University of Maryland Medical System?
Job Requirements
Responsible for assisting in the design, development, execution and communication of Compensation Programs and Projects. Supports Leaders, Human Resource Professionals, and Talent Acquisition regarding compensation policies, practices, and/or procedures to provide guidance and counsel and ensures compliance with labor laws. Evaluates market and economic trends to provide guidance on job pricing and organizational salary structures and pay programs.
Primary Responsibilities
Education & Experience - Required
Responsible for assisting in the design, development, execution and communication of Compensation Programs and Projects. Supports Leaders, Human Resource Professionals, and Talent Acquisition regarding compensation policies, practices, and/or procedures to provide guidance and counsel and ensures compliance with labor laws. Evaluates market and economic trends to provide guidance on job pricing and organizational salary structures and pay programs.
Primary Responsibilities
- Work closely with Director Compensation in the management of compensation programs.
- Manages assigned compensation projects, including leading meetings, creating agendas, and drafting presentations with best practice recommendations that help guide leaders in their decision making. Responsible for drafting organizational communications with FAQs related to the projects. Coordinates and organizes the administration of projects and partners with appropriate resources for implementation.
- Supports case management on complex cases. Utilizes experience to guide leaders on the review of best practices to help with complex hiring decisions, updates to pay programs, and support of unique compensation challenges.
- Follows compensation principles and guides leaders on job description creation and is responsible for the job evaluation, job pricing, and administration of the final structures. Works closely with HR Professionals and Leaders involved in restructuring and reorganization offering technical guidance and expertise.
- Responsible for studying and understanding market conditions. Participate in compensation analysis. Reviews salary surveys, evaluates market and economic trends, compiles, analyzes and interprets data to recommend salary ranges, market adjustments and hiring rates. Annually provides recommendations for job priorities for market adjustments and budgeting.
- Leads and supports the design of compensation new tools and systems. Influences builds and administration. Supports testing and considers all variables to launch successful administration. Responsible for program plans and documentation.
- Utilizes Human Resources technology to administer pay programs. Responsible for market pricing, merit, and incentive administration. Creates new jobs in the HRIS system.
- Administers Compensation programs i.e., premium pay, shift differentials, bonus, and incentive programs. Partners with payroll, I.T., and HRIS. Supports the analysis of pay program best practices and guides the organization to remain compliant. Responsible for data accuracy.
- Continuously supports and educates Recruitment, HRBP and Leaders on Compensation Programs and provides guidance on decisions that keep the organization compliant. Plans and implements a system of feedback and evaluation regarding the effectiveness of compensation as perceived by internal and external stakeholders.
- Responsible for Compensation program documentation and training material.
- Mentors Compensation Analyst and Compensation Specialists.
- Perform all other duties as assigned.
Education & Experience - Required
- Bachelors Degree in Business Administration/Human Resources
- 6 years’ experience as a Compensation Analyst
- Expert-level Excel skills, including advanced formula logic
- Project Management
- Certified Compensation Professional (CCP)
- Healthcare experience preferred
- Finance Experience preferred
- Communication and Presentation Experience preferred