Description
General Summary of Position
The compensation manager is responsible for designing, implementing, and managing comprehensive compensation programs. This position ensures that compensation practices are competitive, equitable, and aligned with the organization's mission, strategic objectives, and regulatory requirements. Key responsibilities include conducting job evaluations, salary benchmarking, and market analysis to support base pay, incentive compensation, and executive pay structures. The manager collaborates with HR, finance, legal, and executive leadership to develop and maintain compensation programs that attract, retain, and motivate top talent-while ensuring compliance with all relevant laws and regulations such as FLSA, IRS, and state-specific labor laws. In the executive compensation area, the role supports the development of pay strategies for senior leaders, prepares materials for Board and Compensation Committee review, and ensures proper documentation for governance and reporting. This position plays a vital role in maintaining internal equity, managing compensation planning cycles, and supporting strategic initiatives like workforce planning and organizational restructuring.
Primary Duties and Responsibilities
Leads special projects, as required, from initiation through closure. Provides analytical and project management support on compensation-related projects, i.e. new business acquisitions, conversions, and system-wide initiatives. Advises on best practices throughout the organization.Provides guidance to compensation team members, human resources, and leadership on complex compensation issues. Assists in training, orienting and developing department staff. Assists in developing, administering, and maintaining compensation policies. Serves as a consultant to HR and department leaders in designing and implementing special pay programs (productivity bonuses, premiums, etc.). Interprets and explains compensation-related policies and practices to HR business partners and leadership.Identifies opportunities for and implements process improvement. Acts on behalf of Compensation Director in his/her absence.Ensures adherence to department policies, procedures, quality standards, and safety standards. Complies with governmental and accreditation regulations.Functions as administrator for the PayFactors market-pricing system to include designing reports, partnering with HRT on changes to the PeopleSoft interface, managing user security, and ensuring that new market data is loaded in a timely manner.Regularly audits associates' compensation-related data to ensure alignment to established pay policies, practices, salary ranges, and FLSA status. Consult with HR on the appropriate action to correct discrepancies and ensure compliance.Ensures integrity of job code, structure, and related data maintained in PeopleSoft and internal databases. Manages compensation content in MyHR, including regularly updating job code listings. Manages user access to compensation information on public drives, e.g. hiring targets.Design and manage executive compensation programs including base salary, annual incentives, and long-term equity-based awards. Conduct benchmarking and market analysis to ensure competitive positioning of executive compensation. Prepare materials and analysis for the Compensation Committee of the Board of Directors.Ensures job descriptions are published and up to date in the applicant tracking system and other public repositories. Monitors libraries for missing job descriptions, identifying and resolving issues as quickly as possible. Grants HR partners system access to job description libraries.Monitors trends in the market, including legislative and regulatory issues, through membership in professional organizations, networking, research, and review of published surveys and reports. Recommends modifications to ensure programs continue to align with best practices and MedStar's compensation philosophy.Supports the design, implementation, and management of executive compensation programs that align with the company's strategic objectives, ensure competitiveness in the market, and comply with legal and regulatory requirements to support compensation strategies that attract, retain, and motivate top executive talent.Oversees the participation in salary surveys conducted by third-party vendors to ensure data is accurately reported and that survey results are secured in a continuous and timely manner.Takes a lead role in the annual merit and market process, which includes but is not limited to market pricing each job, making recommendations for change, conducting cost analysis, producing reports and presentations, and implementing approved increases.Collaborates with HR business partners across various entities to ensure market competitiveness and internal equity from a system-wide perspective. Reviews requests for new and revised positions. Evaluate jobs based upon market analysis and internal comparisons. Determines grade designations and FLSA classifications; assigns job codes and titles. Conducts internal equity studies and makes recommendations for salary adjustments. Prepares and presents a cost analysis of recommendations. Develops regional hiring guidelines for key positions.Collaborates with Payroll, HRT, and ERP team members to design and implement system changes required for new/revised policies, pay practices, and earnings codes.Participates in meetings and on committees and represents the department and hospital in community outreach efforts. Participates in multi-disciplinary quality and service improvement teams.CUSTOM.PRIMARY.DUTIES.RESPONSIBILITIES.ADDENDUM
Minimum Qualifications
Education
- Bachelor's degree in Human Resources, Finance, Business, or related field required
- Master's degree in Human Resources, Finance, Business, or related field preferred
Experience
- 5-7 years in compensation, with a focus on executive or broad-based compensation required
Licenses and Certifications
- SHRM-SCP preferred or
- SHRM-CP preferred or
- Senior Professional in Human Resources (SPHR)-HRCI preferred or
- Professional in Human Resources (PHR)-HRCI preferred or
- Certified Compensation Professional (CCP) preferred
Knowledge, Skills, and Abilities
- Expert knowledge of compensation systems, principles of wage and salary administration, and market pricing methodology.
- Strong knowledge of Federal and State laws governing wage and salary administration.
- Demonstrated ability to solve a full range of complex problems.
- Advanced working knowledge of Microsoft Word, Excel, and Access software applications.
- Working knowledge of market-pricing and salary planning software is strongly preferred.
- Knowledge of performance management software preferred.
- Excellent verbal and written communication skills.
- Strong knowledge of executive compensation practices, regulatory environment, and governance.
This position has a hiring range of $93,142 - $175,968
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