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Hackensack Meridian Health · 2 hours ago

Senior Compensation Analyst, Advanced Practice Providers

Edison, NJ

Full-time

Onsite

Mid, Senior Level

4+ years exp

Hackensack Meridian Health is dedicated to transforming healthcare and serving as a leader of positive change. The Senior Compensation Analyst is responsible for managing and improving the compensation program for Advanced Practice Providers, developing competitive compensation strategies, and ensuring internal equity to attract and retain talent.

Assisted LivingHealth CareHealth DiagnosticsHospitalMedical

Responsibilities

Develops strong partnerships and provides consultation and support to APP recruitment team and hospital and medical practice APP hiring officials

Administers all compensation programs for APPs, including, but not limited to base compensation, incentive plans, and annual increases

Evaluates and analyzes salary survey data from national, regional and healthcare-specific sources. Determines pay grades, and conducts or participates in compensation surveys; analyzes and recommends new surveys for participation and changes to sponsored surveys to remain market competitive

Implements and administers APP variable compensation program, including incentive plan structures, establishing performance metrics, and creating routine reporting on program performance and payouts. Analyzes program effectiveness and proposes enhancements as needed

Assigns base salaries to employees based on market data and the internal equity of the job. Assigns base salaries for new hires and existing employees based on job evaluation, internal equity analyses, and market benchmarking. Determines compensation placements within approved pay ranges. Recommends salary adjustments based on survey results, promotion or job changes, and performance

Makes recommendations for salary adjustments based on survey results and local and national market intelligence

Compiles statistical information and prepares reports relating to compensation and position management utilizing the HRIS system

Creates job descriptions reflecting appropriate title, essential functions, qualifications, and requirements

Maintains APP compensation expertise, stays abreast of market dynamics and changes

Staying abreast of relevant federal, state, and local regulations governing compensation practices, ensuring compliance with laws such as the Fair Labor Standards Act (FLSA) and other applicable statutes. Conducts analysis to ensure compliance with pay equity guidelines

Regularly reviews and updates compensation structures for APP roles to align with industry standards and internal compensation philosophy

Collaborates with the physician compensation team to ensure alignment between provider compensation structures and organizational strategic initiatives, ensuring that APP and physician compensation plans work in harmony to support overall business objectives and promote consistency across provider groups

Interacts with Executive leadership, providers, administrators and other key stakeholders to understand APP staffing needs

Demonstrate professionalism and composure in discussions related to APP compensation and supporting informed, respectful conversations with stakeholders

Researches and resolves compensation issues based on inquiries

Assists in budgeting and forecasting processes related to APP compensation expenses, providing insights and recommendations to optimize financial resources while attracting and retaining top talent

Provides expertise and/or acts as team lead for new HR Technology/Compensation upgrades/implementations/integrations and process improvements

Relies on experience and judgment to plan and accomplish goals

Performs a variety of complicated tasks

May lead and direct the work of others

Other duties and/or projects as assigned

Adheres to the standards identified by the Medical Center¿s Organizational Competencies

Adheres to HMH Organizational competencies and standards of behavior

Qualification

Compensation analysisHRIS systemsCompensation modelingMicrosoft OfficeGoogle SuiteCertified Compensation ProfessionalAnalytical skillsCommunication skillsCreativity

Required

Bachelor's degree in a related area

Minimum of 4 years of experience in administering APP compensation and/or Physician (MD) compensation

Knowledge of the field's concepts, practices, and procedures

Ability to translate complex compensation data into actionable insights and recommendations for HR and business stakeholders

Knowledge of HRIS systems

Wide degree of creativity and latitude

Excellent written and verbal communication skills

Proficient computer skills that include but are not limited to Microsoft Office and/or Google Suite platforms, with a focus on spreadsheets and financial modeling