Top Compensation Executive leads an organization's compensation department. Champions timely and robust data collection and analysis processes that support research and market, pay equity, and other compensation studies. Being a Top Compensation Executive is responsible for leading the strategic planning of compensation and equity programs, ensuring those programs align with organizational goals, initiatives, and budgets. Ensures proper collection and analysis of compensation data, including surveys, market research and analysis, and pay equity. Additionally, Top Compensation Executive keeps abreast of regulatory, market, and practice changes and trends. Requires a bachelor's degree. May require a Certified Compensation Professional (CCP) certification. Typically reports to top management. The Top Compensation Executive manages a departmental function within a broader corporate function. Develops major goals to support broad functional objectives. Approves policies developed within various sub-functions and departments. To be a Top Compensation Executive typically requires 8+ years of managerial experience. Comprehensive knowledge of the overall departmental function. (Copyright 2024 Salary.com)
Schedule Weekly Hours:
40Job Description:The Physician Compensation Consultant partners with Executive Committee and HR leadership across our organization to design Physician compensation programs and strategies to meet business needs. The Consultant will have expertise in the drivers of physician compensation and is responsible to research and embed best practices, benchmarks, and trends into plan design and administration. Performs advanced analysis and modeling to make data-driven recommendations in our various compensation programs. Leads the timelines and communication plans for the various Physician compensation programs. Consults with and provides guidance and resolution to the Physician Compensation team, Executive Committee members and leaders at all levels of the organization related to compensation needs. Serves as the project lead on major compensation projects.
Major Responsibilities:
1.Consults with Executive Committee. Serves as liaison to physician leadership in physician compensation design, evaluation changes, or interpretations of compensation plans or amendments
2. Keeps abreast of trends in physician compensation marketplace, including change from volume to value, and proposes changes to current physician compensation plans to keep pace with the market within legal and regulatory requirements.
3. Performs financial modeling on new and existing design to ensure plans meet objectives, financials and are compliant.
4.Consults with leadership across the organization and Executive Committee on the development of new roles and department structure changes for Physician comp or physician/APP.
5.Serves as the subject matter expert in providing information on market trends and pay strategies that impact Physician compensation.
6.Partners with executive leadership to determine which market surveys to participate in. Oversees interpretation of survey results to ensure competitive position regarding benchmark jobs and the local, regional, and national markets.
7.Serves as a project lead in the development and delivery of communication and training related to compensation.
8.Partner in the development and implementation of new policies, consulting with Executive Committee and leadership throughout the organization and provides input and oversight into the updating of existing policies.
9.Partner with Physician recruitment on more complex compensation offers for Clinician staff consulting with the Manager as needed.
10.Makes recommendations for the continuous quality improvement strategies for Physician compensation programs.
Education and Learning:
REQUIRED
Bachelor's degree in Business or a related field
Work Experience
REQUIRED
5 years of progressive experience in Physician Compensation including design and evaluation of compensation structures and processes, need to have worked with physicians and other leaders.
DESIRED
Experience in a healthcare environment
License and Certifications:
N/A
Age Specific Population:
N/A
Osha Category:
Category 3 - Employees in this job title have no reasonably anticipated risk of occupational exposure to blood and/or other potentially infectious materials.
Environmental Conditions:
Not substantially exposed to adverse environmental conditions (as in typical office work)
Physical Requirements/Demands of The Position
Sitting Continually (67-100% or 8 hours)
Repetitive Actions - Fine Manipulation Continually (67-100% or 8 hours)
If you need assistance with any portion of the application or have questions about the position, please contact or call 608-775-0267
Equal Opportunity Employer
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