Website MedQuest Associates
Position Purpose (Mission)
The Compensation Manager is responsible for managing the day-to-day compensation-related activities for the company to ensure we have a competitive and effective program to attract and retain top talent. This position plans, develops, implements, and manages new and revised compensation programs to be responsive to and compliant with the company’s goals and policies, competitive practices and government regulations.
Responsibilities, Duties, Functions, Tasks (Outcomes)
- Manage and design the company’s compensation systems, processes, policies, guidelines and procedures, and programs, including base salary structures, incentive plans, and recognition programs, recommending plan revision as well as new plans that are consistent with compensation trends and corporate objectives to attract and retain high-performing team members; coordinates implementation and provides guidance to leaders and team members.
- Advise leaders on pay decisions, policy and guideline interpretation, and job evaluations. Assist leaders and evaluate re-organization requests. Review compensation change requests and ensure compliance with company policy and applicable laws.
- Work with leaders to maintain updated job descriptions.
- Conduct periodic wage surveys, market analysis and benchmark studies to evaluate the competitiveness of our compensation packages and make recommendations for adjustments as needed. Ensure compensation programs and practices are designed to support the organization’s strategic objectives and are internally equitable, market competitive and legally compliant.
- Participate in compensation-related activities during Mergers and Acquisitions processes, including conducting due diligence on compensation programs of target companies, assessing compensation-related risks and opportunities, and developing integration strategies for compensation harmonization.
- Collaborate with senior management to develop annual compensation budgets and forecasts.
- Provide guidance, analysis, modeling, and recommendations on compensation-related matters, including annual base pay increases, promotions, and adjustments.
- Maintain the compensation management software database by loading in and updating job descriptions and position details, uploading employee census files, and matching job descriptions to market positions.
- Manage relationships with external vendors and consultants related to compensation programs, such as compensation survey providers and software vendors. Evaluate vendor performance, negotiate contracts, and ensure service levels are met.
- Continuously assess and improve compensation systems and processes to streamline operations and enhance data accuracy. Collaborate with HR teams to implement technology solutions that support efficient compensation management.
- Develop and deliver effective communication strategies to educate team members about our compensation programs, policies, and practices. Provide guidance and support to leaders and HR partners on compensation-related inquiries and issues.
- Stay abreast of relevant laws, regulations, and industry trends related to compensation. Ensure compliance with legal requirements, such as Fair Labor Standards Act (FLSA). Develop and maintain compensation policies and procedures that adhere to regulatory standards.
- May lead and direct the work of other team members including, but not limited to, providing direction, coaching, development, and management of performance to company goals and expectations.
- Other duties as assigned.
- Bachelor’s degree from an accredited college or university in human resources or related field required or equivalent work experience
- Professional certification is a plus, such as:
- HRCI’s Professional in Human Resources (PHR) or Senior Professional in Human Resources (SPHR)
- SHRM’s Certified Professional (SHRM-CP) or Senior Certified Professional (SHRM-SCP) and/or,
- WorldatWork’s Certified Compensation Professional (CCP) or Certified Benefits Professional (CBP)
- Minimum of 6 years of experience in compensation management or related roles
- Proven experience in designing and implementing compensation programs and strategies
- Strong knowledge of compensation principles, job evaluation methodologies, and market analysis techniques
- Familiarity with relevant laws and regulations governing compensation practices
- Exceptional analytical and problem-solving skills
- Solid project management skills including attention to detail, highly organized
- Advanced proficiency in Microsoft Office products including Excel, Word, PowerPoint, data analysis and the use of compensation management tools
- Excellent verbal and written communication skills to effectively convey complex information to various stakeholders
- High level of integrity and ability to handle sensitive and confidential information
- Initiative and drive to continuously improve processes and systems
About MedQuest Associates LLC
MedQuest Associates is a leading manager of outpatient diagnostic imaging facilities, with a network of imaging centers under management and a strategic focus on partnering with leading health systems. We operate and manage mobile Magnetic Resonance Imaging (MRI), Positron Emission Tomography/Computed Tomography (PET/CT), ultrasound and mammography imaging equipment. Diagnostic imaging supports other health care practices by using, MRI, CT, X-Ray, nuclear medicine and ultrasound technology to identify and diagnose a broad range of medical conditions. MedQuest provides full turnkey outpatient imaging center joint venture (JV) and management, including daily operations management, marketing, billing and collections, center development and all financial and other support functions.
MedQuest Associates offers competitive salaries and benefits packages. Please visit our website at www.mqimaging.com to learn more about our company.
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