Head of Compensation and Benefits Jobs
In the modern company, competition to land the best talent is almost as prized as it is to win market share in the sector. It has long been recognized that employees’ contributions to a company can make or break it, and that employees who feel undervalued – rightly or wrongly – will soon start looking elsewhere. It is the head of compensation and benefits’ job to use pull factors such as salaries, bonuses, pensions etc. to attract and retain employees.
The role requires a strategic mindset, as employees’ motivations change as they serve more time at a company and climb its ladder. A programme of review and assessment will need to be put in place or maintained, and liaison with employees’ managers will help guide the compensation and benefits decisions for individual employees. Essentially that will mean making cost-benefit analyses for each employee and rewarding them appropriately. While the role might be overseeing a compensation team in larger companies, in smaller ones, the task may be all down the head herself or himself.
The skills required
A strategic, analytical mindset is a key asset in the role of head of compensation and benefits. You will be assessing the value of employees but you also have a hand in motivating them through the use of perks and other incentives. As compensation is an expenditure to a company – and often its largest outgoing – the role will require a sense of balance, honest, unemotional assessment of an employee’s worth to the company. Reporting to the board, you will need to justify the compensation and benefits you decide on, and evidence of your case will need to be presented to get approval.
Experience in working with benefits and compensation at a management or executive level will be an important asset for this role. You must be able to demonstrate a deep understanding between employee motivation, productivity and profitability and how they interrelate. Evidence of schemes and initiatives you have previously put in place to that end will also be of great benefit.
Head of Compensation & Benefits Jobs in Derby
Located on the River Derwent in Derbyshire, Derby is among England's 20 largest urban areas and the broad range of businesses based there today make it a great option for those seeking new Head of Compensation & Benefits vacancies.
Derby's history goes back to a Roman settlement called Derventio and the area was home to Saxon and Viking communities during its early years.
The Industrial Revolution marked an important turning point for Derby and the city was the first to reap the benefits of a water-powered silk mill in the early 1700s.
Other innovations later in the century led to improved techniques for manufacturing stockings. In addition, a number of cotton spinning mills were established.
Within 100 years, Derby had become an important industrialised city as well as the headquarters for a number of regional railways.
Rolls-Royce established a factory in 1907, constructing cars and aircraft, while the Derby railway works was a bustling facility that designed and built rolling stock for the nation's growing rail system. Indeed, the first diesel-electric locomotive was produced there in 1948.
There's no doubt that Derby's past has influenced its future and today its top employers continue to be based in automotive manufacture and railway engineering. These include Rolls-Royce, Toyota and Bombardier Transportation.
Other well-known companies include Egg, an internet banking company, and Alstom, a company that manufactures boilers and heat exchangers for industrial purposes. Meanwhile, the chocolate company Thorntons is headquartered in nearby Alfreton.
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Find Head of Compensation and Benefits Jobs with Cast UK
Throughout the UK, hundreds of companies are looking to fill executive and management level HR jobs, and thanks to Cast UK’s diligence and reputation, many of them come to us first to help them find their ideal person.
Similarly, thousands of managers and execs are at any time looking to take the next step in their careers and do something about their own compensation and benefits by moving to a company that can really reward their experience and ideas. Does this sound like you? Call us today on 0333 121 3345.
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