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 Lincoln
The cathedral city of Lincoln has been an important location throughout our island’s history. Iron age settlements have been excavated there, and under the name of Lindum Colonia, it became an key Roman town. It formed the junction of several roads to London, York, the East Coast (present-day Skegness), and the fort of Venonis, near present-day Coventry. The Roman roads still stand out on the map, in the shape of the A46 running south-west towards Leicester, and more notably the north-south running A15 to Scunthorpe, which would follow a perfect straight line all the way were it not for a kink around RAF Scampton, home of the Red Arrows.
The town was largely agricultural until the industrial revolution and the arrival of the railways, which brought many industrial entrepreneurs to the city. One of the companies that was to set up in Lincoln was William Foster & Co., which would go on to design and build the first tanks in their Lincoln factory during the First World War. Much of this heavy industry is no longer in existence in the city, following a series of conglomerations and takeovers, although there is still a large Siemens works and gas turbines remain the largest single source of employment in the city. Most of the old engineering plants have now been converted into small manufacturing, IT and service industries.
The university and tourism are important attractions for jobs and visitors, and there are several out of town retail parks around the city. It is a beautiful city to live and work in, so if you’re on the lookout for a Head of Compensation & Benefits job in Lincoln, look no further than Cast UK.
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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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