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 Lisburn
Lisburn is a city whose centre is 7.5 miles (12 km) south west of the centre of Belfast. It is Northern Ireland’s newest city, gaining city status in 2002 for the Queen’s Golden Jubilee. The city is historically noted for its links with the linen industry, and now has a museum dedicated to the craft. To Lisburn’s north west are the banks of Lough Neagh, which at 151 square miles (392 sq km) is the largest freshwater lake in the British Isles by surface area (Lake Windermere, England’s largest, is only about 5.5 square miles in area!). The city is connected to Belfast by the M1 motorway. It is also on the railway line from Belfast to Dublin, and trains can be taken from the city centre to both capitals.
Although the population of Lisburn is roughly 70,000, it is part of The Dublin-Belfast Corridor, which is home to 3 million people. The population of the whole of Northern Ireland is just under 2 million. Close to three quarters of a million people live in the Belfast area, which means that about a third of the population is concentrated in this small area on the country’s east. The city’s population is growing steadily, and indeed the local government is attempting to boost Lisburn’s population with a set of schemes it is putting in place.
With its growing population and excellent links to Belfast and Dublin, Head of Compensation & Benefits positions do come up in Lisburn or its neighbouring areas relatively frequently. Northern Ireland as a whole has seen more prosperity over the past decade or so, and it’s now considered a good place to invest, which can only be good news for the logistics, supply chain and procurement industries.
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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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