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 Norwich
A city with a long and varied history, Norwich is the county town of Norfolk and from the 11th century until the Industrial Revolution, it was the second largest city in England after London.
During this period, Norwich was a market town known for its wool and textiles; it also traded pottery. There was a large cattle market during the 1700s and brewing became big business, peaking at the beginning of the 19th century. A number of microbreweries and artisan beer makers are still based in the region.
One of Norwich's best-known products is Colman's mustard, which has been made in the city since 1804 when Jeremiah Colman bought a flour mill in the area. He began producing mustard in 1814 and the company is still thriving in Norwich today - although it's now operated by Unilever and the range of products has expanded to include a variety of sauces and condiments.
Those seeking Head of Compensation & Benefits roles in Norwich will have a number of employment opportunities to consider. Aviva, an insurance company formerly known as Norwich Union, is a major employer, while Archant - a national publishing - company distributes a number of daily and weekly newspapers, as well as a variety of magazines.
In addition, Norwich is home to a massive research park that includes the facilities of more than 30 businesses based in biotechnology, food, nutrition, pharmaceuticals, medical technology, information science, computing and low-carbon energy.
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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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