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 Scunthorpe
Scunthorpe is a town at the north of Lincolnshire roughly as far north as Grimsby on the east coast but 23 miles (37 km) inland. Its closest major neighbour is Hull, 16 miles (26 km) to the north east, and Leeds and Sheffield are both roughly 35 miles (57 km) to the west. The town originally comprised five villages, Ashby, Crosby, Brumby, Frodingham and Scunthorpe, but time merged them together and they officially collectively became Scunthorpe as we now know it, with a population of around 75,000.
The town has a rich industrial heritage, and played its part in the Industrial Revolution as a major centre for ironworks in the mid to late 1800s. These would eventually become steel works as the technology was honed. The usual story for most of these industrial boom towns is that that fell into decline in the twentieth century, but happily for Scunthorpe this is not the case. The largest single employer remains the steelworks, now owned by the Indian steel giant Tata. Thanks to the ongoing success of the steelworks, many engineering firms, large and small, are doing well in the area. Major local employers include BOC, Bell Waste Control, Nisa Today’s, 2 Sisters, Key Country Foods, The Sauce Company and Ericsson.
With such a vibrant industrial history and the whole spectrum of industry from heavy to light, Head of Compensation & Benefits jobs can appear in Scunthorpe from time to time. The town is also at the centre of a circle of major towns, cities, resorts and ports, which can potentially lead new logistics, warehousing and supply chain companies to set up there.
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