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 St Albans
St Albans is a historic city separated from the north London conurbation by about 6 miles of countryside. The city has had a presence for thousands of years, but it was the construction if its cathedral in the Middle Ages that brought the town to prominence (although it wasn’t formally completed until the nineteenth century). St Albans is supposed to be named after the first British Christian martyr, who was executed by the Romans.
The modern city is what estate agents would describe as full of character. It takes in architecture of many periods, although much of it is twentieth century detached or semi-detached housing or Victorian terrace. The city is served by two railway lines that carry passengers right into the heart of London (one via Watford Junction), and the town is nestles in a U-shape formed by the M1, M25 and A1(M). This ease of travel and the general pleasantness of the city has made it a highly attractive with commuters, and house prices have been kept high because of the demand.
Although many of the inhabitants pack themselves onto trains and head for London every working day, St Albans, with its economically active population, has quite an advanced infrastructure to maintain, which is why it is not unusual for Head of Compensation & Benefits positions to become available either in the city itself or in nearby Watford, Luton or Hemel Hempstead.
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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.
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