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 West Bromwich
Only five miles north-west of Birmingham, West Bromwich is a large town that offers a number of options for those seeking Head of Compensation & Benefits roles.
For hundreds of years, West Bromwich was mainly an agricultural area and the town first rose to prominence during the 19th century when deposits of coal were discovered in the region.
It grew quickly as a coal mining town and associated industries also arrived. Indeed, the area became known as the Black Country due to the smoke and soot that resulted.
Until the latter half of the 20th century, West Bromwich's economy was based mainly on manufacturing, with one of its main products being metalwork for the automotive industry. Textiles and chemicals were also produced.
The town suffered significant job losses during the 1970s, as more and more factories were moved to locations abroad in order to make use of cheaper workforces.
Today, West Bromwich's economy is mainly based in retail and the service sector; this is particularly due to recent investments to regenerate the area - with large shopping centres like Queen's Square. West Bromwich Building Society has been based in the town for more than 160 years, while the region's main employers are based in the public sector, including Sandwell Metropolitan Borough Council.
Manufacturing, however, does still play a part in the local economy, with products including building supplies and technology.
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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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