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 the West Midlands
Comprising seven metropolitan boroughs - the city of Birmingham, the City of Coventry, Dudley, Solihull, Sandwell, Walsall and the City of Wolverhampton, the West Midlands is an English county with plenty of opportunities for those seeking Head of Compensation & Benefits vacancies.
Throughout history, the region has been known for its commerce and industry. During the Middle Ages, wool and cloth manufacture brought a significant amount of wealth to the West Midlands, particularly in Coventry.
By the 1700s, metalworking, small arms manufacture and mining were all important for the local economy, and this expanded to include bicycle building during the Industrial Revolution and beyond. In addition, two large banks - Lloyds and Midlands Bank (which later became HSBC) were both founded in the region during the 18th and 19th centuries.
Fast forward to today and the West Midlands is thriving. Birmingham, which vies with Manchester for the title of Britain's second city, has been called one of the best places in the country to have a business and it seems that big companies agree.
From finance and media, to manufacturing, engineering, tourism, retail and the service sector, there are many well-known organisations with headquarters or other large facilities in the region - including Cooks the Bakery, Marston's, Chubb Locks and Carillion.
Jaguar, Land Rover and MG cars are also manufactured in the West Midlands, along with London's iconic black taxis.
Popular locations
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.
Contact us