Head of Compensation & Benefits - Banffshire
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.
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Head of Compensation & Benefits Jobs in Banffshire
The historic county of Banffshire is now split between the County of Moray and Aberdeenshire, but still retains a sense of identity. It traditionally wedged its way into Scotland from the Moray Firth at its north, between Moray, Aberdeenshire and Inverness-shire which it bordered. Its county town was Banff, which is a small town of about 4000 population on the northern coast, now part of Aberdeenshire. The south-western tip of the old county would now sit right in the heart of the Cairngorms National Park.
Banffshire is a small and relatively sparsely populated area of Scotland, so opportunities for Head of Compensation & Benefits positions are limited. However it does sit on the main A98 coast road, as well as the A97 and A947, so is well connected. Commuting opportunities for jobs in Aberdeen or Inverness should not be ruled out.
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