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.
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.
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.
One of the UK's fastest growing towns, Colchester is located in Essex, approximately 60 miles from London and 30 miles from Stansted Airport. A popular choice for those who choose to commute to the capital for work, Colchester also offers a variety of Head of Compensation & Benefits opportunities within its local area.
Colchester is often called the oldest town in Britain, and its market is also one of the oldest in the country. It was granted its first royal charter in 1189 and by the end of the 14th century, it had become an important location for the manufacture of woollen cloth.
Further growth of the textile industry occurred in the late 16th century when Flemish weavers immigrated to the area, bringing with them new methods of cloth making.
With the start of the Industrial Revolution, Colchester's economy began to expand and was no longer based on textiles alone. In 1865, Standard Ironworks was started by James Noah Paxman - this would later become Paxman Diesels.
From the beginning of the 20th century, the textile industry began to decline. These days, the town's economy has shifted away from agriculture and industry, and has moved towards the service sector, although a number of manufacturing facilities still exist in the area.
Many of the top employers in modern Colchester are in the public sector, including Colchester Borough Council, the University of Essex and the local NHS trust.
The IT sector also provides a number of jobs and so does the financial industry. Meanwhile retail is one of the fastest growing sectors in the area.
If you're ready to find a new Head of Compensation & Benefits vacancy in Colchester, Cast UK can help.
As experts in recruitment for the procurement, logistics and supply chain sectors, we work hard to find the best talent for every role and will work with you to find a position that matches your skills and knowledge.
To find out more about how Cast UK can help you find and recruit candidates within Colchester or source a new job in Colchester then contact one of our consultant team on 0333 121 3345.
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