Head of Compensation & Benefits - Lowestoft
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.
Popular Cities & Towns
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Milton Keynes, Buckinghamshire
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Continuous Improvement Analyst (6-9 month FTC)
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Mechanical Workshop Engineer
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Typical roles we recruit forROLES
Head of Compensation & Benefits Jobs in Lowestoft
On the north-eastern tip of Suffolk, 7 miles (11 km) south of Great Yarmouth and 21 miles (33 km) south east of Norwich, is the port town of Lowestoft. The town has a long history as a fishing and freight port town, and some of the earliest evidence of settlement in the UK has been found here. Unfortunately, the town's location and its harbouring of vessels and materials for the war efforts meant that it was bombed and shelled during both world wars, as was the case with many towns on the east coast.
Lowestoft got its railway link in the 19th century and this helped the town to boom as its trawlers' catches could be taken away to the cities quickly. The railway also stimulated other industry to set up there, as it made imports and exports simple by land and sea. Until the 1990s there were several multinational companies in the town, but they have largely gone now, and tourism plays a vital role – Lowestoft does have very attractive sandy beaches. Another well known industry was Lowestoft porcelain, which was among the finest in the world in its day.
It is not uncommon for Head of Compensation & Benefits jobs to become available in Lowestoft and the surrounding area as the docks are still active, even if they are not at the same level as they were fifty years ago. There is still a major Birds Eye factory in the town, and the headquarters of Hoseasons Holidays is located there. Much employment comes from the oil and gas industries, too, and recently Lowestoft has become a key site for the manufacture of renewable energy equipment, from solar panels to offshore wind turbines. There is a population of around 65,000 and several ,moderately populated towns along the coast, which can all add up to a reasonably active logistics and supply chain sector.
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