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 North East
Covering Northumberland, Tyne and Wear, Teeside and County Durham, the North East includes the cities of Durham, Sunderland and Newcastle upon Tyne, as well as other communities like Gateshead, Middlesbrough and Darlington.
In the 18th, 19th and early 20th centuries, the area's economy mainly relied on shipbuilding, heavy industry, coal mining and manufacturing. However, most of these faced significant decline after the second world war.
The region's economy is now mainly based in the service sector, and it is also known for its retail, art and culture. A number of tech companies are located in the North East, as well as businesses based in the petrochemical and steel industries.
What's more, the region is home to a significant amount of scientific research, particularly at the Centre for Life. This facility in Newcastle includes exhibition space for tourists, as well as a number of working laboratories that are used by biotechnology companies and medical clinics.
For those seeking Head of Compensation & Benefits roles, just some of the companies that have headquarters or manufacturing facilities in the North East include Santander, Sage Group, Virgin Money, Tetley Tea, McCoy's Crisps, Greggs the Bakers, Nestle and Coca Cola.
In addition, there's BAE Systems, which manufactures military tanks, while Siemens produces steam turbines and Nissan operates the largest car factory in the UK.
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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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