Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Supplier NewsRecruitment & retention

Credit crunch causes demand for compensation specialists

by Personnel Today 28 Aug 2008
by Personnel Today 28 Aug 2008

August may have been a damp squib weather wise but in the HR jobs market recruitment activity is boiling over, especially for compensation and benefit roles, says new research from City HR recruitment consultancy Joslin Rowe.

“Demand for good comp and bens professionals has actually increased – despite the credit crunch and the usual seasonal summer slowdown,” reflects Daniel Cooper, senior consultant with Joslin Rowe.

“In fact, the ongoing banking crisis is actually fuelling hires of compensation analysts and compensation managers.  The current market conditions mean that employers are focusing evermore on their bottom line and staff remuneration is an enormous part of this.

“Banks need to pull off the tricky balancing act between retaining the best talent but within the most cost-effective reward structures. Put simply, companies are keener than ever to build robust compensation platforms for the future and they know to do that they must hire the very best compensation people in strategic roles to do this.”

Joslin Rowe data shows financial services firms are willing to pay a premium to secure the best compensation professionals at every level – from analyst to strategic managers.

“Recently, we assisted a candidate on £40,000 to move employers for a new starting salary of £55,000. A 38% pay increase is phenomenal at the best of times – but the fact that it’s happened now in what continues to be a challenging environment shows just how in demand these skills are.”,” says Cooper

This demand is filtering into a much faster recruitment process, according to Joslin Rowe research.

The average time to hire, which is defined as the period from vacancy notification to when someone completes their notice period and starts in that new role, is running at around 2 weeks less for compensation & benefit jobs.

That’s an average recruitment process time of 6 weeks in comparison to 8 weeks for the rest of the HR recruitment market – and it may become faster.

“The clock is ticking. Banks are desperate to get people on board now so they can start looking at the 2009/10 budget period. As soon as a new compensation analyst CV appears, the interview requests flood in.

“For good people with a great compensation & HR background, a solid CV and experience of making improvements to share schemes and benefit plans, there are no end of options. The roles on offer are very strategic – after all most companies know they need to act now to make a real difference to business performance,“ concludes Cooper.

Avatar
Personnel Today

previous post
Equality Bill prompts St John Ambulance recruitment policy overhaul
next post
Migrants not staying long enough to boost local economies

You may also like

Lack of flexibility pushes half of women to...

16 May 2022

easyJet joins battle for cabin crew with £1,000...

16 May 2022

How to build a compelling talent attraction strategy...

12 May 2022

Only 5% of job ad wording fully gender...

9 May 2022

EasyJet tackles staff shortages with seat tactic

9 May 2022

MPs vote against further NHS workforce planning requirements

29 Apr 2022

Disability pay gap wider than in 2014

29 Apr 2022

Avoid salary history questions in recruitment, guide urges

29 Apr 2022

Passport Office: private firm told to hire more...

28 Apr 2022

Ill health and Covid force 400,000 out of...

27 Apr 2022
  • What it really means to be mentally fit PROMOTED | What is mental fitness...Read more
  • How music can help to ease anxiety at work PROMOTED | A lot has happened since March 2020, hasn’t it?...Read more
  • Why now is the time to plug the unhealthy gap PROMOTED | We’ve all heard the term ‘health is wealth’...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+