Also known as…
…reward manager, reward and benefits manager, or compensation and benefits specialist.
What you need to succeed…
You will normally need a relevant degree and the full CIPD qualification. Experience-wise, you may have started out in tax, accounting or generalist HR, before spending at least three to five years working in a compensation, benefits or rewards environment.
Requirements will vary between organisations, but the ideal candidate will have experience of:
Job evaluation and grading
Providing commercially-focused reward strategies
Designing and implementing effective communication strategies.
What is involved…
You will be responsible for managing all reward and benefits strategies for the organisation – developing, implementing and administering the policies and programmes that support its objectives. Typically, the workload will include:
Researching, proposing and implementing new pay structures and benefits programmes
Monitoring the progress of benefits programmes, ensuring their effectiveness and relevance to organisational objectives
Analysing and reporting on reward issues
Delivering annual salary and bonus reviews
Developing an effective grading system for staff
Managing the reward and benefits budget
Ensuring effective bidding for the renewal of benefits plans
Administering executive compensation schemes.
…very good. It is very much a candidate-driven market – especially at senior level. Within reward, there are even opportunities to specialise, as large organisations often distinguish between the different areas of compensation and benefits, and have a specialist manager within each field.