What can I earn as: a compensation and benefits manager in the South West?

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.

Prospects are…

…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.

By Hays Human Resources

Comments are closed.