You may also be known as… Reward officer, reward analyst, compensation analyst, reward administrator or HR officer, reward.
What you need to succeed… You are likely to be a graduate, either CIPD-qualified or part-qualified, with a minimum of 12 months’ compensation and benefits (or related) experience, including knowledge of pensions and tax, and the operation of company share schemes. You will also need excellent numerical and analytical skills, and a demonstrable track record of implementing them – including experience of collating and analysing large amounts of data. Presentation skills and IT skills will also be desirable.
How to get into it… It is usual to start out in a junior, generalist role and gain specific compensation and benefits experience to move into a more specialist position. Given the specialist nature of the role, it is possible to take a non-HR route into this area, and it is quite possible for someone in an analytical or project management role to successfully transfer into the compensation and benefits function.
What is involved… Your remit may involve acting as the first point of contact for queries relating to benefits; administering all benefits systems, such as company healthcare; supporting a flexible benefits scheme, where one is in operation, including annual renewals; dealing with administration relating to share schemes and executive share schemes; sourcing and analysing benchmarking data on compensation and benefits and reporting on this; and preparing headcount reports, attrition analyses and balanced scorecard analyses.
Prospects are… Very good. Compensation and benefits specialists are always in demand, so competitive salary and benefits packages are usually guaranteed.