Why I love Comp
How do I define Compensation & Benefits ?
It's the art of knowing how much and what to give an employee in exchange for his/her work : the base salary, bonus and performance management system, perks, stock-options and long-term incentives, recognition schemes, sales incentives, and benefits such as pension or healthcare… and that's "just" the technical side of it.
Because in Comp and Ben, we also deal with employee motivation and engagement, retention, Mergers & Acquisition, Boards and corporate governance, and yes, unfortunately, crisis management, Reductions in Force and cost-cutting efforts when times are bad.
And of course, with all this, we need to adapt it to the different industries or countries that our employers or clients cover, making sure that we provide the best social and fiscal optimisation possible for both the company and the employees.
Phew ! Throw changing laws and regulations and the impact of national and company cultures in the mix, and you get a truly a never-ending quest. :-)
…. And that's what I love about this field.
You never stop learning.
You never do exactly the same thing twice (no, not even for your annual processes such as salary reviews or bonus pay-outs).
You can bask in the "techie" or "geeky" side of your nature through advanced use of Excel - well… at least compared to the rest of HR ;-), simulations and multiple scenarios analyses, and the legal, cost and fiscal implications of your decisions.
You can use your creativity to design and implement solutions that will truly support your company and its employees.
You get involved in many aspects of running the business, and through it, get real exposure to the organisation, with Finance, Sales and Marketing obviously, but also with the business… and the rest of HR.
You are at the forefront of the organisation, in good times (distributing bonuses and introducing new rewards and recognition practices) and in bad times too (figuring out cost control mechanisms and redundancy plans).
You interact with people at all levels of the organisation, from the junior staff through to line managers, to top Executives and the Board members.
What do you think ? What are your favourite aspects of working in Compensation & Benefits ?
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Reader comments (15)
This is so true, love this article! Thank you Sandrine for your amazing articles that keep me loving what I do.
Muhammad Rizwan
C&B Specialist
DHL Pakistan
I love to see that I'm not the only one feeling so enthusiastic about C&B :-).
It's people like you, Muhammad, who by bringing passion to the job, elevate this function and make it add so much value to organisations. Keep the spirit !
Sandrine
I am feeling like when you are unable to tell what exactly you are feeling in front of a doctor, and you are unable to find the right words. This exactly why I love my work.
Thank you Doctor 😆
I completely agree! I prefer C&B on any other Hr department.
Me too :-D
I like designing benefits. It is a dual role, though: "Hero" when we establish or enhance a new benefit and "Wicked Witch" when we have to remove or reduce one.
Very true :-). That made me smile. Thanks for the comment Laura !
I have not specialized anything in HR as I am a generalist but if asked to choose, I would love to specialize in Total Rewards. :)
That's a great choice Marie ;-). You might want to start by exploring my archives and see if you find some topics interesting for you. I recommend you check this one first : http://compensationinsider.com/all-you-need-to-know-from-compensation-surveys-to-salary-ranges-and-salary-review/
Very touchy topic for me! I am passionate about converting those complex compensation plans to technical solution. I share the techie part of your passion :)
Hi Barkat,
Yes the technical is important as it is the building block for everything. When your clients design their solution, they need to also remember to keep common sense and a vision of what the end result / the goal is, so that the solution meets the needs of the employees as well as those of the company. That's the reality check which makes our work so interesting and varied :-)
I love your quote: You never stop learning
That's why I love compben
Thanks ! Nice to see we have a shared interest Fitri !
Wow how I love this love letter to Comp & Ben ! Spot ON ! Most of us fall and stay in love as it always keeps on our toes.. What is there not to like .. I would say, for me, as a trained engineer passionate about performance and people , Comp & Ben is the ultimate Problem Solving area of HR .. We are problem solver !
We definitely are problem solvers ! Glad that you love C&B as much as I do :-)