Joslin Rowe Reports Credit Crunch Causes Demand for Compensation
on: September 5, 2008, 7:25 am
Release Author: Joslin
Release Summary: The number of compensation analyst and compensation
manager jobs increase as banks rush to revamp remuneration plans
Release Body: According to new research from City HR recruitment
consultancy Joslin Rowe, while August may have been a
damp squib weather wise, in the HR jobs market recruitment activity
has been boiling over.
latest figures show that demand for good HR professionals, especially
and benefit jobs has actually increased - despite the credit
crunch and the usual seasonal summer slowdown.
Cooper, senior consultant with Joslin
Rowe, reflected, “The ongoing banking crisis
is actually fuelling the volume of compensation analyst and compensation
manager jobs. 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 compensation analyst and compensation jobs
to do this.”
Joslin Rowe data shows financial services firms
are willing to pay a premium to secure the best compensation professionals
at all levels of recruitment for current finance
jobs - from analyst to strategic manager jobs.
we assisted a compensation analyst 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", said Cooper.
demand is filtering into a much faster recruitment process, according
to the research. Joslin Rowe found that 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
jobs recruitment market - and it may become faster.
the clock may be ticking. Currently the banks are desperate to
get people on board now so that they can start looking at the
2009/10 budget period. As soon as a new compensation analyst CV
appears, the banking
jobs interview requests flood in.
concluded, “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 compensation analyst jobs and compensation manager roles on
offer are very strategic - after all most companies know they
need to act now to make a real difference to business performance”.
Established in 1982, Joslin Rowe is one of the leading UK financial
services recruitment firms in the UK. Joslin Rowe consultants,
candidates and clients work together to achieve the best employment
opportunities and long term relationships. Joslin Rowe recruits
for jobs across London, Edinburgh and Glasgow including long-term
contracts, temporary and permanent roles. Joslin Rowe is a Randstad
company - the second largest HR services group globally.
Details: Belinda Walmsley
Bell Court House
11 Blomfield Street
+44 7789 682 754