In terms of skills, there has been definite growth in the area of executive compensation, in part fuelled by the increased scrutiny of packages of senior executives brought about by the financial crisis, but also driven by a real need to attract and retain top talent. The visibility of these packages has increase based around ensuring that the real costs of these benefits / packages are known to the board, finance and of course shareholders.
A marked increase in demand for “global” candidates and ones with specific experience in emerging markets or developing countries has been driven by continued expansion in some areas but also by consolidation of roles and skills in others. Senior reward managers are in effect taking responsibility for larger geographical areas as a way of decreasing head count at a senior level, although these moves are often supported by the addition of analysts or other more junior positions.
There has also been continued controversy around pensions with companies rushing to ensure they complied with auto enrolment and avoided large fines. However, many have found themselves with poorly set up pensions that comply but are not fit for purpose. In effect, pension specialists are being called upon to re-evaluate the pensions that have just been put in place to ensure that they comply with recent regulation and are also competitive in the market place and help in attracting top talent.