Compensation Manager Mock Interview
Master 35 Compensation Manager interview questions covering pay equity, market analysis, and benefits design.
Question 21 of 35
Why do you think it is important for companies to hire compensation professionals?
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Amy Hagan is an HR Executive turned HR Consultant. She has 20+ years of experience in human resources, including HR Specialist for the US Department of Defense.
While it may seem like it, your interviewer certainly isn't looking for you to justify your work by asking this question. What they are looking for is that you have a definite understanding of why compensation departments exist and why they are vital to the success of any organization. When answering this question, ensure you impart to the interviewer the strategic importance of compensation. Spend time talking about how proper compensation can assist companies in meeting strategic goals.
Amy Hagan is an HR Executive turned HR Consultant. She has 20+ years of experience in human resources, including HR Specialist for the US Department of Defense.
"To be their most efficient, an organization needs to make sure they have the right people in the right place at the right time to meet their strategic goals. If a company pays too high of a wage, they lose valuable dollars. If a company pays too little, they lose their best team members to other organizations. Most organization's largest bill is in the form of wages and benefits. If you do not have a compensation professional on staff, you may not be paying enough, or you may be paying too much. It is a science to find the right salary that works for both the employer and the employee. Compensation professionals understand this nuance, and that is why they are a critical hire for any organization."
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