Understanding the Role of an HR Executive and How to Maximize HR Executive Salaries by Leveraging an Executive Compensation Consultant

Posted: November 3, 2020

Human Resource Executives are responsible for overseeing the HR Department of an organization and setting standards, policies, and procedures for employees, managers, and executives. HR Executives are tasked with directing the process of hiring, onboarding, and discharging employees and short-term staff members, as well as leaders within the organization. As the top tier of personnel management, HR Executives provide a valuable keystone function to the organization. A well-seasoned HR Executive will not only have a desirable educational background and employment history, but broad interpersonal skills that encompass leadership, communication, and cross-collaboration. A thorough knowledge of local, state, and federal employment laws is also critical to the role of an HR Executive. HR Executives often work closely with the CEO and Board of Directors of an organization in many aspects of compensation planning. Together, HR Executives and organizational leaders develop strategic plans and initiatives to promote efficiency among employees. HR Executives are also responsible for administering and changing benefit plans, health and insurance plans, as well as retirement plans, such as SERP plans, which often entails conducting market research to ensure benefit packages will attract competitive candidates and satisfy existing employees. Along with the HR team, HR Executives are tasked with monitoring the progress of employees and ensuring that the productivity of the organization meets its goals. HR Executives also identify opportunities to optimize human relations and assume the challenging role of mediating conflict and work performance problems in order to establish a more seamless work environment. HR Executives are responsible for ensuring that any conflicts that arise are escalated to the appropriate level for resolution. Furthermore, these executives may also be tasked with conducting exit interviews, updating and reviewing job descriptions, and promoting employee satisfaction across the board. Those seeking employment as HR Executives stand to benefit from retaining an Executive Compensation Consultant prior to accepting an offer or negotiating a salary. Executive Compensation Consultants are responsible for analyzing executive compensation and pay-for-performance relationships and have a broad understanding of the requirements and regulations relating to executive compensation. A skilled Executive Compensation Consultant will provide insight into the market for HR Executives and will be able to help leverage degrees, certifications, and experiences of prospective candidates to gain a competitive edge in the market and leverage the scope of their qualifications in order to negotiate an optimal salary and compensation package. Top HR Executives in the US earn on average nearly $250,000 annually as of September 2020, with a typical pay range between $198,000 and $312,000. In tandem with providing insight about salary expectations for an HR Executive, executive compensation consultants will also provide insight about the value of executive payout from the bottom up—not only as a function of annual salaries and bonuses, but also stock ownership. Partnering with an executive compensation consultant in the process of exploring opportunities as an HR Executive may yield excellent results insofar as negotiating an optimal salary or benefits package. To learn more about maximizing executive salary, visit our Contact Page, or contact us directly by email at fglassner@veritasecc.com or by phone at 415-618-6060.