Compensation and Benefits Managers
The compensation benefits manager plans to direct or coordinate the compensation and benefits activities of an organization.
The daily tasks of the compensation & benefits manager involve designing, evaluating, and modifying benefits policies to ensure that programs are current, competitive, and in compliance with legal requirements. They further analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plans. Besides, they handle, administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions and fulfilling all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
The knowledge and understanding of topics related to mathematics, customer & personnel service, administration & management, and human resources are needed for this position. Other skills for this role are active listening, reading comprehension, talking to others to convey information effectively, using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems, and considering the relative costs and benefits of potential actions.
To be successful in the role of compensation and benefits manager, any individual to be observant, can communicate effectively, have good communication & listening skills, and can develop constructive and cooperative working relationships with others. Every day’s work context will consist of attending every mail, call, and face-to-face discussion. The compensation and benefits assistant manager salaries pay scale can range from five to seven-figure salary.
Qualifications
Every career requires an element of study and academic qualification, and there can be several study routes and pathways you can take. In following any academic pathway you will study subjects that contribute to the specialised knowledge required to achieve your career goals. These qualifications provide a future employer with the evidence that you have the desired knowledge, understanding and experience of their industry, so it’s important to consider the various types of qualifications available to you and to understand how they can boost your career and create opportunities for you.
- BBA Human Resource Specialisation
- B.A. Social Science
- Bachelor's Any Subject
- MBA HR Specialisation
- M.A. Social Work
Tasks
- Advise management on such matters as equal employment opportunity, sexual harassment, and discrimination.
- Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and personnel policies.
- Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
- Plan and conduct new-employee orientations to foster positive attitude toward organizational objectives.
- Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.
- Identify and implement benefits to increase the quality of life for employees by working with brokers and researching benefits issues.
- Design, evaluate and modify benefits policies to ensure that programs are current, competitive, and in compliance with legal requirements.
- Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plan.
- Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
- Mediate between benefits providers and employees, such as by assisting in handling employees' benefits-related questions or taking suggestions.
Progression Routes
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