Compensation and Benefits Manager

What Do Compensation and Benefits Managers Do?

Career Description : Plan, direct, or coordinate compensation and benefits activities of an organization.

Interested in this role You can find all the relevant information in the description below.

Life As a Benefits Manager : What Do They Do?

• Negotiate bargaining agreements.
• Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plans.
• Advise management on such matters as equal employment opportunity, sexual harassment, and discrimination.
• Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.
• Design, evaluate, and modify benefits policies to ensure that programs are current, competitive, and in compliance with legal requirements.
• Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.

Benefits Manager Needed Skills

Below is a list of the skills most Compensation and Benefits Managers say are important on the job :

• Reading Comprehension : Understanding written sentences and paragraphs in work-related documents.
• Active Listening : Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Speaking : Talking to others to convey information effectively.
• Critical Thinking : Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
• Judgment and Decision Making : Considering the relative costs and benefits of potential actions to choose the most appropriate one.
• Writing : Communicating effectively in writing as appropriate for the needs of the audience.

Is There Going to be Demand for Compensation and Benefits Managers?

In 2016, there was an estimated number of 15,800 jobs in the United States for Compensation and Benefits Managers. New jobs are being produced at a rate of 5.

1%, which is below the national average. The Bureau of Labor Statistics predicts 800 new jobs for Compensation and Benefits Managers by 2026.

The BLS estimates 1,200 yearly job openings in this field.

What is the Average Salary of a Benefits Manager?

The typical yearly salary for Compensation and Benefits Managers is somewhere between $70,560 and $205,470.

What Tools & Technology do Compensation and Benefits Managers Use?

Although they’re not necessarily needed for all jobs, the following technologies are used by many Compensation and Benefits Managers :

• Microsoft Excel
• Microsoft Word
• Microsoft Office
• Microsoft PowerPoint
• Microsoft Outlook
• Microsoft Access
• Microsoft Project
• Microsoft Visio
• Microsoft SharePoint
• IBM Notes
• Adobe Systems Adobe Illustrator
• Microsoft SQL Server
• Oracle PeopleSoft

How to Become a Benefits ManagerWhere Compensation and Benefits Managers Are EmployedRelated Careers

Career changers with experience as a Compensation and Benefits Manager sometimes find work in one of the following fields :

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