Compensation and Benefits Managers

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About the Job

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

It is also Called

  • Benefit Director
  • Benefits Administrator
  • Benefits Coordinator
  • Benefits Manager
  • Compensation and Benefits Manager
  • Compensation Director
  • Compensation Manager
  • Compensation Vice President
  • Employee Benefits Coordinator
  • Employee Benefits Director
View All

What They Do

  • 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.
  • Advise management on such matters as equal employment opportunity, sexual harassment, and discrimination.
  • Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
  • Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
  • Negotiate bargaining agreements.
  • Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
  • Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and personnel policies.
  • Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.
  • Prepare detailed job descriptions and classification systems and define job levels and families, in partnership with other managers.

Interests

People who work in this occupation generally have the interest code: ECS.

This means people who work in this occupation generally have Enterprising interests, but also prefer Conventional and Social environments.

Work Values

People who work in this occupation generally prize Relationships, but also value Working Conditions and Support in their jobs.

Things They Need to Know

  • Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Things They Need to Be Able to Do

  • 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.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Education Required

Most of these occupations require a four-year bachelor's degree, but some do not.

Wages

In 2017, the average annual wage in Ohio was $121,470 with most people making between $63,520 and $184,780

Outlook

0.39%
avg. annual growth

During 2014, this occupation employed approximately 760 people in Ohio. It is projected that there will be 790 employed in 2024.

This occupation will have about 3 openings due to growth and about 27 replacement openings for approximately 30 total annual openings.

Work Keys

This occupation requires a Gold certificate

Skill Level
Locating Information5
Reading for Information5
Observation4
Applied Mathematics3