Compensation and Benefits Managers
Overview
SaveJob Zone Four: Considerable Preparation Needed
Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, conservation scientists, art directors, and cost estimators.
Plan, direct, or coordinate compensation and benefits activities of an organization.
Yearly Salary
| High: | $208K |
| Median: | $125K |
| Low: | $70K |
Demand
Core Tasks
- Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and personnel policies.
- Design, evaluate, and modify benefits policies to ensure that programs are current, competitive, and in compliance with legal requirements.
- Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
- Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plan.
- Identify and implement benefits to increase the quality of life for employees by working with brokers and researching benefits issues.
- Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.
- Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
- Mediate between benefits providers and employees, such as by assisting in handling employees' benefits-related questions or taking suggestions.
- Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.
- Prepare detailed job descriptions and classification systems and define job levels and families, in partnership with other managers.
- Develop methods to improve employment policies, processes, and practices, and recommend changes to management.
- Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
- Plan and conduct new-employee orientations to foster positive attitude toward organizational objectives.
- Prepare budgets for personnel operations.
- Negotiate bargaining agreements.
- Study legislation, arbitration decisions, and collective bargaining contracts to assess industry trends.
- Maintain records and compile statistical reports concerning personnel-related data, such as hires, transfers, performance appraisals, and absenteeism rates.
- Prepare personnel forecasts to project employment needs.
- Analyze statistical data and reports to identify and determine causes of personnel problems, and develop recommendations for improvement of organization's personnel policies and practices.
- Contract with vendors to provide employee services, such as food services, transportation, or relocation service.
- Advise management on such matters as equal employment opportunity, sexual harassment, and discrimination.
- Represent organization at personnel-related hearings and investigations.
Technology Skills
Technology
Example
Hot Technology
Tools Used
Tool
Example
Top 10 Knowledge Required
Personnel and Human Resources
87%
Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
English Language
82%
Knowledge of the structure and content of the English language including the meaning and spelling of words, and rules of composition and grammar.
Administration and Management
80%
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.
Customer and Personal Service
76%
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.
Economics and Accounting
68%
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Mathematics
67%
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Administrative
61%
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Law and Government
61%
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Communications and Media
58%
Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
Computers and Electronics
57%
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Top 10 Skills
Active Listening
80%
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.
Reading Comprehension
80%
Understanding written sentences and paragraphs in work-related documents.
Speaking
80%
Talking to others to convey information effectively.
Writing
80%
Communicating effectively in writing as appropriate for the needs of the audience.
Critical Thinking
78%
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Judgment and Decision Making
78%
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Active Learning
75%
Understanding the implications of new information for both current and future problem-solving and decision-making.
Management of Personnel Resources
73%
Motivating, developing, and directing people as they work, identifying the best people for the job.
Time Management
73%
Managing one's own time and the time of others.
Social Perceptiveness
70%
Being aware of others' reactions and understanding why they react as they do.
Top 10 Abilities
Oral Comprehension
80%
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression
80%
The ability to communicate information and ideas in speaking so others will understand.
Written Comprehension
80%
The ability to read and understand information and ideas presented in writing.
Written Expression
80%
The ability to communicate information and ideas in writing so others will understand.
Problem Sensitivity
75%
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
Speech Clarity
75%
The ability to speak clearly so others can understand you.
Speech Recognition
73%
The ability to identify and understand the speech of another person.
Deductive Reasoning
70%
The ability to apply general rules to specific problems to produce answers that make sense.
Near Vision
70%
The ability to see details at close range (within a few feet of the observer).
Inductive Reasoning
68%
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Top 10 Work Activities
Communicating with Supervisors, Peers, or Subordinates
90%
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Establishing and Maintaining Interpersonal Relationships
89%
Developing constructive and cooperative working relationships with others, and maintaining them over time.
Getting Information
87%
Observing, receiving, and otherwise obtaining information from all relevant sources.
Working with Computers
87%
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Making Decisions and Solving Problems
85%
Analyzing information and evaluating results to choose the best solution and solve problems.
Communicating with People Outside the Organization
83%
Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
Evaluating Information to Determine Compliance with Standards
83%
Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Updating and Using Relevant Knowledge
83%
Keeping up-to-date technically and applying new knowledge to your job.
Developing Objectives and Strategies
80%
Establishing long-range objectives and specifying the strategies and actions to achieve them.
Analyzing Data or Information
79%
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Detailed Work Activities
- Manage human resources activities.
- Evaluate program effectiveness.
- Administer compensation or benefits programs.
- Prepare financial documents, reports, or budgets.
- Prepare reports related to compliance matters.
- Maintain regulatory or compliance documentation.
- Monitor external affairs or events affecting business operations.
- Analyze data to inform personnel decisions.
- Liaise between departments or other groups to improve function or communication.
- Supervise employees.
- Document organizational or operational procedures.
- Develop operating strategies, plans, or procedures.
- Recommend organizational process or policy changes.
- Develop organizational policies or programs.
- Maintain knowledge of current developments in area of expertise.
- Conduct employee training programs.
- Prepare operational budgets.
- Negotiate labor disputes.
- Estimate labor requirements.
- Compile operational data.
- Maintain personnel records.
- Negotiate sales or lease agreements for products or services.
- Advise others on legal or regulatory compliance matters.
- Represent the organization in external relations.
Education
Interests
Enterprising
100%
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
Conventional
80%
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
Social
53%
Work involves helping, teaching, advising, assisting, or providing service to others. Social occupations are often associated with social, health care, personal service, teaching/education, or religious activities.
Investigative
35%
Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the fields of humanities, mathematics/statistics, information technology, or health care service.
Artistic
22%
Work involves creating original visual artwork, performances, written works, food, or music for a variety of media, or applying artistic principles to the design of various objects and materials. Artistic occupations are often associated with visual arts, applied arts and design, performing arts, music, creative writing, media, or culinary art.
Realistic
15%
Work involves designing, building, or repairing of equipment, materials, or structures, engaging in physical activity, or working outdoors. Realistic occupations are often associated with engineering, mechanics and electronics, construction, woodworking, transportation, machine operation, agriculture, animal services, physical or manual labor, athletics, or protective services.
Work Values
Relationships
86%
Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Independence
81%
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Support
81%
Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
Working Conditions
81%
Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Achievement
77%
Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Recognition
72%
Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Majors
Colleges
SAGE Scholars Member Schools that offer majors leading to this career.
Check out the College Search to see the full list of schools with majors for this career.