Compensation and Benefits Managers

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

Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

1. Design, evaluate and modify benefits policies to ensure that programs are current, competitive and in compliance with legal requirements.

2. Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plan.

3. Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).

4. Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and personnel policies.

5. Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.

6. Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.

7. Identify and implement benefits to increase the quality of life for employees, by working with brokers and researching benefits issues.

8. Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.

9. Prepare detailed job descriptions and classification systems and define job levels and families, in partnership with other managers.

10. Prepare budgets for personnel operations.

11. Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.

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.

Reading Comprehension - Understanding written sentences and paragraphs in work related documents.

Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.

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.

Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Writing - Communicating effectively in writing as appropriate for the needs of the audience.

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.

Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

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.

Job Zone Four: Considerable Preparation Needed

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

Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.

The college search results are undergraduate programs associated with Compensation and Benefits Managers. Further education may also be required to pursue this career.

The training search results include both short and long-term programs associated with Compensation and Benefits Managers, and may be more appropriate for adult and non-traditional students. Further training may also be required to pursue this career.

In NY the average wage for this occupation was:

$64,560 for entry level workers, and $132,440 for experienced workers.

Based on the total number of annual openings and its growth rate, the employment prospects for this occupation are described as Favorable.

During 2006, there were approximately 3,790 Compensation and Benefits Managers employed in NY.

We estimate that in 2016 there will be 3,970  employed in NY. This represents an increase of 20 job(s) each year, and a total of 70 job openings each year.

Human resources, training, and labor relations managers and specialists - Visit this link for additional information on this career from the Occupational Outlook Handbook; a publication produced and maintained by the United States Department of Labor.

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Training and Development Specialists - Conduct training and development programs for employees.