What do Compensation and Benefits Managers do?
Plan, direct, or coordinate compensation and benefits activities of an organization.
- 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.
- Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
- 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, 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.
- 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.
- Prepare budgets for personnel operations.
- 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.
- Develop methods to improve employment policies, processes, and practices, and recommend changes to management.
- 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.
- Negotiate bargaining agreements.
- Conduct exit interviews to identify reasons for employee termination.
- Plan and conduct new employee orientations to foster positive attitude toward organizational objectives.
- Advise management on such matters as equal employment opportunity, sexual harassment and discrimination.
- Investigate and report on industrial accidents for insurance carriers.
- 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.
- Represent organization at personnel-related hearings and investigations.
- Contract with vendors to provide employee services, such as food services, transportation, or relocation service.
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