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What do Compensation and Benefits Managers do?

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

What are the Main Tasks of Compensation and Benefits Managers?

  • 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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