Compensation and Benefits Managers

• 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.

Source: O*NET OnLine information for Compensation and Benefits Managers.

• 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.
• 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.
• Time Management - Managing one's own time and the time of others.
• Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
• Management of Personnel Resources - Motivating, developing, and directing people as they work, identifying the best people for the job.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.

Source: O*NET OnLine information for Compensation and Benefits Managers.