The benefits manager job description calls for expertise in the design and implementation of various types of benefits programs. Employee benefits packages are becoming increasingly important as costs continue to go up and benefit options become more complex.
An employee benefits manager is responsible for the overall benefits package for all employees from entry level to executive with particular attention being paid to health insurance and pension plans.
Essential Duties and Responsibilities of a Benefits Manager
- Monitors annual open enrollment processes.
- Coordinates with all company departments when creating new or updated benefits packages.
- Evaluates all vendor proposals and negotiates the best price for the company.
- Ensures maximum cost effectiveness of benefits packages.
- Performs marketing analysis to aid in the design of benefits packages.
- Ensures compliance with all government rules and regulations.
- Administers all compensation policies and procedures.
- Prepares reports required by government agencies for distribution to all company personnel.
- Develops tools to assist employees in accessing and making certain changes to benefits as permitted by law.
- Assists the Human Resources Department in the preparation of job descriptions and salary programs.
- Evaluates salary increases according to the company budget.
- Analyzes market data to ensure competitive salary levels.
- Updates benefits packages as needed.
- Recommends changes or improvements to benefits packages and incentive programs.
- Communicates any changes in benefits to all employees.
- Monitors annual renewal processes of health insurance and other benefits.
- Evaluates and ensures timely payment of all billing invoices related to benefits.
- Maintains confidentiality of all employee information.
Required Knowledge, Skills and Abilities
- Must have excellent written and verbal communication skills.
- Have the ability to be an articulate and effective public speaker.
- Must have good decision making skills and exude confidence to subordinates.
- Have superior leadership qualities.
- Must have good negotiating skills.
- Have excellent analytical skills.
- Must have exceptional math skills.
- Must have knowledge of the industry and related markets.
- Have reliable contacts in the insurance industry and among other relevant vendors.
Education and Experience
- Bachelor’s degree in Human Resources, Business Administration, Finance, Economics or a related field.
- Previous experience as a benefits analyst or assistant manager.
- Master’s degree in Business Administration, Human Resources or Psychology.
- Juris Doctor in Law.
- Certification in Benefits Management and Business Acceptance.
- Global Benefits Manager certification.
- Time is spent primarily in a climate controlled private office or shared office space.
- Must be willing to work long hours or weekends when necessary.
- Must be able to travel to various branch offices, possibly even out of the country, when working for a company with multiple locations.
- Time may be spent at out-of-town conferences as a student, participant, exhibitor or speaker.
- Must be willing to serve on boards or volunteer in a community service capacity to represent the company.
- Time may be spent representing the company at Chamber of Commerce meetings or at other meetings of professional organizations or trade groups.
- Average salaries range from $64,000 to $115,000 depending on the size of the company.
- Salaries at very large international corporations can be as high as $250,000.