What Is an Employee Benefits Manager?
These types of managers work directly for organizations and are responsible for their employee benefits programs, such as health insurance, retirement plans, disability insurance, pension plans, life insurance, childcare services, and education benefits. Typical duties include evaluating and comparing different types of plans, managing paperwork and forms related to benefit plans, providing information to employees about benefits, and helping employees enroll in the most suitable programs.
Managers must frequently examine the employee population at their particular company in order to determine specific needs that can be met through benefit programs. In order to remain competitive, they are often required to compare current benefits programs with those of similar companies. With the information they gather from these comparisons, they may then create new programs, change current programs, or enroll in different programs altogether. Employee benefits managers typically work in comfortable office environments during regular business hours along with other professionals in the human resources department.
How to Become an Employee Benefits Manager
Those who want to become employee benefits managers should earn a bachelor’s degree in human resource management, human resources development, or labor and industrial relations. In these types of majors, students learn about the business world and how human resources functions within it, along with important aspects like employee relations, benefit packages, and program administration. Common courses include compensation and benefits, legal issues in employment, employee and labor relations, performance appraisal, union organizing and labor relations, collective bargaining, and labor economics.
Employers typically like to see applicants who have gained related experience through participating in internships or part-time jobs related to human resources. Candidates most likely to attain positions as employee benefits managers are those who possess excellent communication, analytical, organizational, and interpersonal skills. Some employers might require applicants to have earned specialized certifications related to benefits programs. Most often people start out in entry-level or assistant positions dealing with employee benefits within human resources departments before advancing to management positions.
Employee Benefits Manager Career Outlook & Salary
Many companies that are choosing to expand their services and hire more employees are finding that they also need to hire individuals who are qualified to manage benefits programs. According to the U.S. Bureau of Labor Statistics, the employment of labor relations managers and specialists is projected to increase by 22% within the next decade, with the employment of compensation and benefits managers increasing by 9%. This is due to an increase in legislation revising occupation standards and policies, more companies expanding their number of employees, and a growing emphasis on employee relations and development.
Competition for these types of jobs is expected, but those with a relevant educational background, related experience, and certifications will be the most qualified. The Bureau reported that the median annual wages of compensation and benefits managers was $86,500 in May 2008, with those employed in computer systems design and related services earning the highest amounts.
