A benefits manager oversees a company’s employee benefits, including creating benefit packages, ensuring compliance with regulations, and monitoring benefits performance. They may have a background in HR, accounting, or business administration and may pursue formal education in benefits management.
The benefits manager is a professional responsible for overseeing the administration of all benefits provided by a company to its employees. Sometimes called a benefits specialist, the benefits manager is usually part of the larger Human Resources team. In smaller companies, the benefits manager role is often subsumed under other Human Resources tasks and handled by one or two people.
A key role in benefits administration is the creation of the employee benefits package offered to people who come to work for the company. The benefits manager helps establish the criteria that the employee must meet to access various benefits. Within the scope of this task, the manager must ensure compliance with applicable government regulations. Above and beyond meeting government standards, the benefits manager can work with owners and other managers to provide additional benefits as part of employee incentives.
In addition to defining who is eligible to receive benefits, the benefits manager also plays an important role in establishing these benefit plans. This means evaluating and committing to health and life insurance programs. The benefits manager will also be called upon to review the establishment of retirement and pension plans, as well as any profit sharing or employee stock programs that the company wishes to consider. As the benefits manager is a director of the company, he or she will endeavor to provide the best benefits that the current condition of the company warrants.
A benefits manager’s job doesn’t end once benefits packages are defined and activated. All types of benefits require monitoring to ensure they are performing as expected. In addition, the benefits manager is often the individual called upon to resolve issues that employees may encounter with one of the benefits package elements and explain benefits to new employees.
Benefits managers often pursue some form of formal education in preparation for the job. While a degree in some aspect of Human Resources is often present, an effective benefits manager may also have a background in accounting or a degree in business administration. Today, there are institutions of higher learning that offer degree and certificate programs that directly relate to the field of benefits management.
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