Employee Benefits Manager Salary
Job Description for Employee Benefits Manager
An employee benefits manager is a key member of a company's human resources management team. The benefits manager helps administer the fringe benefits for employees throughout the company. These are primarily healthcare benefits, but they also include things like retirement savings plans, vacations, and anything else the organization offers as an employment perk or incentive to employees. The benefits manager not only helps keep employees advised of their benefit options. This person also seeks to continually improve the cost and performance of these benefits in a way that balances costs to the organization, while remaining an attractive perk for hiring and retaining personnel.Read More...
In a benefits administrative capacity, the employee benefits manager works to assure that employees are aware of the benefits available and how to use them. These activities usually revolve around company-subsidized healthcare insurance, and the benefits manager will typically supervise a staff that does all necessary data entry and processing for these applications. The manager will also periodically advise employees as to their rights, as well as offer information on adjusting benefit coverage. They are also responsible for publicizing open enrollment periods during which the personnel in the company may make elective changes.
To work as an employee benefits manager, a person must typically have a university degree in business administration and have practical experience in human resources or a related area. Benefits managers typically work regular business hours during the week in an office environment. They must be organized and possess excellent written and verbal communication skills.
Employee Benefits Manager Tasks
- Ensure compliance of all plans and programs with governmental regulatory agencies.
- Manage vendors to ensure services are delivered within contractual agreements.
- Manage the selection, training and development of benefits staff who administer benefit programs and respond to employee inquiries.
- Propose cost and time efficient changes to benefits programs, manage the annual benefit budgets.
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Pay by Experience Level for Employee Benefits Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience make $45K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $64K. Employee Benefits Managers see a median salary of $71K after reaching one to two decades on the job. Respondents who boast more than two decades on the job don't boast commensurate pay, unfortunately; these veterans see average earnings of only $68K.
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