What Does a Benefits Specialist Do?
- Compare Costs to the Organization of Popular Benefit Plans. ...
- Choice of Investment Mechanism, Pension Terms and Retirement Savings Plans. ...
- Interaction with Employees and the Public. ...
- An Engaging Career for Those with a Technical and Analytical Mind. ...
What should your employee benefits specialists do?
What Does a Benefits Specialist Do?
- Compare Costs to the Organization of Popular Benefit Plans. ...
- Choice of Investment Mechanism, Pension Terms and Retirement Savings Plans. ...
- Interaction with Employees and the Public. ...
- An Engaging Career for Those with a Technical and Analytical Mind. ...
What does employee benefits specialist do?
Working as a benefits specialist requires being able to:
- Confirm that employees understand benefits and how to use them.
- Ensure that benefits comply with state and federal laws.
- Perform cost-benefit analyses.
- Advise management on benefit issues.
- Research benefits packages and industry benefit trends.
- Maintain relationships with outside vendors, like investment brokers.
What does compensation and benefits specialist do?
- Prepares the compensation and benefits budget, including the regular monitoring, reporting and adjusting of the budget
- Coordinates C&B processes like the salary planning, bonus planning, new benefits introduction, etc.
- Designs and develops compensation policies
What are the duties of a specialist?
TALLADEGA — The Talladega City Board of Education unanimously approved a job description for a special education program specialist during its regular meeting Tuesday night. According to Superintendent Dr. Quinten Lee, special education programs can be ...
Is benefits Specialist a hard job?
No, it is not hard to be a benefits specialist. While this requires a certain level of interpersonal and communication skills, the role is straightforward and typically without much excess stress. The biggest challenge can be how to find the best solution for each employee in the limited number of benefit options.
What do you need to know as a benefits specialist?
Benefits Specialist skillsResearch and analytical skills.Organizational and time management skills.Verbal and written communication skills.Knowledge of employee benefits and laws.Computer skillss.
What are the duties of a benefits coordinator?
Job Summary: The employee benefits coordinator position assists employees with benefits enrollment and questions, verifies all insurance billing, maintains employee database and files, and ensures compliance with required benefit notices.
What is a benefits and compensation specialist?
A compensation and benefits specialist is an HR professional who is responsible for managing employee compensation. They are the people employees can go to if they have any questions or concerns about their paychecks or benefits.
Is a benefits specialist a good job?
To an employer, a benefits specialist is invaluable. They have a direct hand in attracting and retaining top talent, keeping up with the job market and the competition, and ensuring that employees are educated on their benefits package so they get the most use out of offerings.
How do I prepare for a benefits coordinator interview?
Interview Questions for Benefits Coordinators:Could you explain what a 401(k) is and how it works? ... How would you go about explaining the company's benefits structure to employees? ... What are some important laws or regulations for benefits that a company should abide by? ... What payroll software have you had experience with?More items...
What does a benefits coordinator do at Aflac?
Aflac Benefit Coordinator Job Duties Providing customer service by answering questions about plan options, filing claims on behalf of policyholders, and referring them to a licensed agent for further assistance. Reviewing enrollment information to identify potential fraud or abuse of policies by policyholders.
What is benefit liaison?
Conducting presentations and meetings to explain benefits to employees. Liaising with insurance and savings providers on behalf of employees and the company. Answering questions or concerns from employees about their benefits. Keeping employee benefits records up to date.
What is the role of a benefits administrator?
The benefits administrator position is responsible for directing and planning the day-to-day operations of group benefits programs (group health, dental, vision, short-term and long-term disability, worker's compensation, life insurance, travel and accident plan, flexible spending plan, retirement plans, etc.).
What does HR do in compensation and benefits?
Oversee pay distribution to employees. Work with managers to develop employee promotion and retention strategies. Oversee compensation and payroll support teams. Develop and monitor a department budget.
How can I be a good benefits manager?
What Key Skills a Benefits Manager Needs to be SuccessfulGood Analytical Skills. In order for a benefits manager to be successful in their role, they are required to have good analytical skills. ... Good Computer Skills. ... Good Communication Skills. ... Master Human Resources Software. ... Be a Good Negotiator. ... Be Organized.
What skills are needed to excel as a benefits specialist?
Benefits specialists need excellent analytical skills for comparing different healthcare and 401(k) providers. They must be able to communicate the...
Is this a position with a lot of potential job opportunities in the future?
Benefits specialists work in nearly every industry, and therefore this job is frequently in demand. According to the U.S. Bureau of Labor Statistic...
Are there any careers similar to being a benefits specialist?
There are many similar HR careers to a benefits specialist, such as an HR coordinator or benefits analyst. An HR coordinator usually works for a sm...
What is the working environment like?
A benefits specialist works in a fast-paced environment. Be prepared to make high-level decisions based on your own research and then explain these...
Is there any certification associated with benefits specialists?
There isn't mandatory certification in order to become a benefits specialist, but some certificates are becoming more common in the industry. These...
What skills are needed to excel as a benefits specialist?
Benefits specialists need excellent analytical skills for comparing different healthcare and 401 (k) providers. They must be able to communicate the necessity of a particular benefits package to top-level managers and translate what the benefits packages provide for the employees.
Is this a position with a lot of potential job opportunities in the future?
Benefits specialists work in nearly every industry, and therefore this job is frequently in demand. According to the U.S. Bureau of Labor Statistics, employment in this career is projected to grow 6% from 2018 to 2028.
Are there any careers similar to being a benefits specialist?
There are many similar HR careers to a benefits specialist, such as an HR coordinator or benefits analyst. An HR coordinator usually works for a smaller company and oversees the recruitment of employees, payroll processing and general administrative support.
What is the working environment like?
A benefits specialist works in a fast-paced environment. Be prepared to make high-level decisions based on your own research and then explain these decisions to employees. A benefits specialist needs to be comfortable having conversations with both the CEOs and new hires.
Is there any certification associated with benefits specialists?
There isn't mandatory certification in order to become a benefits specialist, but some certificates are becoming more common in the industry. These certificates include Master Certified Compensation Professional (MCCP), Certified Employee Benefits Specialist (CEBS), Professional in Human Resources (PHR) and many more.
What is benefits specialist?
A benefits specialist is a trained professional who generally works in the human resources (HR) department of an organization. In addition to being called compensation, benefits and job analysis specialists, benefits specialists may also be referred to as compensation specialists, job analysis specialists and position classifiers ...
What is compensation and benefits specialist?
Also known as compensation, benefits and job analysis specialists, these professionals oversee an organization’s compensation and benefits programs. They typically need at least a bachelor’s degree and relevant work experience to be hired for this position.
What skills do benefits specialists need?
In order to put together the best benefits packages, the benefits specialists must have good business and analytical skills. They must also have good communication skills because so much of their day is spent communicating with employees and the public.
What factors affect benefits specialist wages?
Certain factors, such as education, training, experience, type of employer and location , can all play a role in the type of wages a benefits specialist can earn. The example below indicates the effect location can have on wages. The top chart is the states where benefits specialists earn the highest wages, and the bottom list shows ...
What is an employee benefit specialist?
Employee Benefits Specialists are professionals who gauge the needs of an employer and their staff, what benefits are important to them. The specialists then adjust or custom design a benefits plan to best fit each company’s unique values and budget and then manage the benefits on behalf of the business.
What is the goal of a health specialist?
A specialist’s overall goal is to improve employee health and decrease health-related costs. All employers should at least seek consultation from a knowledgeable benefits specialist, such as a Healthcare Consultants, Inc. representative, to review their current plan for any improvements.
Is it easy to find out what benefits are sought after?
But, it’s not as easy as finding out what benefits are sought after and simply offering them. Employers nowadays are burdened with so many human resources and management functions, on top of overseeing all other operations of a business. Finding the time to shop for and implement employee benefits can be a struggle.
What are the duties of a compensation and benefits specialist?
Daily responsibilities and duties of compensation and benefits specialists include: Researching compensation and benefits policies and plans. Ensuring compensation and benefits plans are cost-effective and competitive. Monitoring and researching compensation and benefits trends.
Why are compensation and benefits specialists important?
Compensation and benefits specialists often enjoy more visibility and prestige because their work is linked directly to the performance of the organization and they therefore work alongside the highest levels of management .
What is the responsibility of a senior compensation and benefits specialist?
Therefore, the focus of senior-level compensation and benefits specialists is on compensation and benefits as they relate to employee performance, company goals, sales incentive plans, and executive bonuses, among others. The overall responsibility of compensation and benefits managers is to manage an organization’s compensation and rewards program.
How much did compensation and benefits managers make in 2012?
The top 10 percent of compensation and benefits managers earned more than $172,450 in May 2012, while the top 10 percent of compensation and benefits specialists earned more than $92,520 during the same period.
What is compensation and benefits manager?
How to Become a Compensation and Benefits Manager. Compensation and benefits managers, also known as remuneration professionals, are responsible for overseeing employee compensation, compensation databases, job descriptions, benchmark compensation, annual performance reviews, and employee benefits. FIND SCHOOLS.
Is a compensation specialist required to have a certification?
Professional Certification. Although certification is not mandatory for compensation and benefits specialists, it is becoming more commonplace, as it sets a minimum standard of knowledge and allows professionals to be seen as business leaders who are committed to the profession.
What Is a Benefits Specialist?
A benefits specialist handles employee compensation packages, including retirement and insurance benefits as part of a company’s human resources (HR) department.
How to Become a Benefits Specialist
To become a benefits specialist, you need a bachelor’s degree in human resources and ample work experience, though some jobs may require a master’s degree. In these education programs, you learn the basics of business management, ethics, and the intricacies of human resources.
Benefits Specialist Job Description Sample
With this Benefits Specialist job description sample, you can get a good idea of what employers are looking for when hiring for this position. Remember, every employer is different and each will have unique qualifications when they hire for a Benefits Specialist role.
What is a benefits specialist?
Benefits specialists, also known as benefits coordinators, are responsible for managing a company's employee benefits program.
What is the job of a benefits officer?
Conducting presentations that educate employees about their benefits. Informing employees about any changes to the benefits structure. Ensuring the company's benefits and leave-of-absence policies comply with the law. Keeping up-to-date records of each employee's benefits profile.
Benefits Specialist Career Path
Learn how to become a Benefits Specialist, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Benefits Specialist Insights
Read what Benefits Specialist professionals have to say about their job experiences and view top companies for this career.
What is a compensation and benefits specialist?
A compensation and benefits specialist is an HR professional who is responsible for managing employee compensation. They are the people employees can go to if they have any questions or concerns about their paychecks or benefits. Companies hire these HR professionals to ensure the payment aspect of the company is running efficiently.
What do compensation and benefits specialist do?
A compensation and benefits specialist is responsible for the following tasks:
Salary and job outlook for compensation and benefits specialist
While compensation and benefits specialist is a single job title, there is salary information on compensation specialists and benefits specialists. A compensation specialist makes a national average salary of $84,409 per year. Common benefits for this job title include stock options, wellness programs, AD & D insurance and company-provided food.