Skills & Competencies for Compensation and Benefits Manager

Compensation and Benefits Manager job profile

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JOB SUMMARY for Compensation and Benefits Manager

Manages the design, implementation, administration, communication, and ongoing evaluation of the organization's compensation and benefits programs, policies, and procedures.

JOB RESPONSIBILITIES for Compensation and Benefits Manager

Ensures that compensation and benefits programs support the organization's business objectives and meet all legal requirements. Develops and manages compensation and benefits budgets. Oversees compensation processes, including survey participation, job evaluation, salary structure development, base pay administration, incentive plan design and analysis. Manages benefits planning and programs including health and welfare, retirement, and work life. May select and manage outsourced providers.

Compensation and Benefits Manager SALARY RANGE

BASE 50%
$135,114
TOTAL 50%
$147,682
Job Level
M02
Job Code
HR09200021
Education/Degree
Bachelor's Degree
Reports To
Head of a Unit/Department

Compensation and Benefits Manager Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Compensation and Benefits Manager skill and competencie below to view definitions.
JOB FAMILY COMPETENCIES CORE COMPETENCIES
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9 general skills or competencies (Job family competencies) for Compensation and Benefits Manager

1 Job Family Competencies – Benefit Programs
Proficiency Level -4
Skill definition-Designing, managing, assessing and implementing compensation plan to attract and retain talent.
Level 1 Behaviors
(General Familiarity)
Describes the process of designing employee benefits program.
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Level 2 Behaviors
(Light Experience)
Documents and maintain administrative procedure manuals for managing the benefit program.
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Level 3 Behaviors
(Moderate Experience)
Formulates a benefits plan program based on the results of employee needs assessment and gap analysis.
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Level 4 Behaviors
(Extensive Experience)
Facilitates employee benefit seminars and trainings for employees to ensure mutual understanding.
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Level 5 Behaviors
(Mastery)
Develops communication strategies to ensure benefit programs are fully understood by stakeholders.
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2 Job Family Competencies – Compensation Management
Proficiency Level -4
Skill definition-Managing and determining the salary, bonuses, and benefits to ensure competitive and appropriate compensation for employees.
Level 1 Behaviors
(General Familiarity)
Explains the fundamentals and principles of employee compensation management.
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Level 2 Behaviors
(Light Experience)
Conducts compensation research to adapt and update best practices in compensation management.
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Level 3 Behaviors
(Moderate Experience)
Helps in interpreting salary survey results to support the management of compensation programs.
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Level 4 Behaviors
(Extensive Experience)
Drafts plans of compensation initiatives to ensure successful execution of employee compensation.
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Level 5 Behaviors
(Mastery)
Develops and administers effective compensation programs under our organization's reward strategy.
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3 Compensation and Benefits Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compensation and Benefits Manager
Proficiency Level - 4
5 Competency for - Compensation and Benefits Manager
Proficiency Level - 5

13 soft skills or competencies (core competencies) for Compensation and Benefits Manager

1 Core Competencies – Budgeting
Proficiency Level -4
Skill definition-Applying specific policies, tools and practices to plan and prepare projected revenues, expenses, cash flows, and capital expenditures.
Level 1 Behaviors
(General Familiarity)
Describes the procedures for capital and expense allocation and budgeting.
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Level 2 Behaviors
(Light Experience)
Gathers data from financial statements to help create budget plans and improve budgeting strategies.
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Level 3 Behaviors
(Moderate Experience)
Implements strategic operational efficiencies and techniques for conducting successful budgeting.
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Level 4 Behaviors
(Extensive Experience)
Evaluates past decisions on budgetary considerations to improve the budgeting process.
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Level 5 Behaviors
(Mastery)
Develops financial models to support the strategic improvement of our budgeting processes.
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2 Core Competencies – Planning and Organizing
Proficiency Level -4
Skill definition-Managing and prioritizing resources and workloads by creating well-organized plans to attain organizational goals and objectives.
Level 1 Behaviors
(General Familiarity)
Compiles a list of all the traits of effective planning to help finish the assigned tasks.
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Level 2 Behaviors
(Light Experience)
Classifies assigned tasks based on the level of importance to ensure organized workload completion.
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Level 3 Behaviors
(Moderate Experience)
Defines and translates objectives into specific plans to ensure understanding of organizational goals.
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Level 4 Behaviors
(Extensive Experience)
Delivers training sessions to foster and maximize solid planning and organization capabilities.
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Level 5 Behaviors
(Mastery)
Champions the adoption of business intelligence systems to achieve planning and organization goals.
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3 Compensation and Benefits Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Compensation and Benefits Manager
Proficiency Level - 4
5 Competency for - Compensation and Benefits Manager
Proficiency Level - 5

Summary of Compensation and Benefits Manager skills and competencies

There are 0 hard skills for Compensation and Benefits Manager.
9 general skills for Compensation and Benefits Manager, Benefit Programs, Compensation Management, Diversity and Inclusion, etc.
13 soft skills for Compensation and Benefits Manager, Budgeting, Planning and Organizing, Project Management, etc.
While the list totals 22 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Compensation and Benefits Manager, he or she needs to be skilled in Budgeting, be skilled in Planning and Organizing, and be skilled in Project Management.

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