9 general skills or competencies (Job family competencies) for Compensation and Benefits Manager
Skill definition-Designing, managing, assessing and implementing compensation plan to attract and retain talent.
Level 1 Behaviors
(General Familiarity)
Lists the factors that should be considered in the development of the benefits objectives.
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Level 2 Behaviors
(Light Experience)
Performs employees' needs assessment to support the selection and of benefit program.
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Level 3 Behaviors
(Moderate Experience)
Recommends improvements to the overall benefits program.
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Level 4 Behaviors
(Extensive Experience)
Monitors overall benefits benchmarking activities to assess current programs and policies.
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Level 5 Behaviors
(Mastery)
Establishes a periodic evaluation process to assess effectiveness of benefits.
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Skill definition-Managing and determining the salary, bonuses, and benefits to ensure competitive and appropriate compensation for employees.
Level 1 Behaviors
(General Familiarity)
Lists the best practices for managing compensation plans in our organization.
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Level 2 Behaviors
(Light Experience)
Prepares reports and statistical information to identify potential issues in compensation management.
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Level 3 Behaviors
(Moderate Experience)
Utilizes data tools to manipulate data sets for incentive compensation plan design and management.
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Level 4 Behaviors
(Extensive Experience)
Oversees the implementation of new techniques to ensure continuous improvement in compensation processes.
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Level 5 Behaviors
(Mastery)
Keeps updated on all state laws and regulations that Impact compensation and benefits management.
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13 soft skills or competencies (core competencies) for Compensation and Benefits Manager
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)
Explains the importance of budget reporting and forecasting in our workplace.
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Level 2 Behaviors
(Light Experience)
Supplies supporting information and justification for major line items.
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Level 3 Behaviors
(Moderate Experience)
Utilizes software tools and applications to forecast our annual budget accurately.
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Level 4 Behaviors
(Extensive Experience)
Provides in-depth training to our entire organization about the zero based budgeting methodology.
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Level 5 Behaviors
(Mastery)
Introduces technologies, policies, and programs for more effective budget management.
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Skill definition-Managing and prioritizing resources and workloads by creating well-organized plans to attain organizational goals and objectives.
Level 1 Behaviors
(General Familiarity)
Lists commonly used tools in workplace planning and organization.
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Level 2 Behaviors
(Light Experience)
Works with specific tools in prioritizing and allocating resources to ensure task accuracy.
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Level 3 Behaviors
(Moderate Experience)
Prepares schedules to plan, organize, and complete priorities promptly.
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Level 4 Behaviors
(Extensive Experience)
Sets short- and long-term objectives to organize team workload and improve efficiency.
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Level 5 Behaviors
(Mastery)
Leads the development of new techniques and strategies to drive effective planning and organization.
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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.