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)
Explains the importance and advantages of benefits program.
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Level 2 Behaviors
(Light Experience)
Participates in design and development of competitive benefit program.
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Level 3 Behaviors
(Moderate Experience)
Leads discussion on the cost constraints in offering benefits to employees.
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Level 4 Behaviors
(Extensive Experience)
Monitors benefit programs cost and recommends appropriate actions to mitigate cost.
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Level 5 Behaviors
(Mastery)
Develops HRIS to assist the analysis, evaluation and reporting 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)
Explains the importance of compensation management in retaining and alluring our employees.
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Level 2 Behaviors
(Light Experience)
Identifies and collects employee feedback on specific issues related to compensation and benefits.
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Level 3 Behaviors
(Moderate Experience)
Performs statistical analyses to support the implementation and management of compensation programs.
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Level 4 Behaviors
(Extensive Experience)
Manages our compensation program to assure an appropriate approach is established for compensation claims.
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Level 5 Behaviors
(Mastery)
Develops and maintains a framework for market-based salary ranges and compensation plan structure.
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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 different purposes and uses of our organization's budgets.
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Level 2 Behaviors
(Light Experience)
Produces budget reports showing planned vs. actual variances highlighted and explained.
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Level 3 Behaviors
(Moderate Experience)
Reviews and helps approve major budget adjustments to negotiate and reconcile line variances.
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Level 4 Behaviors
(Extensive Experience)
Monitors budgeting processes to ensure adherence to our organization's financial practices and standards.
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Level 5 Behaviors
(Mastery)
Establishes operating procedures to guide the consistency and repeatability of our budgeting processes.
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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)
Documents best practices in planning and organizing work to address important tasks.
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Level 2 Behaviors
(Light Experience)
Discusses the positive and negative outcomes of planning and organization in the workplace.
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Level 3 Behaviors
(Moderate Experience)
Helps set up new practices to anticipate and address the needs of planning and organization initiatives.
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Level 4 Behaviors
(Extensive Experience)
Facilitates the adoption of advanced tools to streamline the process of planning and organization.
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Level 5 Behaviors
(Mastery)
Develops best practices in planning and organizing activities to improve organizational efficiency.
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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.