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)
Identifies major types of benefits program.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Participates in design and development of competitive benefit program.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Leads discussion on the cost constraints in offering benefits to employees.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Monitors benefit programs cost and recommends appropriate actions to mitigate cost.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Develops HRIS to assist the analysis, evaluation and reporting of benefits.
See 4 More Skill Behaviors
Skill definition-Managing and determining the salary, bonuses, and benefits to ensure competitive and appropriate compensation for employees.
Level 1 Behaviors
(General Familiarity)
Identifies and describes different types of employee compensation in our workplace.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Identifies and collects employee feedback on specific issues related to compensation and benefits.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Reviews compensation data to assist management with making pay decisions and designing pay programs.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Monitors employee compensation to ensure compensations remain competitive to retain the best talent.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Establishes the guidelines and criteria for evaluating the appropriate employee compensation.
See 4 More Skill Behaviors
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.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Produces budget reports showing planned vs. actual variances highlighted and explained.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Reviews and helps approve major budget adjustments to negotiate and reconcile line variances.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Monitors budgeting processes to ensure adherence to our organization's financial practices and standards.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Forecasts asset needs to leverage available inventory and data compilation for annual budgeting.
See 4 More Skill Behaviors
Skill definition-Managing and prioritizing resources and workloads by creating well-organized plans to attain organizational goals and objectives.
Level 1 Behaviors
(General Familiarity)
Explains the importance of planning and organization in building a good working environment.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Identifies key implications of ineffective planning and organization that affects decision-making.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Leverages key performance indicators to measure progress completion against performance metrics.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Manages the planning and sequencing of activities to create well-planned schedules and achieve goals on time.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Establishes standards for planning and organization processes to align efforts with business goals.
See 4 More Skill Behaviors
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.