A benefits manager is a professional who is in charge of overseeing the administration of any benefits that a company provides to its employees. The benefits manager, also known as a benefits specialist, is frequently a member of the larger Human Resources team. In smaller businesses, the benefits manager’s job is frequently combined with other Human Resources responsibilities and handled one or two people.
The creation of the package of employee benefits offered to people who come to work for the company plays a key role in the administration of benefits. The benefits manager assists in determining the requirements that an employee must meet in order to be eligible for various benefits. Within the scope of this task, the manager must ensure that he or she follows all applicable government regulations. In addition to meeting government requirements, the benefits manager may collaborate with owners and other managers to provide additional incentives to employees.
Along with determining who is eligible for benefits, the benefits manager is also responsible for establishing those plans. This entails assessing and committing to health and life insurance plans. The benefits manager will also be responsible for establishing retirement and pension plans, as well as any profit sharing or employee stock ownership programs that the company wishes to implement. Because the benefits manager is a company officer, he or she will strive to provide the best benefits that the company’s current situation warrants.
A benefits manager’s job isn’t done once the benefit packages have been defined and activated. All types of benefits must be monitored to ensure that they are performing as expected. In addition, the benefits manager is frequently called upon to resolve issues that employees may have with one of the benefits package’s components, as well as to explain the benefits to new employees.
In order to prepare for their jobs, most benefit managers pursue some form of formal education. While a degree in Human Resources or a related field is common, an effective benefits manager may also have an accounting background or a Business Administration degree. Today, there are colleges and universities that offer degree programs and certifications in the field of benefits administration.