Updated April 25, 2024
7 min read
A benefits manager is primarily in charge of overseeing and handling a company's benefits programs and projects for employees. Their responsibilities revolve around coordinating with human resources to gather accurate data, improve existing benefits programs, and creating new ones in adherence to the company's policies and regulations. A benefits manager may also liaise with external agencies, develop activities for employee welfare, and resolve any issues regarding the benefits programs. Furthermore, they may perform clerical tasks such as producing progress reports and presentations, manage budgets, and maintain records of all transactions.
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Benefits manager responsibilities
Benefits managers play a crucial role in managing employee benefits programs. They perform audits and reconcile accounts for various benefits like medical, dental, vision, and retirement plans. They also streamline internal controls and ensure compliance with local, state, and federal regulations. In addition, they lead special projects to improve benefits plans and keep the company competitive. As Jane Smith, a benefits manager at XYZ Corporation, says, "A benefits manager must stay up-to-date with changes in laws and regulations, and ensure that the company's benefits plans are compliant and competitive."
Here are examples of responsibilities from real benefits manager resumes:
- Lead a successful transition of payroll, time and labor, benefits and general ledger to PeopleSoft.
- Collaborate with ADP to ensure system readiness and manage benefit communications.
- Lead departmental PeopleSoft projects and initiatives; involve in systems testing when additional system upgrades are implemented.
- Coordinate annual open enrollment, update benefits within HRIS, reconcile monthly statements and approve premium statements for payment.
- Insure HIPPA compliance as it relates to payroll and human resources.
- Create monthly charge back reports for FSA and all other benefits for finance.
- Comply with HIPPA regulations in order to keep client health information secure from security breaches.
- Implement and design new health and welfare plans including FSA, legal, and voluntary products.
- Create process to comply with new ERISA timeliness standards to ensure timely review of claims and appeals.
- Work closely with attorneys, actuaries, and benefit plan providers (ERISA and 401k retirement plans).
- Own continuous monitoring of all variable hour associates to accurately provide benefits to those deem eligible under the ACA.
- Participate in DOL audit from start to finish including gathering appropriate records and reviewing the findings of the DOL.
- Serve as member of fiduciary committee to employee plans and signing manager for governmental reporting to DOL, IRS and PBGC.
- Develop policies and procedures for monitoring and administering the FMLA benefits.
- Streamline and reduce internal controls on benefits eligibility for ACA compliance.
Benefits manager skills and personality traits
We calculated that 10% of Benefits Managers are proficient in HR, Customer Service, and HRIS. They’re also known for soft skills such as Leadership skills, Analytical skills, and Business skills.
We break down the percentage of Benefits Managers that have these skills listed on their resume here:
- HR, 10%
Communicated actively and effectively with Information Technology, Accounting, HR and Audit to review cross-departmental impacts and reconciled data sharing.
- Customer Service, 7%
Review Customer Service Guidelines in order to prioritize work on daily basis meeting regulatory-related, sensitive, and changing time-lines.
- HRIS, 6%
Catalyzed cross-departmental communication by facilitating technical discussions among HRIS, payroll, and vendors while gathering requirements and reporting across departments.
- HIPAA, 5%
Maintained strict confidentiality of sensitive information regarding employee relations, including grievance proceedings and HIPAA regulations.
- Life Insurance, 5%
Managed daily administrative duties including medical premium payments, appeals, exempt employee life insurance claims certification and problem resolution.
- Open Enrollment, 5%
Coordinated all annual benefit open enrollment activities including analyzing benefit plan options, training employees and processing all open enrollment material.
Common skills that a benefits manager uses to do their job include "hr," "customer service," and "hris." You can find details on the most important benefits manager responsibilities below.
Leadership skills. The most essential soft skill for a benefits manager to carry out their responsibilities is leadership skills. This skill is important for the role because "compensation and benefits managers coordinate the activities of their staff and administer compensation and benefits programs, ensuring that the work is completed accurately and on schedule." Additionally, a benefits manager resume shows how their duties depend on leadership skills: "prepare and analyze financial data related to benefit program operations and provide suggestions and recommendations to hr leadership regarding improvements. "
Analytical skills. Another soft skill that's essential for fulfilling benefits manager duties is analytical skills. The role rewards competence in this skill because "compensation and benefits managers analyze data on wages and salaries and the cost of benefits, and they assess and devise programs that best fit an organization and its employees." According to a benefits manager resume, here's how benefits managers can utilize analytical skills in their job responsibilities: "led the analysis of the impacts of the aca and created the strategy in response to the new regulations. "
Business skills. This is an important skill for benefits managers to perform their duties. For an example of how benefits manager responsibilities depend on this skill, consider that "these managers oversee a budget, build a case for their recommendations, and understand how compensation and benefits plans affect an organization’s finances." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a benefits manager: "implemented business and system processes to comply with aca requirements. ".
Communication skills. For certain benefits manager responsibilities to be completed, the job requires competence in "communication skills." The day-to-day duties of a benefits manager rely on this skill, as "compensation and benefits managers direct staff, give presentations, and work with colleagues." For example, this snippet was taken directly from a resume about how this skill applies to what benefits managers do: "developed analysis and strategic timeline for affordable care act (aca) compliance, including all filings and communications. "
See the full list of benefits manager skills
The three companies that hire the most benefits managers are:
- Salesforce17 benefits managers jobs
- Accenture15 benefits managers jobs
- Pediatric Partners, now a member of the Sevita family11 benefits managers jobs
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Benefits manager vs. Plan administrator
A plan administrator's duties depend on their line of work or place of employment. Still, they typically include understanding the client or the project's needs, developing plans, performing research and analysis, liaising with internal and external parties, setting goals, establishing guidelines and timelines, and developing strategies to optimize procedures. They must also respond to issues and concerns, resolving them efficiently. Moreover, as a plan administrator, it is essential to monitor the daily operations and manage staff, all while implementing the company's policies and regulations.
The annual salary of plan administrators is $4,371 higher than the average salary of benefits managers.Even though benefits managers and plan administrators are distinct careers, a few of the skills required for both jobs are similar. For example, both careers require hr, hris, and life insurance in the day-to-day roles and responsibilities.
While similarities exist, there are also some differences between benefits managers and plan administrator. For instance, benefits manager responsibilities require skills such as "customer service," "hipaa," "long-term disability," and "benefits administration." Whereas a plan administrator is skilled in "payroll," "plan administration," "database," and "excellent organizational." This is part of what separates the two careers.
Plan administrators tend to make the most money working in the manufacturing industry, where they earn an average salary of $81,211. In contrast, benefits managers make the biggest average salary, $71,971, in the technology industry.The education levels that plan administrators earn slightly differ from benefits managers. In particular, plan administrators are 1.3% less likely to graduate with a Master's Degree than a benefits manager. Additionally, they're 0.1% less likely to earn a Doctoral Degree.
Learn more about benefits managers vs plan administrators.
Benefits manager vs. Compensation director
A compensation director spearheads and oversees an organization or company's compensation programs, ensuring they adhere to state and federal standards. They primarily set objectives and guidelines among their staff, delegate responsibilities, facilitate research and assessments, and develop strategies to optimize compensation operations. They also lead the development of employee benefits, including salary structures, retirement plans, and insurance policies. Additionally, as a director, it is essential to empower staff to reach goals while implementing the company's policies and regulations.
A career as a compensation director brings a higher average salary when compared to the average annual salary of a benefits manager. In fact, compensation directors salary is $53,421 higher than the salary of benefits managers per year.While the salary may differ for these jobs, they share a few skills needed to perform their duties. Based on resume data, both benefits managers and compensation directors have skills such as "hris," "hipaa," and "life insurance. "
Each career also uses different skills, according to real benefits manager resumes. While benefits manager responsibilities can utilize skills like "hr," "customer service," "open enrollment," and "long-term disability," compensation directors use skills like "human resources," "healthcare," "base pay," and "compensation strategy."
Compensation directors earn a higher average salary than benefits managers. But compensation directors earn the highest pay in the professional industry, with an average salary of $111,148. Additionally, benefits managers earn the highest salaries in the technology with average pay of $71,971 annually.In general, compensation directors achieve higher levels of education than benefits managers. They're 8.9% more likely to obtain a Master's Degree while being 0.1% more likely to earn a Doctoral Degree.
Learn more about benefits managers vs compensation directors.
Benefits manager vs. Senior human resources consultant
A senior human resources consultant specializes in recommending solutions to optimize a company's human resource operations. Their responsibilities typically revolve around performing research and analysis to identify the strengths and weaknesses of existing procedures, devising strategies to attain the best employment practices, and developing programs for the benefit of employees. They may also implement the company's policies and regulations, creating new ones as needed. Furthermore, as a senior human resources consultant, it is essential to lead and encourage junior consultants and managers to accomplish goals in adherence to the vision and mission of the company.
An average senior human resources consultant eans a higher salary compared to the average salary of benefits managers. The difference in salaries amounts to senior human resources consultants earning a $17,067 higher average salary than benefits managers.Using the responsibilities included on benefits managers and senior human resources consultants resumes, we found that both professions have similar skill requirements, such as "hris," "open enrollment," and "cobra.rdquo;
The required skills of the two careers differ considerably. For example, benefits managers are more likely to have skills like "hr," "customer service," "hipaa," and "life insurance." But a senior human resources consultant is more likely to have skills like "healthcare," "employee engagement," "workforce planning," and "payroll."
Senior human resources consultants make a very good living in the technology industry with an average annual salary of $86,984. On the other hand, benefits managers are paid the highest salary in the technology industry, with average annual pay of $71,971.When it comes to education, senior human resources consultants tend to earn higher degree levels compared to benefits managers. In fact, they're 9.8% more likely to earn a Master's Degree, and 0.8% more likely to graduate with a Doctoral Degree.
Learn more about benefits managers vs senior human resources consultants.
Benefits manager vs. Human resources consultant
A human resources consultant is responsible for supporting the human resources management of an organization by advising on policies and procedures for effective employee relations. Human resources consultants analyze HR programs and current processes and initiate projects to maintain stable operations. They also facilitate strategic plans to resolve HR matters and improve culture management. A human resources consultant must be highly-knowledgeable of the human resources industry, its techniques, regulations, and disciplines to help with the implementation of business advancements and achieve the organization's objectives.
Human resources consultants tend to earn a higher pay than benefits managers by an average of $7,818 per year.While their salaries may vary, benefits managers and human resources consultants both use similar skills to perform their duties. Resumes from both professions include skills like "customer service," "hris," and "open enrollment. "Each job also requires different skills to carry out their responsibilities. A benefits manager uses "hr," "hipaa," "life insurance," and "erisa." Human resources consultants are more likely to have duties that require skills in "performance management," "workforce planning," "employee engagement," and "payroll. "human resources consultants enjoy the best pay in the manufacturing industry, with an average salary of $78,879. For comparison, benefits managers earn the highest salary in the technology industry.The average resume of human resources consultants showed that they earn higher levels of education compared to benefits managers. So much so that theyacirc;euro;trade;re 8.3% more likely to earn a Master's Degree and more likely to earn a Doctoral Degree by 0.6%.
Learn more about benefits managers vs human resources consultants.
Types of benefits manager
Updated April 25, 2024
Zippia Team
Editorial Staff
The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.
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Updated April 25, 2024
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