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About Compensation and Benefits Managers
A Compensation manager is responsible for managing the compensation function for corporate staff departments. Firstly The compensation manager plans, develops and implements new and revised compensation programs, policies and procedures to align with the company's goals and competitive practices. Secondly, they also evaluate and assess different employment positions to determine how they should be classified and what is an appropriate salary based on that classification. Thirdly, the 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. Forthly, compensation and benefits managers are sought out for their knowledge in designing compensation and benefits plans, as well as negotiating and implementing healthcare and retirement plans. Each organization’s compensation and benefits packages must comply with statutory and regulatory requirements, such as minimum salaries and tax liabilities, and it is the compensation and benefits manager's job to make sure this is carried through.
Qualifications: Compensation and Benefits Managers
Salary : Compensation and Benefits Managers
Learning how to become a compensation and benefits manager means developing essential skills, including: A Human Resource Management curriculum, should not only equip students with the skills they need to succeed but also align with the Society for Human Resource Management (SHRM) Body of Competency and Knowledge. This can prepare students to take the SHRM certification exam. Leadership Analytical and critical thinking Technical knowledge Business acumen Communication Data analysis Decision-making Knowledge of legal policies
Salary Ranges for Hr Compensation & Benefits Managers The salaries of Hr Compensation & Benefits Managers in the US range from ,244 to 4,366 , with a median salary of ,305 . The middle 67% of Hr Compensation & Benefits Managers makes ,305, with the top 67% making 4,366.
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