What does a Benefits Manager do?
Modern employees, from Janitors to Accountants, realize that the paycheck might not be the biggest benefit. No, we’re not talking about an intrinsic love for taking the garbage out or crunching numbers. Rather, we’re referring to added perks for the employee, such as health insurance and stock options. Benefits Managers handle all of the arrangements in making these, and many other, benefits available to employees.
As a Benefits Manager, you’re a liaison between the employee, the employer, and the provider of benefits. It’s your job to hunt down lists of insurance providers, and analyze the pros and cons of each. The goal is to provide the best medical-care options to the employee with the least amount of expense to the employer.
your duties as a Benefits Manager have you scrutinizing pharmacy co-pays and life insurance premiums, you also coordinate many other employer-sponsored benefits. For example, you might cross the t’s and dot the i’s on a profit-sharing program, or lay out the terms of stock options to senior employees.
Whether you’re discussing the terms of the Family Medical Leave Act or explaining vacation benefits, discretion is key. You make sure all correspondence is confidential for the protection of the company and the employee.
In addition to handling all things pension and flexible spending, you make sure that governmental regulations are followed. In the end, this is a rewarding job that allows employers to offer perks to their employees, and gives employees extra incentives to put their best foot forward.