Hello Team,
I am keen to switch to a Compensation & Benefits profile from a Generalist profile. Please help me with the study material, what should I do, and how to go about it.
I have a good understanding of how payroll works, have designed pay structures, and possess fair knowledge of statutory compliances.
What are the other areas I will have to work upon? Please guide me.
Best Regards,
From Singapore, Singapore
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I am keen to switch to a Compensation & Benefits profile from a Generalist profile. Please help me with the study material, what should I do, and how to go about it.
I have a good understanding of how payroll works, have designed pay structures, and possess fair knowledge of statutory compliances.
What are the other areas I will have to work upon? Please guide me.
Best Regards,
From Singapore, Singapore
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Dear Colleague,
A Compensation and Benefits Manager role is more of an administrative as well as analytical job role in any large organization. The requirements to become a Comp & Ben Manager are listed below:
1. You should have a good understanding of HR (which you already have).
2. Salary administration and running payroll (which you already know).
3. Compliance aspects (which you already know).
4. Complete understanding of the tax laws applicable to the country you are going to operate in.
5. Complete understanding of the wages/salary-related labor laws of the country you operate in.
6. Good skills in analytics and projections, working and presenting to management on the percentage of compensation and benefits expenses compared to turnover, revenue, growth, etc.
7. Skills in benchmarking with comparable industries.
8. Data-driven skills and a grip on all data.
9. Creating dynamic structures and strategies to attract talents and advising top management.
10. Strategic partnership to make key decisions on hiring and fixing the right compensation for key talents.
Few Readings:
- [AIHR - Compensation and Benefits Manager](https://www.aihr.com/blog/compensation-and-benefits-manager/#:~:text=If%20you%20want%20to%20be,in%20finance%20 and%20statistical%20analysis)
- [Maryville University - How to Become a Compensation Benefits Manager](https://online.maryville.edu/online-bachelors-degrees/human-resource-management/careers/how-to-become-compensation-benefits-manager/)
- [Indeed - How to Become a Compensation and Benefits Manager](https://www.indeed.com/career-advice/finding-a-job/how-to-become-compensation-and-benefits-manager)
From India, Chennai
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321A Compensation and Benefits Manager role is more of an administrative as well as analytical job role in any large organization. The requirements to become a Comp & Ben Manager are listed below:
1. You should have a good understanding of HR (which you already have).
2. Salary administration and running payroll (which you already know).
3. Compliance aspects (which you already know).
4. Complete understanding of the tax laws applicable to the country you are going to operate in.
5. Complete understanding of the wages/salary-related labor laws of the country you operate in.
6. Good skills in analytics and projections, working and presenting to management on the percentage of compensation and benefits expenses compared to turnover, revenue, growth, etc.
7. Skills in benchmarking with comparable industries.
8. Data-driven skills and a grip on all data.
9. Creating dynamic structures and strategies to attract talents and advising top management.
10. Strategic partnership to make key decisions on hiring and fixing the right compensation for key talents.
Few Readings:
- [AIHR - Compensation and Benefits Manager](https://www.aihr.com/blog/compensation-and-benefits-manager/#:~:text=If%20you%20want%20to%20be,in%20finance%20 and%20statistical%20analysis)
- [Maryville University - How to Become a Compensation Benefits Manager](https://online.maryville.edu/online-bachelors-degrees/human-resource-management/careers/how-to-become-compensation-benefits-manager/)
- [Indeed - How to Become a Compensation and Benefits Manager](https://www.indeed.com/career-advice/finding-a-job/how-to-become-compensation-and-benefits-manager)
From India, Chennai
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PMS COmpensation and Benefits.doc
Certified Compensation & Benefits Manager.pdf