When business leaders talk about their company’s most valuable resource, they will often mention “our people.” In almost every industry, a company’s employees are its lifeblood, and attracting and keeping the best, most talented people is vital.
Benefits Analysts play a crucial role in helping companies hire the best employees it can and keeping them happy once they’re on board. Benefit Analysts review and analyze employee benefits plans and policies, as well as compensation packages. They recommend the best programs for their organizations to use, ideally attractive to prospective employees as well as good for the company’s bottom line.
The job of a Benefits Analyst touches so many employees. It can be a gratifying human resources career for the right candidates.
Typical Duties and Responsibilities
- Research compensation and benefits plans and policies for an organization
- Analyze data and costs to make recommendations on plans and policies
- Evaluate employee position descriptions to determine classification and salary for each
- Ensure and maintain company compliance with state and federal laws
- Be a liaison with third-party vendors like insurance companies and investment managers
- Coordinate company wellness initiatives
- Make recommendations to human resources management
Education and Background
This position requires a bachelor’s degree in human resources management, business administration, finance, or a related field.
Skills and Proficiencies
- A clear understanding of the industry to create best employee benefits packages at the lowest cost to the company
- Strong mathematical and analytical skills
- Excellent written and verbal communication skills
- Adaptability, accountability, and confidentiality
- Highly organized
- Ability to multitask
- Proficient using Microsoft Office Suite
According to Payscale the median annual salary of an HR Benefits Analyst with
1 Year of Experience:
- Orlando, Florida: $47,000
- Tampa, Florida: $55,000
- Jacksonville, Florida: $46,000
- Miami, Florida: $53,000
- Atlanta, Georgia: $62,000
- Chicago, Illinois: $68,000
- Houston, Texas: $62,000
- Los Angeles, California: $66,000
- New York City, New York: $71,000
- Seattle, Washington: $65,000
- Overall: $60,000
5 Years of Experience:
- Orlando, Florida: $51,000
- Tampa, Florida: $65,000
- Jacksonville, Florida: $64,000
- Miami, Florida: $60,000
- Atlanta, Georgia: $70,000
- Chicago, Illinois: $79,000
- Houston, Texas: $77,000
- Los Angeles, California: $81,000
- New York City, New York: $77,000
- Seattle, Washington: $80,000
- Overall: $74,000
Similar Job Titles
The path to becoming a Benefits Analyst starts by obtaining a bachelor’s degree in human resources management, business administration, finance, or a related field. Also, earning certification as a Professional in Human Resources or a Certificate in Benefits and Compensation can further advance a career in human resources.
According to the Houston Chronicle, while some outsourcing might factor into their roles, companies will always need Benefits Analysts to create the most attractive benefits plans to attract the best talent.
According to the U.S. Bureau of Labor Statistics, employment of Benefits Analysts is projected to grow six percent through 2028, which is about average overall compared to job opportunities for all occupations.
The typical work hours for a Benefits Analyst are from 9 a.m. to 5 p.m. Monday through Friday in an office setting.
Where You Can Find Jobs
- 4 Corner Resources
- Career Builder
- Zip Recruiter
Are You Interested in Becoming a Benefits Analyst?
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