WHAT IS AN payroll & benefits manager jobs
A payroll and benefits manager is a professional who is responsible for overseeing and managing all aspects of an organization's payroll and employee benefits programs. This role requires a strong understanding of payroll processing, benefits administration, and compliance with relevant laws and regulations. The payroll and benefits manager ensures that employees are paid accurately and on time, and that they receive the appropriate benefits and deductions. They also handle any issues or inquiries related to payroll and benefits, and work closely with other departments such as HR and finance.
WHAT USUALLY DO IN THIS POSITION
In this position, a payroll and benefits manager typically performs a variety of tasks to ensure the smooth and efficient operation of the payroll and benefits functions within an organization. Some of the common responsibilities include:
1. Payroll Processing: The payroll and benefits manager is responsible for processing and distributing payroll for all employees. This involves calculating wages, salaries, overtime, and deductions, and ensuring that all payments are accurate and made on time.
2. Benefits Administration: They oversee the administration of employee benefits programs, such as health insurance, retirement plans, and paid time off. This includes enrolling new employees, managing changes and updates, and answering employee questions related to benefits.
3. Compliance: The payroll and benefits manager ensures compliance with federal, state, and local laws and regulations regarding payroll and benefits. They stay up-to-date with any changes in legislation and make sure that the organization is in compliance with all requirements.
4. Record-Keeping: They maintain accurate and up-to-date records of employee payroll and benefits information. This includes keeping track of employee hours, earnings, and deductions, as well as maintaining files related to benefits enrollment and changes.
5. Reporting and Analysis: The payroll and benefits manager prepares various reports related to payroll and benefits, such as payroll summaries, tax reports, and benefits utilization reports. They also analyze data to identify trends or areas for improvement in payroll and benefits processes.
TOP 5 SKILLS FOR POSITION
To excel in a payroll and benefits manager role, there are several key skills and qualities that are essential. These include:
1. Strong Analytical Skills: Payroll and benefits managers need to have strong analytical skills to accurately calculate wages, deductions, and benefits contributions. They must be able to analyze data and identify any discrepancies or errors.
2. Attention to Detail: This role requires a high level of attention to detail to ensure that payroll and benefits information is accurate and up-to-date. They must carefully review payroll calculations, benefits enrollment forms, and other related documents.
3. Knowledge of Payroll Systems and Software: Proficiency in using payroll systems and software is crucial for a payroll and benefits manager. They should have a good understanding of how to navigate and utilize these systems effectively to process payroll and manage benefits.
4. Communication and Interpersonal Skills: Payroll and benefits managers often interact with employees, HR personnel, and finance departments. They need excellent communication and interpersonal skills to effectively address any payroll or benefits inquiries or issues.
5. Compliance and Legal Knowledge: Staying updated with the latest laws and regulations related to payroll and benefits is essential. A payroll and benefits manager should have a solid understanding of employment laws, tax regulations, and benefits compliance to ensure that the organization remains in compliance.
HOW TO BECOME THIS TYPE OF SPECIALIST
To become a payroll and benefits manager, there are several steps you can take:
1. Education: A bachelor's degree in accounting, finance, or a related field is often required for this position. Some employers may also prefer candidates who have completed coursework in payroll or benefits administration.
2. Gain Experience: Entry-level positions in payroll or HR can provide valuable experience and knowledge in payroll and benefits administration. Consider starting in an assistant role and gradually working your way up to a managerial position.
3. Obtain Certification: Earning a certification in payroll or benefits administration can demonstrate your expertise and enhance your career prospects. The American Payroll Association (APA) offers the Certified Payroll Professional (CPP) certification, which is highly regarded in the industry.
4. Develop Skills: Continuously develop your skills in areas such as payroll processing, benefits administration, and compliance. Stay updated with changes in laws and regulations and seek opportunities for professional development and training.
5. Network: Building a strong professional network can be beneficial in finding job opportunities and staying connected with industry trends. Attend industry conferences, join professional associations, and connect with others in the field to expand your network.
AVERAGE SALARY
The average salary for a payroll and benefits manager can vary depending on factors such as location, industry, and years of experience. According to the Bureau of Labor Statistics, the median annual wage for compensation and benefits managers, which includes payroll and benefits managers, was $122,270 as of May 2020. However, it is important to note that salaries can range significantly, with some professionals earning less than $70,000 per year and others earning over $180,000 per year.
ROLES AND TYPES
Payroll and benefits managers can work in various industries and organizations of different sizes. Some common roles and types of positions in this field include:
1. Corporate Payroll Manager: This role typically involves overseeing the payroll function for a large corporation. The manager is responsible for ensuring accurate and timely payroll processing for all employees across multiple locations.
2. Benefits Administrator: In this role, the focus is primarily on managing employee benefits programs. The administrator handles benefits enrollment, communicates with employees about their benefits options, and ensures compliance with relevant regulations.
3. Payroll Specialist: A payroll specialist is responsible for processing payroll, calculating wages and deductions, and maintaining accurate payroll records. They may work within an HR department or as part of a payroll outsourcing company.
4. Human Resources Manager: In some organizations, the payroll and benefits function falls under the responsibilities of the HR manager. They oversee not only payroll and benefits but also other HR functions such as recruitment, employee relations, and performance management.
LOCATIONS WITH THE MOST POPULAR JOBS IN USA
Payroll and benefits manager positions can be found throughout the United States, but there are certain locations that have a higher concentration of job opportunities. Some of the cities with the most popular jobs in this field include:
1. New York, NY: As a major financial hub, New York City offers numerous job opportunities for payroll and benefits managers, particularly in industries such as finance, banking, and professional services.
2. Los Angeles, CA: With a large and diverse economy, Los Angeles is home to many companies that require skilled payroll and benefits managers. Industries such as entertainment, technology, and healthcare often have a high demand for professionals in this field.
3. Chicago, IL: Chicago is another city with a strong job market for payroll and benefits managers. The city's diverse economy, which includes sectors such as manufacturing, finance, and transportation, provides ample opportunities in this field.
4. Houston, TX: Known for its thriving energy industry, Houston offers job prospects for payroll and benefits managers, particularly in oil and gas companies. Other industries such as healthcare and technology also contribute to the demand for professionals in this role.
5. Atlanta, GA: Atlanta has a growing job market for payroll and benefits managers, with opportunities in industries such as logistics, telecommunications, and professional services. The city's favorable business environment attracts companies in need of skilled payroll and benefits professionals.
WHAT ARE THE TYPICAL TOOLS
Payroll and benefits managers utilize various tools and software to perform their job duties efficiently. Some of the typical tools used in this role include:
1. Payroll Software: Payroll processing software is essential for calculating wages, deductions, and taxes accurately. Popular payroll software options include ADP, Paychex, and Gusto.
2. Benefits Administration Software: To manage employee benefits programs, payroll and benefits managers often use benefits administration software. These tools help automate benefits enrollment, track employee usage, and generate reports. Examples include Zenefits, BambooHR, and Paycor.
3. Time and Attendance Systems: Time and attendance systems help track employee hours, absences, and overtime. These systems integrate with payroll software to ensure accurate and efficient payroll processing. Some popular time and attendance systems include Kronos, TSheets, and Deputy.
4. Compliance and Legal Resources: Payroll and benefits managers rely on resources such as government websites, industry publications, and legal databases to stay updated with the latest laws and regulations related to payroll and benefits.
5. Spreadsheet Software: Programs like Microsoft Excel or Google Sheets are commonly used for data analysis, creating reports, and maintaining records related to payroll and benefits.
IN CONCLUSION
A payroll and benefits manager plays a crucial role in ensuring that employees are paid accurately and on time, and that they receive the benefits they are entitled to. This position requires a strong understanding of payroll processing, benefits administration, and compliance with relevant laws and regulations. By developing the necessary skills, gaining experience, and staying updated with industry trends, individuals can pursue a successful career in this field. Whether working for a large corporation or a small organization, payroll and benefits managers contribute to the smooth functioning of the payroll and benefits functions and play a vital role in supporting the overall success of an organization.