How to become Compensation and Benefits Manager in Malaysia |Afterschool.my

Compensation and Benefits Manager is a specialised HR personnel who oversees everything regarding to the compensation and benefits of employees such as wages distribution, benefits, preparing budgets and ensure everything is complied with the law.

If you are someone who has organisational skills and is good at managing people, put this career in your consideration list! Or perhaps, you are already a HR Manager but would like to specialise into a Compensation and Benefits Manager, then what are you waiting for? All you need to do is obtain a higher qualification, topping with a couple of working experience under your belt and you’re good to become one when you have proved yourself with your performance.

Pros

Clear path to getting promoted

Can work for different types of employers and industries

Perfect for people who like desk jobs

Cons

1 to 5 years of working experience is essential

May require to work overtime

Need to keep up with the latest legal aspects in employment & compensation

Create salary structures and benefit offerings

Determine the competitiveness of the wages

Distribute wages to the workers

Research your competitors’ salaries and benefits

Make recommendations to senior management on changes to salaries and benefits to better compete with competitors

If the recommendations are approved, implement the changes

Give out suitable compensations for employees

Make the compensations according to regulations

Analytical skills

With the amount of gathered data through reports, surveys and more, Compensation and Benefits Manager put them to good use by analysing them in a detailed manner. Through these information, you will know about the current trends or steps and changes that need to be made accordingly.

Technical skills

With the rise of digitalisation, the use of physical paper documentation has decreased tremendously over the years. With that said, you will be keying in all the necessary information and also working your part through computers. It is crucial to assimilate technology into your role such as creating computerised surveys and more so that your company and colleagues will be up-to-date.

Communication skills

It is essential for a Compensation and Benefits Manager to be great at communicating regardless of it being written or oral. Oftentimes, you will be having meetings or writing about the latest update on employment policy, notices and other relevant information. Hence, the way you convey the information should be clear and concise.

Human Resource Management

Finance Management

Business Administration

You would need to possess a minimum of a bachelor’s degree and sometimes you would need a master’s degree as well. A degree in Human Resource Management is highly recommended but you could also get a degree in Finance Management, Business Administration or any of the related field.

The working hours of a Compensation and Benefits Manager are regular work hours. However, there may be cases that you need to work overtime to settle a particular issue.

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