What is the Job Market Outlook for Benefits Administrators?
Job Market Outlook October 13, 2013Benefits administrators work in human resources, and it’s their job to ensure efficient recruitment, hiring and retaining of the best quality employees. This is a job that will never be made redundant, since employee turnovers cost companies’ millions of dollars per year.
A good employee is worth lots of money, since his/her skill sets help to make continuous profit. Efficient leadership in this regard will seek to keep the best employees while avoiding those who create chaos, or who bring morale down.
Why the Benefits Administrator’s Job is Set
However, company heads and managers cannot always handle this aspect. Therefore, the benefits administrator job is so invaluable. They are so adept at keeping employees motivated, informed and kept up to date that they keep the “machine” of the business running by taking good care of all its inner working parts. Market-wise, this is a great career.
The U.S. Bureau of Labor Statistics predicts a rapid rise in this profession, particularly over the next decade. The reason being, employee turnover is high, and more employees are inquiring about medical insurance, retirement, and other technicalities.
This all calls for strong leadership, your eye and logical mind, which can help to promote qualified employees, avoid hiring time and money-wasters, and helping to improve employees that need some honing. Of course, the central idea is in overseeing the big picture, as this is a managerial role.
You design programs that keep employees happy. You create a benefits program that appeals to them, all the while making sure you carry out the company’s agenda and always keep figures within the allotted budget. You may also have to arrange for other issues such as legal protection, transportation, and wellness and health.
Job Outlook
The salary for this position is at an average of $58,000 per year, although top earners can take home upwards of $86,000. How can you excel in a market that is becoming increasingly competitive even while growing?
Naturally, by pursuing higher education and demonstrating a skill set worth investing in. A bachelor’s degree is required, but a master’s degree is certainly preferred if at all possible.
A study in business administration would be a good starting point for building a strong career. This will show employers that you are familiar with standard business practices, payroll and industry-appropriate benefits.
However, interpersonal skills are just as important to this field since you will be working with people and going office to office, forming relationships, getting information and reporting back to a number of executives about your findings.
The more you take the initiative to learn about what benefits are most important, what are terminable, and what employees value the most, the more leverage you will have when interviewing for a position.
You can get the education you need from a school like University of Maryland College Park, University of Texas – Austin, Penn State University, or any school that offers an accredited course on business management. It’s time to make your love of people pay off by helping companies and helping workers come together to form a winning team.
