Benefits Consultant Responsibilities

Benefits consultant provides guidance to the human resource management of the organization. Every employee receives a set amount as his salary. In addition to his basic salary, he is provided certain facilities by the employer in monetary terms. These facilities account to benefits given to the employees. It includes pension, retirement plans, insurance, incentives, etc. Every organization determines the benefits to be provided to the employees based on their internal policies and the regulations set by the business regulatory authority. The benefits consultant is an expert who has thorough knowledge about the laws and procedures governing the employee benefits. Hence, he utilizes his expertise in helping the organization formulate their human resource policies. We have jotted down the main benefits consultant responsibilities here.

Responsibilities

• Update knowledge about the laws and regulations set by the human resource laws regulating authority that governs the business organizations
• Study the nature of the organization and jot down the laws and procedures applicable to the client's profile
• Compare the existing benefits laws adopted by the organization and suggest changes in view of the changed policies
• Assist the organization in reconstructing the organizational policies for employee salaries and benefits
• Calculate the benefits to be given for gratuity, retirement, incentives, compensation, allowances, etc., in addition to the basic salary
• Coordinate with the payroll accountants while preparing the salary accounts for all employees
• Explain the benefits laws to employees and resolve their queries in this regard
• Advice the organization from time to time on the benefits and tax laws

There are three major types of benefits consultants. Although they perform similar functions, the scope of work varies with the clients they serve.

• In-house Consultants - In-house consultants work for business organizations. They work under the human resource management department. They provide guidance to the organization's management in drafting employee benefiting policies. They are responsible to update the organizational policies with every change introduced in employee laws and rights. They work along with the accounting managers while finalizing the salary amount.

• External Consultants - These consultants work for advisory organizations. Business enterprises outsource their payroll functions to these organizations. They perform all the duties that any in-house consultant would perform. The difference is that these consultants are not the employees of the organization.

• Individual Consultants - These consultants are appointed by individuals with high net worth. They help these clients to calculate the benefits they are eligible for. Benefits include tax exemptions, retirement plans, gratuity, etc. They work like personal financial planner for the clients.

If you aim on working as a benefit consultant, then make sure you own the right qualifications for the job. You can complete your graduation in human resource laws, business laws or accountancy to be eligible for the job. Important skills required for this job are aptitude for law, accounting skills, communication and social skills, and strong analytical abilities. You have to begin your career on a junior level, working as a clerk or an assistant. Once you complete Master's Degree or gain 3-4 years of experience, you will get promoted to the level of advisor, consultant, or a manager. All organizations require the services of a benefits consultant. Hence, there will be no dearth of opportunities for these professionals.

Benefits consultant job responsibilities will acquaint you with the major functions performed by a benefits consultant. You will find details of the eligibility criteria required for this post. Also, this information will help you to understand the scope of this job profile: independent consultant, organization's consultant, or an individual's consultant. Hence, find all the details you need to make a career as a benefits consultant over here and plan out a successful career for yourself.