Many employees do not understand the total investment their employer makes in them. These hidden costs include shared or employer-paid health, dental, and other group insurance, profit sharing contributions, workers compensation premiums, FICA matching, and unemployment taxes.
Total Compensation Statements communicate the total value of the “hidden paycheck” in a personalized and easy-to-understand format. Sharing this information with employees can result in increased goodwill, improved productivity, and better employee retention.
WorkPlace Solutions can provide Total Compensation Statements in many formats from a one-page overview to a multi-page comprehensive statement that details the value of each benefit and how that benefit impacts the employee.
Click here to see an example of a Total Compensation Statement.