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Total Compensation Statements
Would you like to show your employees how much their total benefits package is worth…
in dollars and sense? McGohan Brabender can create total compensation statements
for your employees. Total Compensation statements communicate the entire value
of a benefits package in a personalized, easy to understand format. With escalating
benefit costs, it is more important than ever to have employees understand
that their paycheck is more than just a salary.
According to recent studies, on average, employers spend anywhere from 25% to 40% of payroll
on employee benefits. These same studies show that most employees have no idea what these benefits include or how much they are worth.
By combining information on personal benefit elections along with compensation data, Total Compensation Statements present the employee with a picture of his or her “total compensation package.” Each statement is based on each employee’s individual data.
Employees see that they are treated as a unique personality instead of getting
another generic memo or booklet. They feel appreciated. They see their own story.
Show employees the options you offer and the choices they have made. Use statements
as an opportunity to highlight a new program or explain an under-used older program.
Target communications based on each employee’s situation. Show employees not participating in a 401(k) plan the extra company match they could receive. Explain how the medical plan works and their share of the cost. Highlight benefits where you offer more than your competition.
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