Total Compensation Statement – Standard Format
This sample total compensation statement is:
- Easy to read
- Fully customizable
8.5″ x 11″ Double sided
About this total compensation statement:
Generic Manufacturing is a letter sized total compensation statement. A letter from leadership appears on the front once the statement is opened. This letter is designed to thank employees for their dedication to the company.
Also on the front of the statement is a pie chart and a bar chart. The pie chart compares an employee’s total pay, paid time off, health insurance, retirement match and any government mandated benefits. This helps employees visualize that total compensation includes not only the wages they receive in their paycheck, but also the additional benefits the company provides.
Underneath the pie chart, the bar chart compares the employee’s contributions to the company’s contributions to benefits. Employees may feel like they pay a lot for their benefits, but a comparison can help them understand that the employer is paying just as much as they are or more for the employees’ benefits package.
The total compensation table on the back is designed to compare employee and company contributions to each benefit. Notice the table also draws attention to the value of paid time off, even though it’s included in the employee’s base pay. Since paid time off is still considered a benefit, it is shown with the footnote “Included in Base Pay”. To make sure the table still adds up correctly, the paid time off values have been shifted over so that when adding the column down the right, employees aren’t tempted to add the total value of paid time off as well.
The benefit notes provide some information about about each of the main benefits listed to the left in the table. The notes are kept fairly short and concise, and are used to add value to the data being presented.
myBenefitStatements would be pleased to work with you to create custom total compensation statements that will help you communicate to your employees the full value of their compensation!
Contact us today for your personalized quote and samples!
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