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Business accounting

The Real Cost of Employee Turnover – and how to avoid it!

The Real Cost of Employee Turnover – and how to avoid it! There are a number of factors that contribute to the cost of replacing an employee. Here are just a few: Overtime – for other employees and temporary staffing Advertising – search agency fees Time – sifting through resumes, interviewing, making contacts, arranging meetings, […]

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Business accounting

The Many “Benefits” of Benefit Statements

The Many “Benefits” of Benefit Statements Whether you’re an expert or new to providing Benefit Statements, do you really know the full value that Benefit Statements provide? Benefit Statements are more than a document with dollar values capturing that “bigger picture.” Benefit Statements can be used to help employees understand more about their benefits, emphasize […]

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Business accounting

Total Compensation Statements – Best Practices for Data Submission

Total Compensation Statements – Best Practices for Data Submission A frequently asked question is, “how should I send you my data?” Here are some guidelines to assure accuracy and smooth transition. Most vendors prefer to receive your data in an Excel or CSV file. To avoid transcription errors, hand enter data only when necessary, then […]

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total compensation statements

Total compensation and why you should care

Total Compensation can be defined as all of the resources available to employees, which are used by the employer to attract, motivate and retain employees.  Emphasizing everything your organization is offering your employees is the a great way to attract, motivate and retain the best talent.  Retaining top talent can be as simple as communicating […]

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total compensation statements

What Should be Included in a Total Compensation Statement?

What Should be Included in a Total Compensation Statement? Whether you’re looking to improve your employee retention or simply trying to show the value of your benefits package, everyone needs to consider the following information when creating Total Compensation Statements. Total Compensation Statements are designed to show employees how important they are to their organization […]

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multi-generaltion group of business people

Benefits Matter: Five reasons you should provide personalized benefit statements for your employees

Benefits Matter: FIVE reasons you should provide personalized benefit statements for your employees According to the Aflac WorkForces Report, 79% of workers say they would be less likely to leave their job if they had a well-communicated benefits program. By teaming up with myBenefitStatements, employers are better able to communicate the big picture of their […]

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successful benefit statement planning

Realities of Workers Nearing Retirement Age

According to a 2013 survey by the Employee Benefit Research Institute, researchers say that the current generation reaching retirement was told that retirement would be wildly rewarding. They believed they would only have to work until age 65, retire happy and live in financial comfort. However, the reality of shortfalls in financial planning has them […]

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building where IRS regulations and rates are made

IRS Announces More Generous Retirement Contribution Limits for 2015

When building a total compensation statement or benefit statement, it’s important to include annual retirement contribution limits. Not only does it help employees understand their options, it can also serve as a reminder of available retirement plan options and changes. These days, it’s pretty rare that taxpayers get a break. But they’re getting one for […]

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Healthcare costs

Prepare employees to take control of their health and wellness by communicating

According to a recent study, 47% of employers say they probably or definitely will switch to a defined contribution type of health care plan. Although the majority of employees don’t want to take more responsibility for their medical insurance, the research shows it seems to be trending in that direction. A lot of workers are relying […]

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