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Here's a definition for benefit statements
Benefit Statement, n. - A document showing an employee's total compensation, including all cash income and the value of all benefits; syn. - total compensation statement; hidden paycheck; employee benefit statement.
How do you use a total compensation and employee benefit statement?
What is myBenefitStatements all about?We develop communication tools to help you show your employees the full value of their benefits and cash compensation. We produce high quality, personalized total compensation and employee benefit statements for hundreds of employers and thousands of employees each and every year. myBenefitStatements is all about creating employee benefit statements that are:
- Customized - using your logo, colors and images
- Personalized - for each individual employee
- Attractive - designs that draw your employees' eyes and attention to their statement - making them want to read it
- Easy to understand - clear, concise and easy to follow format
- Valuable - charts, graphs and images focus your employees' attention on key company strengths and clarify comparisons
- Accurate - working with you to provide an accurate presentation of each employee's total compensation package
- Timely - you set the target delivery date; we work together to meet it
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More information from our newsletter about benefit and total compensation statements!
401(k) vs 401(a)? 401(k) The 401(k) is today’s most popular retirement plan. Employees may contribute pretax dollars to their plan up to an IRS limit of $18,000 this year, with a Catch Up contribution of an additional $6,000 if the employee will be at least 50 years old by December 31st. The employee may contribute […]
Tips For Inspiring Employees Any CEO knows that inspired employees are motivated employees. Those are the employees who will continue to work happy, hard, and be highly productive. So how exactly do you inspire your employees? Here are some great examples of how to keep your employees and your company successful. Be the good example. […]
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, […]
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 […]
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 […]
What Our Clients Have to Say!
“Once again, I’m impressed with the great customer service of your company! Also, I appreciate the effort that goes into making sure all the receipts and documentation will [withstand] IRS scrutiny. Thanks!”
Participant manufacturing company
“Professional, knowledgeable staff, willing to do whatever we needed. I appreciate their cooperation and speedy responses… It was a lot easier than I thought it would be.”
Administrative Services Director, healthcare facility in Pennsylvania
“I like the statement; it provided a clear understanding of my total compensation. It’s the most valuable information I have ever received from the company.”
“Our benefit statements specialist is responsive, timely, follows up when necessary and very professional. I am pleased with his service.”
HR Generalist, Los Angeles, CA
“Based on internal feedback, providing benefit statements was indeed a strategic decision and will certainly help all level of employees put current compensation in a more enlightened perspective.”
Director of HR in Washington, DC