Here’s the classic definition of a 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?
Benefit Statements, also called total compensation or total reward statements are provided to employees to show them a true picture of the costs and value associated with their benefits. The total compensation staents statements are sometimes referred as “Hidden Paychecks” as employees often do not or have never seen the costs employers pay for benefits.
Total Compensation and benefit statements can be designed to meet the needs of the employer and the employees that will receive the documents. Click here to see a sampling of the statement options available.
myBenefitStatements is happy to design a total compensation or benefit statement for your employees!
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