Employee Benefit Statements are absolutely vital to your organization’s communication strategy!
Benefit Statements show the full value of employee compensation. Providing your employees with Total Compensation Statements allows you to tap into the myriad ways in which you support and enrich the lives of your employees. It’s also a great way to positively affect employee perception and boost employee recruitment and retention in your organization.
In a recent survey conducted by the Hay Group, a global leader in employee opinion research, they found that employee engagement strategy is rapidly changing. New employee engagement “megatrends” mean that, “Money will no longer be the main influence on life and career decisions. Other priorities will come into play, such as fulfilment, meaning, self-development, recognition and work-life balance.” Especially with younger employees, engagement means offering personalized rewards programs and meaningful benefits to retain and attract the next generation of outstanding employees.
Employee Benefit Statements capture those rewards and open a dialogue between employers and employees, providing an access point to deeper job satisfaction and increased performance.
You already offer your employees competitive compensation and a great benefits package, however if your employees don’t understand or appreciate those benefits, your value as an employer is getting lost in the shuffle. You’re missing out on the single most compelling way to show each employee just how much they gain by working for your organization!
If you’re interested in showing the full value of your employees compensation look to your trusted third party administrator to assist you every step of the way until you’re satisified.