SO…WHAT’S AN EMPLOYEE BENEFIT STATEMENT? Sometimes referred to as total compensation statements, hidden paycheck statements, or total rewards statements, an employee benefit statement is a communication piece that shows each employee the total value of their compensation package.
An effective benefit statement should be simple, clear, dynamic, and personalized for each employee. It should tell a story, rather than appearing like a dry, detailed financial statement.
And the best part – it’s inexpensive. In fact, an average project costs less than half a penny per dollar spent on benefits. Plus, if the project prevents just one employee from leaving, the project has already paid for itself. For literally “pennies on the dollar” you can have a significant influence on employee turnover.
To find out more about how our benefit statement services can help your organization’s retention, give us a call today and remember…
- Employee turnover is expensive
- Employee benefits are expensive
- Benefit statements are not