So you’ve decided to provide a total compensation or benefit statement to your employees. Now what? What do you need for a benefit statement project?
While we at Navia do our best to make the process easy, there are still a few necessary items to complete your statements. Each of these items will help us guide you to the perfect statement that fits your company needs.
Do you have a specific goal in mind for providing benefit statements to employees? Is there a new program that is coming to your benefit package you want to make employees aware of? Are you heavily recruiting and want to highlight what you offer? Would you like to increase utilization of a specific benefit amongst the staff?
Whatever your goals, we can help guide you to features in our statements that will help meet those goals. Each of our total compensation samples shows a variety of different options that can be utilized for your layout. Ask how we can mix-and-match elements to make your statement unique!
One of our goals when providing benefit statements is that each statement looks like a piece of communication from your company. That’s why we encourage you to provide a high-resolution vector of your logo, as well as any company brand guidelines. Fonts, colors, graphics, and images are all part of the overall brand your company presents. The more specific you can be, the more we can develop a design that fits you!
List of Benefits
To ensure we capture all the various items in your benefits package, we’ll need a list of items that you’d like to show on your statement. Consider if you will show only the company-paid benefits, or if you’re going to show employee-paid benefits as well. In addition, consider the timeframe of data that you plan to provide. Will you be showing historical data from the past calendar or fiscal year, or current annualized data? When calculating data for an annualized statement, there are sometimes items that we can’t predict (such as overtime or commission). There may also be items that need additional data in order to calculate.
To get you started, we’ve created a handy Benefit Checklist to help collect the various offerings that you should show!
Do you have a specific timeframe for when you’d like to deliver the statements to employees? Many employers deliver their statements immediately following the close of the calendar or fiscal year. Others like to have their statements sent out around large company events, like open enrollment.
Most of our benefit statement projects take between 10 and 13 weeks to produce from kickoff call to mail-out. If this will be your first time working with us we recommend reaching out to us 5-6 months ahead. This ensures we can kick off your project in time to meet your schedule.
What do you need for a benefit statement project? These key elements are a great place to start! Contact Navia Benefit Solutions to get a quote on your project.