Total Compensation Statements

Though your benefits package may be quite substantial, your employees may not know it or may not understand some of the benefits you offer. Helping employees understand their total compensation can raise morale and may increase loyalty to your company. To assist your employees in fully comprehending their benefits package, consider providing a total compensation (benefit) statement. This communication highlights the monetary value of your benefits package, including those perks that may be overshadowed by traditional benefits, to give an overall view of your benefits package.

A typical total compensation statement may include information about the following:

  • Salary
  • Bonuses
  • Commissions
  • Stock Options
  • Stock Grants
  • Employee Stock Purchase Plan
  • Retirement Plan
  • Social Security Contributions
  • 401(k) Matching Contributions
  • Paid Time Off
  • Coverages for Health, Life and Disability
  • Wellness Rewards (Discounts, cash bonuses, etc.)

 
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