Total Compensation Statements
How important is it that employees know the full value of their compensation? Would it dissapoint you if an employee to left employment to take a job with a $2,000 wage increase, and the employee not realizing they actually took a $5,000 total compensation cut by accepting a job with less robust benefits?
According to an Aflac study, 41% of workers surveyed agree they would be less likely to leave their jobs if they were well informed about their benefits. 66% of survey participants say they would prefer to discuss benefits options with an HR representative or benefits consultant.
Steele Benefit Services offers Total Compensation Statements on both a fee-for-service basis, and as a free value-add when offered with voluntary worksite products. Steele Benefit Services can also review the statement with employees during a voluntary insurance enrollment at the employer's request.
statistics from Aflac Workforces Report, 2011
