The Value of Employee Wage & Benefit Statements

It’s that time of year again when companies begin thinking
about providing employees with an easy-to-read document
that shows the total value of compensation and benefits
for the prior calendar year.

Typically referred to as an Employee Wage & Benefit
Statement, this document identifies the “hidden value” of
benefits that a company provides to an employee beyond the
paycheck.

HR POINTER: Human nature being what it is, most of us have
a tendency to take for granted and underestimate the
things we don’t see – company-provided benefits is a prime
example of this.

Very few employees actually realize the cost that a
company incurs for vacation days, health insurance,
matching FICA, workers compensation, etc.

Over the years, we have seen dozens of formats for Wage &
Benefit Statements. Most of those formats exhibit the
following 2 major flaws:

1. The documents were complicated forms containing
multiple pages of graphs, charts, numbers, and paragraphs
of information.

2. The documents failed to summarize the value of benefits
in simple dollars and cents terms that the average
employee could easily understand.

As such, we have created our own high impact, one-page
Employee Wage & Benefit Statement that is clear, concise,
and reader-friendly.

If you would like to see a PDF sample of our unique
Employee Wage & Benefit Statement, simply contact the
Member-Partner in your area or our corporate office.

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