Employees have a better appreciation of their jobs when they know how much their employer has invested in them.
Most employees think of their compensation only in terms of what appears on their paycheck. But that’s far from the total cost of employing them.
Today, health insurance and other benefits may account for a third or more of total compensation costs. If, for example, you plan to ask employees to share some of the cost of their health insurance, it will help for employees to know how much their insurance costs you.
That’s why McGrath Insurance Group now offers employee compensation statements for its clients at a low price. This Web-based service is easy to set up and is secured using 128-bit encryption (Web SSL), so that employees will see their own personal compensation statements and no one else’s.
Total employee compensation reports can benefit both employees and employers. Benefits include:
- Better tracking of total compensation costs
- Improved morale
- Improved understanding of the cost of health insurance and other benefits
To see a sample compensation statement, click here.