Total compensation

116169 · February 2004

Our company would like to provide employees with information on their "total compensation". We all know that there are a lot of hidden costs that employers pay for employees that if not advertised, employees would not consider as part of there compensation (taxes, medical and dental benefits etc...)

I know that there are pro's and con's to this, especially since individual employees chose different benefit packages, thus two employees in the same position, with the same length of service may have different "total compensation" because one of them covers thier family on medical benefits, and the other does not.

Anyhow, what are some things we should consider including on this report and have any of you created something simular that you'd be willing to share?

Thank you!

AJ SPHR · February 2004

We do this every year. We provide a summary of the benefit plans available. Then we customize to show specific elections for each employee (what benefits they selected and level of coverage). At the end of the report we do a summary of costs for each coverage, minus employee contributions, to give a total that the company spends for each employee. We include info on H&W and retirement plans, and any voluntary benefit programs.

I can email you a sample if provide your email address.

vic · February 2004

I would like to do that also. Please e-mail me a sample: [email]vickic@janusintl.com[/email]

116169 · March 2004

I would love to see the sample. Has this caused any employee moral issues? Do employees compare how much the employer pays towards thier total compensation with other employees?

My email is [email]kplandel@residentialresources.org[/email]

Thank you for responding, sorry it took me so long to get back to you. I was on vacation.

deniseE · March 2004

Our Agency began doing this about a year ago...in take home $$$ our ee's are probably grossly underpaid; however, factor in the benefits...we're doing OK.

Just to give you an idea of the categories, under "employer paid benefits" we have:

Medical Hospital
Medical Annuitant
Life Insurance
Retirement
Fed Med/ER
Fed OASDI/ER

and it's totaled for the paycheck and year-to-date.

This helped ee's to see how much they were getting(or would otherwise be spending) if not for the Agency contribution.

The benefits are pretty much the same across the board...so we've not had many more problems than typical salary differences...

Squishypig · March 2004

Could you please send me a sample too? (Just click on the link below)

Thank you!

Johnette
[link:www.hrhero.com/cgi-bin/employersforum/employersforum.cgi?az=email_user&userid=Squishypig|"I'm in the weeds!" E-mail me if you are in the restaurant industry too!]

lnelson · March 2004

AJ -

Could you e-mail me a copy of that,too.

Thank You.
Lisa
[email]Lisa@amberwoodproducts.com[/email]

AJ SPHR · March 2004

I've sent to both of you. For anyone else interested, I've posted a sample on the HR Documents forum in the subject titled "Total Comp Statement". Thanks.

hrnewby · January 2005

I realize your posting is about a year old, but I am new to HR and a summary of benefits is high on my list of things to do for our employees. Would you be so kind as to share your form with me? Thank you. Kandy Butterly, Lincoln Park Savings Bank [email]kandyb@lpsb.com[/email]

AJ SPHR · February 2005

I emailed it to you. I never posted it on the other forum (HR documents) because there doesn't seem to be a way to attach a document to a post, at least not that I could figure out!

HRCalico · February 2005

That explains why I searched and searched for it and came up empty! AJ, could you hit me with it, too? x:D [email]lkuehn@rpm-composites.com[/email] Thanks!

Total compensation

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