What We Do
As an HR professional or business owner, you understand that total compensation is more than just a paycheck; it includes a benefits package that averages 30% – 40% of an employees’ salary. But, do your employees know that?
They will if you provide them with personalized employee benefit statements from Benefits Summary. Our benefit statements provide an eye-catching presentation to each of your employees that clearly communicates the cost and value of your benefits programs. In addition to increasing staff awareness, our benefit statements help improve employee retention, which drives improvements in your bottom line.
Personalized employee benefit statements are a great tool for communicating your company’s financial investment to your employees. According to Watson Wyatt, AON and others:
- Most employees significantly underestimate the cost of their benefits programs.
- Employees who receive benefit statements have a much better understanding of their total compensation.
- Benefit programs are the 2nd largest portion of payroll expense.
- Without benefit statements, many of these costs are ‘hidden’ from the employee and therefore under-appreciated.
- Annual salary typically includes paid time off components that many employees never stop to consider are a benefit.
- Employee benefits statements have proven to increase morale.
- Employees who receive benefit statements are more likely to be happy in their positions and remain with their current employer.
Our professionally produced employee benefit statements:
- Demonstrate the company’s investment and commitment to its workforce.
- Provide education that leads to a better understanding and appreciation of your benefits program.
- Show the cost, coverage, and value of your benefits program in a format that allows it to be easily shared with a spouse and/or family members.
- Improve morale, productivity and strengthen employee relationships.
At Benefits Summary, our employee benefit statements will help make sure you get the most out of your benefits investment!