Smallbiz Brainiac

Total compensation statements show employees how much you’re actually investing in them. Today I want to talk to you about your employees total compensation. No, total compensation is not simply the employees annual salary. It is more than that. It refers to the total cost of employing an individual. Why is this important? I believe this to be important on two levels. It’s important for employers to have an idea of just how much it costs to employ someone. This may help you make more informed hiring and firing decisions. It’s also important that the employee understands that their compensation is more than just what their paycheck shows every payday. http://www.payscale.com/compensation-today/2017/03/share-total-compensation-statements-employees (According to a study conducted by Human Resource firm PayScale), nearly 40% of all businesses prepare total compensation reports for their employees. Total Compensation:  Total compensation can be defined as the employee’s cash wage plus any no