by Rich Williams
On average, 30% to 40% of an employee’s total compensation is wrapped up in benefits. Unfortunately, that information is often invisible to employees, so they may not fully appreciate or understand just how much your company “pays” them beyond a salary.
This becomes crystal clear during open enrollment, when so many employees simply stick with the benefits they had last year because they don’t know what they’re missing. But you shouldn’t wait for open enrollment.
Explain benefits in person
The most effective way to make sure employees really know about the benefits you offer, their value and why they’re a great deal is to tell them face-to-face.
An in-person benefits counseling session gives you the opportunity to bring to the attention of each employee the value of benefits like parking, the company wellness center, subsidized snacks and other perks that employees might not realize you already pay for.
It’s...(register to read more)
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- Former employees to collect overdue profit-sharing funds
- Designing a Progressive Discipline Policy
- How to ward off some class-action pay-bias suits: Grant managers limited discretion to set pay
- Health care costs growing slower than expected