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Total Compensation Statements as a Tool to Communicate Total Value

Learn how total compensation statements can help you communicate the true value of your company's compensation and benefits packages to employees.Often employees look at their base salary as the total value provided by your organization. Retaining employees is the number one issue of business today, and often they leave for a few cents in base pay. Creating customized compensation statements for your organization can be a valuable communication tool. Generally, total compensation ranges from 30 to 50 percent above base compensation for an organization and most employees are unaware of the benefit. This information will help you understand the value of creating total compensation statements as well as the process for information gathering, data management, and printing and production of the final statements.
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What Makes up Compensation?
  • Base Compensation
  • Bonus and Commissions
  • Government Mandated Benefits
  • Voluntary Benefits
  • Nonmonetary Benefits
Communication Vehicle
  • Branding
  • Tool for Messaging
  • Benefit Recap
  • Stock Options/Plans
  • Visually Appealing
Data Assembly
  • Options From Payroll Systems
  • Employee Demographics
  • Data From Other Areas of Organization
  • Ability to Include Items That Are Not for All Employees
  • How to Handle Paid Time off
Tools Available for Statement Creation
  • Microsoft Products
  • Internal Database
  • HRIS Programs
  • Your Benefit Broker
Considerations in Statements
  • Printing and Mailing
  • PDF's
  • Color or Black and White
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Lori Kleiman, SPHR, SHRM-SCP

Lori Kleiman, SPHR, SHRM-SCP

HR Topics

Lori Kleiman, SPHR

  • Managing director of HR Topics; firm which supports training and development of HR professionals as well as speaking at local and national conferences
  • Formally national practice leader of HRadvantage, a division of Gallagher Benefit Services
  • Founder of HR Partners, acquired by Gallagher Benefit Services
  • Member of National Speakers Association
  • Creator of HR Certificate program at Oakton Community College
  • Certified as SPHR, SHRM, SCP
  • Master's degree in human resources
  • Can be contacted at [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405112
Published 2019
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