Tess C. Taylor, PHR, The HR Writer
In the last few years, employers have begun to see the value of reporting total compensation to their workforce. For many, this is a strong retention tool that helps employees understand how much the company is vested in their success. Total compensation statements can give employees a clearer picture of how much the company has spent on health and wellness benefits, retirement savings, educational costs, and all the other perks of employment in addition to regular salaries. This effort is an important part of corporate communications that gives employees a greater insight into their contribution to the success of the company.