Value Compensation

July 16, 2008

• 51% of the U.S. full-time workforce believe their employer pays 30% or less for employee benefits such as health, life and disability insurance, and retirement benefits and paid time off;
• In contrast, employers actually pay 43% over and above wages and salary for employee benefits;
• 75% of employees who say they are "very satisfied" with their total compensation have at least "quite a bit" of understanding of their benefits package;
• Only 19% of employees "completely" understand the total value of their compensation package;
• More than 33% of employees are "very" or "somewhat" dissatisfied with the current total compensation.

• 97% of that survey's respondents said that personalized communications played a distinct role in helping employees to better understand their benefits and the value of their total compensation packages;
• % felt that total compensation statements in particular were important in communicating value to employees;
• However, 55% of respondents do not use total compensation statements as part of employee communications; and
• 93% of HR and benefits executives said that personalized communications were a valuable tool in recruiting and retaining employees.