My employees don’t understand how much I am spending beyond their direct pay. How can I get them to see that??
The above table is one way to look at Total Compensation. The issue is to have the employees see everything that is paid to them, or on their behalf, by the Company. This can be done in numerous ways and is best tailored to your Company.
Employee compensation is the most difficult concept on the planet – because it affects everyone on the planet!! One of the main issues is communicating to the employees what is included in their package, at a level that they not only understand – but will end up having positive feelings toward the company afterwards.
Many of the areas are hard for the employee to understand, like health insurance, while many they simply don’t know about or care. Communicating the dollars and cents of total compensation is just the start.
Beyond the dollars and cents there are many other ways to boost your employees’ perception of their compensation. See “All my employees care about is more money and benefits!! I don’t have the money to give them either….” In that paper we showed what issues make up employee satisfaction. HR2M Consulting can help you put together a plan to work both sides of this issue. Are you ready to start assembling a more productive team?
People Profits is a financially focused Human Capital Strategy firm and is here to help you with a Human Capital Plan and Strategy that will deal with this issue.
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