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Show Your Employees Just How Much They Are Paid

american dollars in the handsEmployees can take benefits for granted at a full-time job, because they feel entitled to them. That attitude may not be their fault. It can help your employees learn to value their entire compensation package by spelling out to them just how much they are receiving.

Studies have been done that show the level of employees valuing their benefits has to do solely with perception. In the case of companies that had just “average” health care benefit offerings, researchers found that in 70 percent of the cases, employees had very favorable opinions about those benefits when their employers were good about communicating the details about the plans.

Does your health plan provide preventative care such as flu or pneumonia shots, or give discounts for employees who keep fit? Make sure you let your employees know, and remind them to take advantage of that. So it is not the actual monetary value of the medical coverage you offer, but the understanding of it that employees value. In order to ensure your employees are satisfied, you have to do a great job of communicating those benefits. If you do not promote it, they won’t be appreciative of the offering.

Another way to make this stand out clearly is to issue total compensation packages to all your full-time workers. This is a document that outlines all of the extras provided to each full-time worker, including things such as retirement benefits, 401(k) matching funds, government benefits like Social Security, workers’ compensation, disability, and time off benefits such as vacation and sick days. Benefits can also include tuition reimbursement, parking or gym membership. When all these payments and policies are listed, it shows workers how much more they receive than merely a salary.