Total Compensation Package Template
The employer has both required and discretionary payments that it makes on behalf of the employee.
Total compensation package template. During a job search or when offered a new job individuals may find the employee benefits package template useful for comparing benefits plans of different companies. Use this calculator to help illustrate the total compensation package for an. Personalized total compensation statement highlighting your total compensation package. A compensation plan can be defined as a complete package of all the compensations like salaries wages benefits etc.
To hire and retain the right talent organizations need to develop a compelling total compensation package. Which have to be paid to the employee. Your employees may be surprised to find out how much is paid out in other benefits in addition to their salaries. Offer a has a base salary of 80000 in the total compensation package while offer b has a base salary of 75000 in the total compensation package.
These colorful easy to use tools work because they can show employees exactly how much theyre earning in just a few seconds. On demand statements offer a streamlined snapshot of your companys benefit package through a selection of attractive print ready templates. The sample below demonstrates just how simple and powerful compackages employee compensation statements are. What is my employee total compensation package worth.
The value of some benefits may be considered as part of your salary. The human resources team can use the benefits template to build out a total compensation statement which outlines all of the benefits and perks that employees can receive. Most people think of their hourly wage or annual salary when discussing compensation. However you are about to discover how to calculate the full value of your compensation package which includes much more than just wage or salary.
Introducing our free total compensation worksheet tool. If the job candidate only considers the base salary of the two offers then offer a wins by 5000 and in year two any raise is based on the higher base. Because your well being is important to us the benefit program is designed to furnish you with protection against financial devastation due to illness disability loss of work retirement or death. It also has the terms of payment the purposes of receiving bonuses salary increases incentives etc.
On demand total compensation statement samples. If you have any questions regarding this information please contact your hr department. Sample employee compensation statement. On demand statements are personalized total compensation statements that are designed to save you money because you print and distribute them yourself.