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How to Communicate Total Compensation to Employees

BackStitch

Total rewards statements offer a simple but understandable method of conveying all compensation information. Learn More: Request Total Rewards Statement Samples. Beyond just knowing the amount they’re being paid, employees want to know the reasoning behind their salaries.

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A Primer on Pay Transparency in 2023

Astron Solutions

In response to this growing trend, lawmakers in a variety of states and jurisdictions have developed regulations that require employers to disclose pay information. Provide employees with a salary range upon request, when changing jobs or upon hire. You also can contact us to learn more about our Flare® Total Rewards Statement module.

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Compensation Programs and the Great Resignation

Astron Solutions

Recognizing this, employers need to focus on a total rewards strategy when deciding to use variable compensation to reward employees. Why not request more information today? Employees that have access to a total reward statement have a transparent view of their overall package and thus will be motivated to stay.

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Why You Should Share Total Compensation Statements With Your Employees

Compensation Today

When it’s time for their managers to communicate pay changes with employees, I am always faced with questions around how should we communicate this change in an employee comp statement. What Is a Total Compensation Statement? Timing is also very important when it comes to sharing total comp statements with employees.

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Pay Transparency in New York

Astron Solutions

To further this trend, lawmakers have stepped in to develop regulations that require employers to disclose pay information. According to a SHRM March 2023 survey , there are advantages to sharing pay information. When will we share compensation information? What will remain confidential?

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An end-of-year checkup: 8 tips for 401(k) plan sponsors

Guideline

Audit employee 401(k) information Use this time to review your employee information, including information gaps or changes. A participant can also request a statement be provided at any time, but no more than once per 12 month period.   The SAR is due 9 months after the end of the plan year.

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WorldatWork Joins the National Debate on Pay Equity -- How About You?

Compensation Cafe

On March 7, 2017, WorldatWork published a position statement on pay equity. In other words, the position statement has been created to influence the way we act professionally and to ". outline the role that compensation and rewards professionals have in reducing and eliminating pay equities in the U.S. workforce."