State Human Resources. Our compensation package is a combination of salary, benefits, and other employee programs: Salary Salary base pay and other pay types Salary Schedules Employee Benefits Benefits insurance, retirement, and related benefits Vacation, Leave, and Holidays Special Programs additional benefits.
Was this information helpful? How can we improve it? This question is for testing whether or not you are a human visitor and to prevent automated spam submissions. A Total Compensation Statement is generally used upon hire, or at the end of an annual compensation process, to communicate comp details to the employee. Plus, it can serve as a reference document for the employee-manager conversation about bonus awards or merit increases.
Another type of total compensation statement is known as a total rewards statement. A Total Rewards Statement is more complex than the Total Compensation Statement, and can include benefits like k match, company benefits contribution, or tuition reimbursement. Not all companies can produce a Total Rewards Statement, as it has many inputs, and can be cost prohibitive to deliver.
As an example, provided is a total compensation statement template from within CompAnalyst, the compensation software management platform from Salary.
A total compensation statement can tell a lot about how your employees are being paid. For instance, the document can help:. Download our white paper to further understand how organizations across the country are using market data, internal analytics, and strategic communication to establish an equitable pay structure. Read More. Demo Toggle navigation. Why Us. Team Reviews News. Survey Participation Onboarding Implementation Consulting.
Some people argue that teachers are underpaid while others believe that educators make too much money. I am not going to pass judgment on that question in this post. Total pay is made up of many pieces, some cash and some non-cash.
For teachers, base pay is usually determined by a step-and-level system. They are generally calculated using federal Bureau of Labor Statistics data and the location of the organization. In schools, COLAs are often built into collective bargaining agreements.
From my experience and observations, fewer and fewer businesses are giving COLA increases, choosing instead to use the funds for performance-based bonuses or salary increases.
Common variations of this include coaching stipends, mentoring responsibilities, or working extended day or extended year programs. We are really good at supplemental pay in education! These benefits are becoming more and more costly to provide. I have found in my journeys through the nonprofit, business, and education worlds that many people do not know or understand what makes up their total compensation.
So, here are three suggestions to help talent managers and HR folks get everyone on the same page:. Some districts, colleges, businesses, and government organizations include this on their website.
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