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Stuart Gentle Publisher at Onrec

Employers Reveal Hidden Value of Compensation and Benefits Packages with TotalCompBuilder Software

Premium compensation statements help organizations keep top performers, while improving workforce morale and productivity

Premium compensation statements help organizations keep top performers, while improving workforce morale and productivity

In an age where employees value their benefits as highly as their paycheck, communicating those benefits can be crucial to retaining top talent.

This reality is behind the introduction of TotalCompBuilder.com, the first web-based, on-demand total compensation statement software for employers. Developed by TotalRewards Software, two premiums editions are available ñ Professional and Enterprise. The two full-featured premium editions start at $600 per year per client.

Both produce full color, high impact total compensation statements in print and the Enterprise Edition includes a multi-page online statement as well. These statements are fully branded with the companyís corporate colors, logo and executive signature. Using an online wizard, Microsoft Excel template and Word-like HTML editor, employers can easily produce both print and online total compensation statements for each employee. All employers need to get started is an Internet connection and web browser -- no software is needed for installation, or complicated updates to download.

ìReplacement and training costs can be as high as one to two times an individualís salary, so itís no longer a luxury to share with employees the full value of their benefits package ñ itís a necessity,î said Ray OíDonnell, President of TotalRewards Software, Inc. ìMost employees have no idea of the staggering costs that employers absorb each year.î

In a recent National Business Group on Health survey of over 1,600 employees, more than 80 percent said they valued their health benefits above anything else in their compensation packages, including salaries. In the survey, about three in four employees said they would rather get health benefits through their employer, rather than additional salary to purchase their own.

ìBenefits make up 30 percent of an employeeís total compensation, and todayís employers no longer have the luxury of keeping this knowledge under wraps,î OíDonnell adds. ìPromoting the value of total compensation raises employee morale, increases productivity and retains top performers.î