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We're all human, and when we don't write the checks personally for these benefits, we just don't realize what they are worth. Only when we are reminded of their value or when we loose the benefits does it really hit home.
The cost of benefits is probably around 40% of your payroll -- it may be the second largest single expense your company has. Presenting each employee with an individually prepared statement of benefits is one way of getting credit and appreciation for this company expenditure.
Each statement contains a list of all the benefits an employee receives and then shows the cost of providing them. The costs are specific to each individual -- if there are two weeks of vacation, then the cost is for two week's time at that specific person's rate of pay. When the costs are specific to an individual (as opposed to generalizations, averages, or pro-rations) they become much more impressive and personal.
The most common initial reaction to the idea of preparing benefit statements is "The job of assembling all that data for each individual is, if not impossible, then a gigantic and unthinkable task!". That may be true for some, but not with our methods. We do not ask you to prepare any special census data or reports. You have all the information we need already in a file or computer. We just ask you to provide copies of the information in whatever form you have it. Most people tell us that it took them less than one hour to assemble it -- few say more than two hours. We do all the rest. And we do it quickly. Usually we have samples ready for your approval within two weeks of data submittal, and we have the finished product ready to be distributed within two weeks of receiving your approval.
Because we combine the presentation of benefit statements with the introduction of our voluntary benefit plans, the cost to you is greatly reduced if not eliminated. And the effectiveness may be very greatly enhanced. That's because we are often able to personally present each statement by a trained benefit counselor, go over it with the employee, and answer any questions right on the spot. That way, you know they received the statement, read it, understood it, and appreciate the value of their benefits.
If you are already providing benefit statements from another source, we are often able to utilize your statements but do the personal presentation and explanation as part of the voluntary benefit introduction.
If you would like to discuss the possibilities of our providing benefit statements for your employees, just give us a call and let us fill you in on the details.