This is the simplest type of Employee Benefit Statement, an 8.5' x 11", one-sided document & was developed specifically for a Hospital that wanted to deliver employee benefit statements prior to an employee vote for/against the inclusion of a Union. The vote was "No Union", though we cannot say that this document affected any of the votes.
A Quick break-out of Annual Wage.In this case, we were supplied with "Annualized Wage" which is a Projection of a full year's wage, based on hours and rate.
This method creates a Forecast statement. Paid time off is calculated based on (usually) years of service & consists of vacation, holidays and sundry other time off depending on Time Off policies. In this example:Annual Wage - Paid Time Off = Pay for Time Worked or could be called 'On the Job Pay'.
Companies often make the mistake of adding Time Off to Wage, which effectively 'double counts' Time Off and inflates the Total Compensation. This type of error is ungood in the extreme. We have also seen other vendors make this error for prior year statements.
A Common Misunderstanding
Most Employers arrive at the conclusion that a Template (such as shown to the left) cannot be changed, that they are 'stuck with it'.
Untrue. We customize all work. The only item that would remain the same is the size of the paper. Every other item would be customized and/or personalized.
We customize and personalize.
Note that a brief Benefits Summary is included for each benefit. Benefit statements should be more than 'just numbers'.
Employee Benefit Statement Sample #1
A Simple Employee Benefit Statement(type = Forecast, 8.5 x 11", simplex)