Understanding Total Compensation

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According to the most recent Society for Human Resource Management (SHRM) annual Employee Job Satisfaction Survey, “Forty-five percent of employees reported that they would be likely or very likely to look for other jobs outside their current organization within the next year… As the economy continues to improve and job seekers become more confident in securing new positions, organizations must design competitive benefits packages to attract and retain top talent.” No matter what benefits you offer employees, it is always a good idea to take the time to re-evaluate what you offer employees and educate them about what their total compensation package is worth. With nearly half your employees keeping an eye on new employment opportunities, ensure they are aware of the full value of their compensation, lest they perceive greener pastures elsewhere.

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