What is Wages PlusTM? Every company has a need to present the hidden value of benefits to their employees. Though the average employer may pay as much as 38% of their payroll in benefits, they may not fully understand the value of these benefits and the contributions made by the employer.
Wages PlusTM was created as an online benefit statement to make it easier for employers to uniquely communicate this value.
How can we implement it for our company?
We work with your staff to identify the benefits you want to feature, and structure the type of statement you want to present to your employees. We help you gather the necessary benefit information for each employee. We take this data, create the pages needed to attractively present this information, then give it you for your review and revision. Each page carries the company's branding. Generally it will take 2-3 weeks to customize and launch your benefit statement.
How can the statement be customized to my unique situation? Benefit statement are personalized, reflecting the precise benefits that your company provides employees, including the contributions made by the company and by the employee. Once an employee logs in they are presented with a wide range of information, including a Total Summary Compensation Statement that can include the following:
- Salary, Commissions and Incentives.
- Employer and employee contributions for Health, Life, and Voluntary Benefits
- Employer and employee contribution for pensions, 401(k), and profit sharing
- Employer and employee contributions for Social Security, Medicare, FUTA, SUTA and workers compensation.
- The value of holidays, vacation days, and sick leave
Other sections in the statement identify the employee elections for health, life, voluntary, and retirement benefits, including the coverage types they have selected, the insurance carrier they have chosen, and their monthly premiums
How is it priced? We charge a flat fee to create the statement, based on the number of employees in your company. Our pricing includes hosting it for our employees.
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