Why should we send Total Compensation Statements?
Total Compensation Statements are a powerful communication tool. You need to decide how your communication strategy will fit the business objectives of your company. If you are experiencing high turnover rate your objective is to get the message out that you are providing competitive benefits packages and what the value of those benefits are.

We have wanted to provide Total Compensation Statements to our employees. What is the cost of the statements?
It really depends on how many employees, how many versions, the number of benefits to be communicated, the style of the statement, whether it is a booklet, brochure or a folded style. The cost also includes the development of the statement including the text, graphics introductory statement and actual data.

How can we quantify the results of sending Total Compensation Statements and how will it give us a return on our investment.
In order to see a return on your investment you can survey your employees to see how it is received and if it made a difference in how they view the company as well as knowing what they are provided. This will help in determining if you need to make any changes to the statements for the next year. You also need to send the statements on a regular basis in order to really know if this is doing the job of communicating your objectives.

When and how often should we send Total Compensation Statements?
You need to determine what your communications goals are to decide how often you will send the statements. You may want to coordinate the statements with your insurance renewal periods, at the end of a calendar year or fiscal year. A minimum would be on an annual basis.

What are the advantages or disadvantages of hiring an outside firm to develop our Total Compensation Statements?
The advantage of hiring an outside firm that specializes in Total Compensation Statements is that this is all the company does and it frees up your own employees to do the work that is central to their job.

The disadvantage is that your staff may not be specialists in providing the knowledge to produce a solid Total Compensation Statement. The time spent on the project could end up costing the company in time and money that could be spent on the important day to day operation of the department.

How is Security maintained?
The software Mitchell Clark Solutions utilizes is a state of the art benefits software system that is flexible in receiving various formats of data as well as the number of files being sent and maintained. The files are protected against any outside source being able to open sensitive files when transmitting.

While the data is maintained in our database, the information is fully secured and is not released to any outside source. The confidentiality and protection of the information is our highest priority.

How much time will the senior executive be involved in the project?
Having involvement from your senior executives is an important piece to the communication project. Your senior executive will determine your communications goals, provide the important introductory statement to the employees and approve the final look and language of the statement.  Our Total Compensation Statement Process is designed for companies that have 100 to 2,000+ employees.  The length of time our projects run range from a minimum of two months to six months for larger, more complex organizations.

Why choose Mitchell Clark Solutions to develop Total Compensation Statements?
Mitchell Clark Solutions dedicates the majority of its time, resources and efforts on the development, customization and delivery of Total Compensation Statements for clients. While we have developed a five part process for this, in no way do we run our clients through an assembly line, cookie cutter format. Rather, our efforts are customized to fit our clients individual and unique needs. We help toempower our client through a dedication to our craft, commitment to their key objectives and the utilization of a proven process. This has been proven to be a winning combination that’s beneficial to both parties.

Call 877.463.6131 or Email us today to schedule a complimentary consultation to determine how Total Compensation Statements can improve your company’s bottom line.