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Building Trust Through Transparency: The Total Compensation Statement Sample Explained

COMPackage

Incentive Compensation: Any bonuses, commissions, or other performance-based pay. Benefits: A list of all benefits provided by the employer, such as health insurance, retirement plans, paid time off, and life insurance. It typically includes: Base Salary or Wages: The employee’s hourly or annual pay rate.

401(k) 40
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Standing Out in the Crowd: How Total Compensation Reports Attract Top Talent

COMPackage

Highlight benefits that particularly appeal to a certain role or skillset. For example, a TCR for a software engineer might emphasize tuition reimbursement or access to cutting-edge technology, while a marketing role might highlight flexible work arrangements or social events. Effective TCRs must account for both types.

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What is Workers’ Compensation?

Insperity

Presently workers’ compensation is a quid pro quo system under which the employee gives up the right to sue the employer for injuries from work-related accidents in exchange for receiving benefits without regard to fault. The proceeds of any such suit are usually applied first to reimburse the employer for benefits paid to the employee.