HotSpot: Employee Communications Blog

Effectively Communicating Total Compensation

Posted by Spitfire Communications on Jan 18, 2023 10:08:00 AM

As an increasing number of organizations move toward complete pay transparency, the importance of informing employees about exactly how they’re compensated is a key part of the process. Total compensation statements are a way to paint the bigger picture by showing your employees the breakdown of their benefits and rewards beyond just base salary. 

Total compensation, when communicated effectively, can help boost employee engagement, retention and talent attraction while educating employees on how they’re truly being compensated. It’s vital to include the right information, adhere to certain best practices and arm your managers with the tools they need to engage in discussions with employees. 

 

Keep reading to learn how to communicate total compensation to your employees, so you can optimize the outcomes.

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Tags: Employee Communications, 401(k), HR Communications, Employee Engagement, Open Enrollment, Human Resources, internal communications, communication strategy, Employee Marketing, benefit package, compensation statement, financial wellness, eap

Tell the Saver’s Tax Credit Story

Posted by spitfireWeb on Mar 26, 2015 2:40:41 PM

Did you know that just a quarter of U.S. employees with annual household incomes $50,000 or less are aware of the nine-year-old tax code provision called the Saver’s Credit? This credit helps to offset the first $2,000 they contribute to their employer-sponsored retirement plan, including 401(k), 403(b), 457 and Thrift Savings plans.

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Tags: 2015, 401(k), 401(k) plan, 403(b), 457, April 15, contributions, dependent, elective deferrals, federal employees, Form 1040, Form 1040EZ, Heads of household, income tax returns, IRS Form 8880, tax code, tax year, taxpayer’s refund, Thrift Saving, Uncategorized, workplace program, IRS publication 590-A, Married couples, married individuals filing separately, public schools, retirement plan, Saver’s Credit, SHRM.org, Singles, state or local government employees, student

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Spitfire’s very own blog, where we’ll shed light on best practices, insights, and experiences in the field of employee communications

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