Small and midsized employers now can create total compensation statements for all their employees easily.
by David Vance
December 4, 2006
Small and midsized employers now can create total compensation statements for all their employees easily and at no cost with the launch of FreeTotalCompStatements.com, the first free, on-demand total compensation statement software.
FreeTCS.com is an advertising-supported, on-demand application that allows employers to produce high-impact, personalized total compensation statements that communicate to employees that there is more to their total compensation than direct pay.
“With the Bureau of Labor Statistics recently reporting that benefits make up 30 percent of total compensation, it’s no longer a luxury to show employees the value of their benefits program and the impact it has on their total compensation — it’s now a necessity,” said Ray O’Donnell, president of TotalRewards Software Inc., parent company of FreeTCS.com. “Promoting the value of total compensation results in improved employee morale, increased employee productivity and the retention of top employee talent.
“Additionally, in this era of benefits cost-sharing, communicating a company’s benefits investment can lead to less resistance by employees toward any current or future cost sharing arrangements.”
A premium, advertisement-free subscription is also available.
It features featuring the ability to upload employee data via an Excel template, company branding through the Style Editor, additional cash compensation and benefit programs, as well as a free, multipage online total compensation statement (the enterprise edition).
Professional implementation and data management services are also available. The premium subscription starts at $50 a month per company.
As an on-demand application, FreeTotalCompStatements.com, is available 24×7 from any location. All employers need to get started is an Internet connection and Web browser — there is no software to install or complicated updates to download.