[ My Benefits ] [ Benefit Essentials ] [ My Benefits Statement ]
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||Fringe Facts Statements
to a recent survey released by the U.S. Chamber of Commerce, the average cost of
employee benefits in the United States reached a record-high 42 percent of
payroll. Employer paid benefits include Social Security, retirement plans,
workers' compensation, paid time off for holidays and vacations, unemployment
benefits, life, disability, health insurance and many others.
The survey shows that the average cost of all benefits for each full-time worker
totaled almost $15,000. The actual amount paid by employers for fringe benefits
varies by industry, size of company, and geographical location. For employers
with fewer than 100 workers, benefits expressed as a percentage of payroll
totaled about 33 percent. Employers with 2,500 to 5,000 workers paid out over 43
percent of payroll for employee benefits.
Other studies indicate
that most employees do not understand or appreciate what their benefits are or
how much they are worth! A lack of appreciation for employer paid fringe
benefits often has a negative impact on employee morale which can lead to
increased turnover, lower productivity, higher operating costs and decreased
profits. These statements show employees all their fringe benefits and how much
they are worth.
When employees see the
total value of their "Hidden Paycheck" it often leads to improved morale,
reduced turnover, and increased productivity. When turnover is reduced, the
costs to recruit , hire and train replacements is lower. That translates to
greater profitability to your organization.
Fringe Facts Statements & Fringe Facts
Fringe Facts is a powerful human
resources service that provides your employees with personalized benefit statements
can be viewed on the Internet anytime they choose.
Online statements are customi-
zed for each employee. Your
employees will see only the
benefits to which they are
You don't have your own Internet or website to take advantage of this
service. We take care of everything providing your company with a secure,
professionally maintained employee benefit website on a confidential server.
Each of your employees will be assigned a
unique password to use when accessing their personalized benefit statement. All
files containing confidential information are encrypted fir extra security.
Once they've logged on to your benefit website, employees
will be able to view and print out detailed information on their benefits
including: life, health and disability insurance; retirement plans Social
Security contributions; and paid time off.
By having enrollment and
other required forms
available online, you'll save
on printing and distribution
They will also have access to important links to websites like the
Social Security Administration and other internal or external sites of your
choosing. And, Fringe Facts Online is much
more than just a benefit communications service. It allows employees to use
built-in, interactive calculators to examine numerous "what if" scenarios. They
may also obtain optional enrollment forms, as well as lists of medical
providers, employee surveys, employee handbooks, policy manuals, company
newsletters, and other valuable information.
Employees may use online
calculators to see what their tax
savings will be when they enroll
in 401(k) or Cafeteria plans.
There is simply no more effective way to
communicate the costs and value of benefits to your employees.
Portions of this page are Copyrighted materials belonging to
Benefit Software Inc.