Most employees have no idea of the expense an employer incurs in providing benefits to its employees. Sometimes referred to as the "second paycheck", the benefits, in addition to your employee's paycheck might be communicated to your employees by way of an annual "Employee Benefit Statement". These statements can be expanded to include information on each of your benefit plans, employee anniversary date, and even a pie chart showing how much you pay vs. how much the employee pays for benefits. These statements may be as simple as a word document showing the total pay received plus the amount that the employer paid for insurance, non-worked time ( vacation, sick pay, etc.) and other benefits.
To view a sample statement click here.
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