Total compensation statements provide HR teams with an opportunity to communicate with employees about their benefits and to showcase just how much the company has invested in them. (Photo: Shutterstock)

Paychecks pay mortgages, buy food and make vacations possible.But what about the other parts of their compensation? For employees, these benefits are often overlooked and forgotten, and it’s up to employers to step in and remind employees of the full value of their compensation packages.

Total compensation statements are a great way to do so. They typically include the overall value of an employee’s financial rewards, medical benefits and less-tangible benefits like flexible work arrangements and continuing education opportunities.

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