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Articles

• To AIG or not to AIG
• Medical Mergers May Reduce Cost
• Employees Make Business Succeed
• Reducing Labor Costs to Save Jobs
• Commitment to Employees is Crucial (part I)
• Commitment to Employees is Crucial (part II)
• Separate Health Coverage Categories
• Unemployment Insurance
• Bottom Line Savings
• Communications
• Insurance vs. Self-Insurance
• Rise in Healthcare Costs
• Total Compensation
• Triple D
• Universal Healthcare
• Workers' Compensation - Devil in the Details

UNDERSTANDING THE PAY ENVELOPE

To many people, compensation means a pay check– what you “make” hourly/weekly/monthly, or annually. Many years ago, in the days of the “pay envelope”, this was true. There were no Workers’/Unemployment Compensation, Social Security, Medicare, Paid Vacations/Holidays, Retirement, Health, Disability, Life Insurance Plans. These programs became known as “fringe benefits”, but they now have a significant impact on labor costs and sometimes are viewed with more importance than “pay”.

Companies need to communicate the value of the Total Compensation package to employees in helping them understand their “pay envelope”.