What is in the total cost of an offer?
Salary plus the employer share of premiums, account funding and paid time, stated for the individual.
How it works in practice
Salary is one half of an offer. The employer share of premiums, account funding and paid time is the other.
A statement puts both in the same dollars.
Two offers with the same salary are not the same offer if the employer’s share of benefits differs. Stating both in the same dollars lets a candidate compare what each employer is actually putting in.
Build the figure from the employee’s own situation, using the tier they would likely choose. State what is included and leave out anything you cannot price accurately, so the number holds up when a candidate asks how it was reached.
Three places to go next
The Total Cost of an Offer, Including Benefits
Salary and benefits compared together.
Compensation strategy and total rewards
Pay and benefits designed as one budget.
Pay philosophy and structure
Where you intend to sit and how ranges work.
Where this comes from.
This page describes how CFH builds and times total compensation statements and related materials for employer clients. It uses no outside statistics.
Send us your renewal.
We’ll tell you whether it looks competitive, where we see opportunity, and the five questions we’d put to your carrier. No cost, and no obligation to move anything.
The renewal letter
Your current plan summary
Contribution split by tier
Enrolled counts by tier
Four documents — two more if your group is 50 or more. Nothing else; every extra one is a reason to postpone.
An independent employee benefits consulting firm. We look at the entire benefits program: cost, plan performance, risk and administration.
Switch to CFH. Unhappy with your broker? Your employees won’t notice. You will. →