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The Cost Balance

936643982_29533328a5_2Do you get tired of employees asking for more money and not appreciating everything that your company does for them?  No matter how you balance the package it is never enough.  It can keep you up at night, and it can also start to distort your view of your employees.  You may start to criticize the performance of all employees, even your stars, because of the frustration.

The cost of an employee is expensive and in many cases employees have no idea what the true costs are.  They may fail to realize or remember that wages are just part of the picture.  They forget about taxes, the different kind of insurances that may be offered, retirement benefits, vacation, sick leave, holidays, and many other costs that companies cover for their employees.

This is not a new or novel idea in the business world, but bringing it up for those who have not heard of it has merit.  You may want to consider a yearly statement that is handed out to your employees that reflects all of these costs.  It provides an employee a different perspective on how the company spends resources in relation to each individual.  It also provides the information for a great discussion on how the company tries to balance the costs associated with employees.  The balancing act will never satisfy everyone, but it can bring an appreciation for the process and costs that companies must consider for their employees.

Flickr photo by bebalance

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