Non-Salary Compensation per Employee
This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring Non-Salary Compensation per Employee. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Non-Salary Compensation per Employee?
The total amount of non-salary compensation paid to company employees divided by the total number of employees working for the organization over the same time period. Non-salary compensation typically includes insurance premiums, retirement program benefits, unemployment benefits, gifts/awards, and other non-monetary fringe benefits paid for by the organization.
Why should Non-Salary Compensation per Employee be measured?
Non-Salary Compensation Expense per Employee measures the amount of fringe benefit-related cost paid by the company on a per employee basis (i.e., average per employee). While total compensation costs should be controlled, non-salary compensation and the quality of the company's benefits programs should be compared to that of similar organizations to ensure that the organization is offering competitive benefits to its employees (and potential new employees). Benefits packages (i.e., health insurance, retirement benefits, etc.) that are out of line with the marketplace can lead to increased talent acquisition costs (e.g., higher Time to Fill, Cost per Hire, etc.) as well as turnover within key positions. These factors may also have a negative, downstream on impact employee morale, productivity and work quality. Practically speaking, a value near the average or median for this metric (for similar organizations, competitors) should be established, then dialed up/down based on the company's hiring needs and overall human capital strategy.
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