Frequently Asked Questions
Benefit Statement Software Frequently Asked Questions
Questions and Answers About COMPackage Employee
Benefit Statement Software and Personalized Benefit Statements
If you’ve never worked with personalized benefit statements before, you may initially have some questions about COMPackage’s benefit statement software. How will this technology help me? Is it easy to use? What are the benefits of using COMPackage benefit statement software over an outside source? Over the years, we’ve collected the questions we most often receive from clients, and we’ve assembled them all on one easy-to-read page. We’ve provided answers to these and other questions below. Simply click on each question you have, and the answer will appear underneath.
If you have a question about personalized benefit statements that is not listed below, feel free to contact us today.
Q.
Can COMPackage's benefit statement software help resolve employee-related issues such as high
turnover, poor productivity and low morale?
A.
A lack of consistent, accurate and reliable employee communications
is at the heart of many of these problems. There is a disconnect
in communicating the difference between the actual dollar value
of an employee's total compensation and the perceived value that
an employee realizes when he/she reads the "after tax amount" recorded
on their paycheck, which represents only about 50% to 65% of their
total compensation. The employer's financial commitment to provide
competitive wages, security, safety and future economic health for
their employees is seldom communicated and many times, this lack
of communication results in the difference between productive, loyal
employees and poor job performance caused by low employee morale.
It can be a costly miscalculation for the employer who does not
realize the importance of providing accurate and timely communication
in not reporting sensitive compensation information to their employees on personalized benefit statements.
Q.
Our company is in the dark ages when it comes to technology. Will
your benefit statement software be too technical for our small company?
A.
COMPackage is a "Best-In-Class" technology-driven employee compensation
and fringe benefit statement reporting system that is easy to use,
easy to read and easy to buy! The "Report Builder" benefit statement software is menu-driven
with help screens that take you through the five-step process in
minutes. Most personalized employee benefit statements take about six minutes to build and
can be printed at any time on demand, within seconds.
Q.
How do
I use the personalized compensation and fringe benefit statements?
A.
COMPackage Total Compensation Reports can be used for year-end
reporting, employee retention, salary reviews, and even recruitment strategies.
Q.
How can I customize a generic "off the shelf" benefit statement program like COMPackage
for my unique company requirements?
A.
The beauty of COMPackage is that it automatically customizes
each personalized benefit statement when you input the information into the "Report Builder"
database. Each report that you build is unique and exclusive to
your company and your people. Custom information on each personalized benefit statement includes: your
company name, address and employee communications policy statement,
personal information about each employee, a list of standard benefits
that you offer to all of your employees and the special benefits
or fringe benefits that pertain to individual employees.
Q.
How about the security of my information? Can personalized employee benefit information
be hijacked, hacked or misappropriated by others?
A.
With COMPackage's personalized benefit statements, your information never leaves your office.
Your private company information is input and stored on your hard
drive and by using password protection; only authorized personnel have the ability to access personalized benefit statements or print reports.
Q.
What if I only need 16 personalized benefit statements for my employees?
A.
Buy 15 plus only 1 additional personalized benefit statement, or buy 25 and use the
remainder as recruitment tools and new employees throughout the
year...your choice.
Q.
I only have a few employees and don't need 15 licenses. Isn't there
a way to buy only a few?
A.
Presently, there's nothing on the market that we know of
available for less that 50 - 100 employees, so let's say you only
have 5 employees? For $199.00, or less than $40.00 each, you have
a best practice productivity tool available to your small company.
If you tried to emulate this copyrighted benefit statement software yourself, it could
take you an endless number of hours. Your time is worth more than
$199.00, isn't it?
Q.
Times are tough. Why would I want to use personalized benefit statements, especially if we're cutting back on compensation strategies?
A.
Now is the most important time for personalized benefit statements. Your employees are scared, unsettled, and already don't know that their package is 40% more than their pay. And now you're telling them that you're making cuts to the program. What better time to package the depressed message with the real message, through Total Compensation Reports. "Yes we made some cuts to our program due to economic uncertainties, but we still wanted you to know the nature of your entire package. You are valuable to this company, in good times, and even more so in tough times."
Q.
We have our employee data in a database. Is there an easy way to load this into COMPackage's benefit software?
A.
Yes. If you can export your employee data to Excel, or to any file than can be opened in Excel, one employee per line, your data can easily be imported into COMPackage using the Employee LOADER feature.
Q.
How long does it take to input 100 or 1000 employees into COMPackage?
A.
Not long at all! Before COMPackage developed the Employee LOADER, it took 5-10 minutes to create each employee record. Using the Employee LOADER, you can import all of your employees from an Excel file. If you have, or can create, an Excel file of your employees, it takes a few minutes to map your column headings to the headings in COMPackage. Once that's done, importing employees takes only a few seconds, whether you have 100 or 10,000 employees.
Q.
We do our employee reporting using a manual system we created. Are there benefits to using COMPackage benefit statement software instead?
A.
Customers tell us that creating total compensation reports internally takes days or weeks to complete. COMPackage lets you accomplish this in a few hours, and provides compelling, colorful, professional reports that clearly present the employee’s total compensation package.
Q.
We use an outside service for our personalized benefit statements. Are there benefits to using COMPackage instead?
A.
Yes. Firstly, there is cost savings. For example, if you have 5000 employees, the cost is less than $0.40 per employee. In contrast, many companies outsource this function for tens of thousands of dollars. Also, companies tell us that even though they outsource this function, there is a level of effort to prepare employee files for the vendor providing the reports. In fact, using COMPackage can take you less time than you currently take in outsourcing your personalized benefit statements.
If you would like more information about COMPackage's personalized benefit statements, please contact us today.
