Moving into Q4, organizations are thinking ahead to 2016. For many organizations, total compensation statements are high on the to-do list.

Why should your organization be thinking about producing a total compensation statement? There are many reasons, of course, but here are our top five:

Employees don't value what they don't know -- Multiple studies and surveys over the years have found that employees consistently undervalue their total rewards package. A total compensation statement clearly shows employees the true level of investment being made by an employer.
Increase the ROI of compensation and benefits -- By laying out the full details of each employee's total rewards package, a total compensation statement increases the odds that the benefits and compensation you provide to employees will be effective in driving employee satisfaction and engagement.
Increase employee retention -- Employee turnover is expensive. According to one recent survey, almost half of workers agreed that a well communicated total compensation program would make them less likely to leave their current employer.
Reinforce the employee value proposition -- Employees - particularly high performing employees - have choices and options. Total compensation statements are an extremely cost effective way to make sure that employees understand the many advantages of committing to your organization.
Build your employer brand - Total rewards communications help reinforce other communications and initiatives that, taken together, increase the brand value of the organization as an employer.