Do you know what a “hidden paycheck” is? You are in good company if you don’t. According to a study by George S. May International, less than 50% of business owners are aware of the term.
A “hidden paycheck” are expenses you incur as an employer that don’t show up on your employees’ paystubs. These employment costs (benefits) include:
Sick, personal and vacations days
Social Security and Medicare
Paul Rauseo, George S. May’s managing director says, ” It is hard for employees to value what they don’t fully know or understand.”
Consider providing your employees with an annual detail statement of all expenses relating to their employment. Once they see the real costs of employment, they may have a better appreciation for the commitment you have made to them.
What would a hidden paycheck reveal in your company?