What is 'employee cost' in SAP PA-BN-FB - Flexible Benefits?

employee cost - Overview

• Component: PA-BN-FB

• Component Name: Flexible Benefits

• Description: Additional cost to employee based on the benefit options chosen, which is equal to the standard value minus the flexed value. This is the net cost that an employee must pay additionally, when the value of the flexed benefits chosen flexed value is greater than the value of the standard benefits offered standard value.

employee cost - Details

• 
  Key Concepts: 
  Employee cost is a term used in SAP's PA-BN-FB Flexible Benefits component. It refers to the total cost of an employee's benefits package, including salary, bonuses, and other benefits such as health insurance and retirement plans. This cost is typically calculated on an annual basis. 
  
  How to use it: 
  Employee cost can be used to help employers determine the total cost of their employees' benefits packages. This information can then be used to compare the costs of different benefits packages and make decisions about which ones are most cost-effective. 
  
  Tips & Tricks: 
  When calculating employee cost, it is important to consider all aspects of the benefits package, including salary, bonuses, and other benefits such as health insurance and retirement plans. Additionally, it is important to factor in any potential changes in the cost of these benefits over time. 
  
  Related Information: 
  Employee cost is closely related to other terms such as total compensation and total rewards. Total compensation refers to the total amount of money an employee receives from their employer, including salary, bonuses, and other benefits such as health insurance and retirement plans. Total rewards refers to the overall value an employee receives from their employer, including both financial and non-financial rewards.