The cost of employee benefits is approximately _____ the cost of salary and wage payments.

Question

Quizplus · Accepted Answer

According to the Bureau of Labor Statistics, the cost of employee benefits in the private sector was approximately 31 percent of total compensation costs in June 2020. This means that for every dollar paid in wages or salary, an additional 31 cents is spent on benefits such as health insurance, retirement plans, and vacation time.

The Cost of Employee Benefits Is Approximately _____ the Cost