MTL Insurance Company

Challenge

Mutual Trust Life Insurance Company was founded in 1904 on the principles of mutuality and policyholder participation. Throughout the past century, MTL has continued to provide premier life insurance products, designed to maintain integrity over time, to provide policyholders with protection and wealth management, while maintaining excellent financial strength.

MTL is also a firm believer in communicating the value of their benefits and the impact that value has on employees’ total compensation. For the past several years, MTL has been producing total comp statements for employees using a home grown solution. Their challenges with this solution were many — it only exist on one computer so their HR team struggled with sharing project responsibilities. Setting up and designing the statements was not user friendly and often times needed coding to format the layout. Lastly, the end result was not the polished, professional look they desired.

Solution

Not satisfied, MTL HR staff searched for a more user-friendly, professional solution. After evaluating several options, MTL selected TotalRewards Software to provide their employees with personalized, total rewards statements.

Results

Using the web-based TotalRewards Builder software platform, MTL was able to create individual statements that detailed each employee’s cash compensation along with the total value of their benefits and retirement programs.

While “fun” is not normally a word typically associated with a total compensation statement project — the MTL HR team proved otherwise. No longer chained to and burdened with a hard to use internal solution, they made the most of the project. “I’m having lots of fun creating these total comp statements! This platform really is great, thank you! I’m looking forward to doing this project again next year” described Stacy Ryan, HR Generalist at MTL. “Our employees really liked the layout of these statements and appreciated the fact that they were personalized just for them! Thank you for all your help, this project was a huge success!”

Next year, MTL looks to roll-out the online statement format included with TotalRewards Builder. Employees can then log in from work to view their statements or from home to share with family members.