Total Reward Statements to improve engagement
Total Reward Statements can help you to engage employees and demonstrate the overall value of the reward package you provide.
Why use Total Reward Statements?
- Employees become more engaged as they gain a greater understanding of the rewards you provide as an employer and the true value of their reward package.
- Demonstrate to employees the total value of their reward package, in terms of both financial and non-financial elements.
- Improve the take-up of benefits on offer
- Employees become more aware of the potential benefits available to them.
Employees therefore gain a greater understanding of their reward package and the full range of potential rewards available to them, irrespective of whether they take them up or not. In return, employers gain a greater level of employee engagement.
Employee benefits packages are one of the biggest incentives that you can offer your people. But it’s a challenge to get the right package in place and maintain momentum through your internal communications.
Statements outline the value of traditional benefits, such as base salary, bonus earnings and pension schemes, as well as additional benefits, such as gym memberships.