Sustained employee engagement
Brexit is likely to exacerbate the skills shortage, so remaining responsive to ensure reward packages remain competitive at this stage is increasingly important to retain top performers and attract the best external talent. We are supporting our customers who want to demonstrate their commitment to their employees and reinforce the positive value that their employees derive from work that is not just financial.
Total Reward Statements are an effective and immediate way to demonstrate your commitment to your people’s development. A Total Reward Statement demonstrates the breakdown of the reward package in terms of both the financial and non-financial elements. This in turn improves the opt-in rate as employees become more aware of the full benefits offered to them.
The statements have long been a valuable and effective way to communicate the full value of reward packages. They capture the traditional benefits on offer such as base salary, bonus earnings, pension schemes, alongside additional benefits, including personal development and growth, and environmental factors, covering the culture and physical working conditions.
On a longer-term basis, our reward strategy design and job evaluation services can help ensure that progression is clearly mapped out and can support long-term employee engagement. Our recently published special report looks at the engagement challenges facing employers in more detail.
Get in touch if you would like to discuss how we can help to activate your reward strategy to get maximum engagement from your people.