Want to reap the rewards of Total Reward Statements?
Create total reward statements that are easier to read and understand for each employee. Plus do a great job at promoting your benefits packages and corporate values.
What are Total Rewards Statements?
A total reward statement is a personalised document, which communicates to employees the overall value of their financial rewards such as base pay, incentives and employee benefits. But more than that, at Personal Group we know it can help drive a culture of positivity.
Many organisations do not see the true worth of their benefits or rewards and therefore are missing out on promoting their offering to their advantage.
With strategic thinking behind it, total rewards statements are great for reaching out and informing employees about the beneficial worth of their benefits and your own corporate values.
What are the components of great total rewards statements?
A statement of total rewards is not just about a document showing pay.
There are several parts that bring highly valued benefits for organisations and their employees.
Allowing employees to see all their benefits in one place
Statements illustrate an individual employee’s total rewards entitlement.
Giving a clear explanation
Employees get informative detail on each of their benefits allowing them to fully understand their package of benefits.
Reinforcing your values
A total rewards statement, as with any corporate communication, should be branded in your corporate style whilst communicating your core corporate values. It is a statement of what you stand for as a company and can be used effectively to reinforce this to improve your standpoint and overall company image.
What we offer
At Personal Group we always have an individual approach in mind. Cost effective with low administration time and costs, we offer the option of electronic and printed statements that are bespoke. Giving positive news about each employee’s reward, we help to shift the emphasis away from just salary alone and instead raise awareness of the value of the benefits provided.
Focused total rewards statements
By clearly highlighting the benefit of your offering, we can help to forge stronger relations between you and your employees, together with a more committed work ethic to help improve retention. At the same time it helps to create an attractive image for your company to assist with staff recruitment.
Our approach to creating Total Rewards Statements
Whether in an electronic or paper form this universal employee communication provides an opportunity to promote your employee benefit offering.
Working in consultation with you, we can create a great statement from every angle
Reviewing your current rewards
We’ll look at the benefits you offer to ensure they’re in tune with the needs of your employees and look into pros and cons of introducing a range of benefits or rewards to suit the demands of your employees.
Picking out the advantages
We’ll delve into what are your most popular employee benefits and highlight the advantages of each one. This will help you to weigh up what benefits to select whilst draw out the benefits to each employee.
Providing helpful information
To ensure employees will be able to find out more about your benefit offer, we can link to other information resources such as your intranet site.
You invest in benefits… now make their value pay
Many organisations make big investments in benefits which may not be fully tapped into. One of the pitfalls is that they fail to properly promote the total value of their benefits package to employees.
We can provide you with an opportunity to
- Communicate your current employment package
- Improve awareness of its value
- Increase employee engagement; and
- Help improve organisational performance.