Total Reward Statements
What are Total Reward Statements?
A Total Reward Statement sets out the overall value of an employee's financial reward. This will be personalised for each individual, but would include base pay, incentives and employee benefits. Such bespoke communication both attracts and motivates employees ensuring that each employee is aware of their full value to your organisation, often highlighting less tangible benefits, for instance gym membership, learning and development programs and flexible working.
Not only does using Total Reward Statements reinforce your brand and set you apart from other organisations, it raises awareness and appreciation by focussing an employee's attention on the benefits you offer.
A Total Rewards Statement is a self service tool that can help reduce HR administrative costs by educating and informing the employee to assist them with their own financial planning.
Together with our partners Staffcare, we can help you create Total Reward Statements for your employees to benefit from.