Hi All
Im working on putting together a digitally delivered total reward statement for each of our employees so just a couple of questions.
- My main question is, what are the key areas of reward/benefit that you include on your statement please? Granted there could be anything from free parking, tea and coffee and allsorts of other things on there!
- Do you deliver your statements in hard copy or digital format?
- Do you believe that total reward statements are meaningful and engaging anymore in the current economic climate?
Any and all thoughts are welcomed.
We wouldnt want to calculate everything of course, but our current package comprises of these areas;
- Occupational Health Services
- Annual Employee Awards Scheme
- Health & Wellbeing initiatives
- Coaching & Mentoring
- Paid Learning & Career Development
- Paid Continuous Professional Development & membership fees
- Childcare Vouchers
- Critical Illness Cover
- Health Screening
- Healthcare Cash Plans
- Contributory Pension & Life Insurance Cover
- Salary Sacrifice Company Car Scheme
- Flexi Time
- Enhanced Sick Pay
- Flexible Working
- Enhanced Maternity Pay
- Enhanced Annual & Special Leave
- Telephone Counselling for employees and their families
- Access to national retail discount schemes
Replies
Definitely a question to get the mind thinking! The current company I work for breaks down TRS in the following
Pension contribution (both you have made and the company)
Pay
Annual leave
Redundancy
Death in service
Salary sacrifice scheme
Statements are provided digitally and employees are advised to print off their current statement as it it replaced at the start of the financial year.
I believe it's a good way of showing employees where their money is going and if something was to happen they have some sort of security.
Vimmee
Hi Jason
Great question where I used to work we introduced these and from memory it included:
Base Pay
Pension
Shift Pay
Allowances e.g. Car / Location
BUPA
Holidays (which were over and above the statutory)
Bonus
We had many elements of what you have included in the above list but did not include these on the Total Reward Statements.
These were delivered in a soft copy form for office based staff via an online portal. I know one of my learners was heavily involved in the development of these for his Company and would be happy to ask him if he could get in touch as he has finished his programme now and may not be on the HR Zone anymore.
I hope this helps
Sarah
Hi Sarah
Yes, that would be great please if you are still in touch with the learner and they could make contact. My benchmarking has taken me from the sublime TRS to the ridiculous TRS, so Im ideally looking for something meaningful that actually engages and isnt another under appreciated metric. Many thanks.