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Total reward statements
Total Reward is about providing employees with a clear understanding of everything you offer them, to reinforce how much you value them. Indeed, 47% of those companies using Total Reward Statements believe they are a cost-effective communications tool, and many use them to increase engagement not just with reward, but also with wider company considerations, such as its vision and values and learning and development opportunities.
As with most things, more companies are taking Total Reward online to improve efficiencies in administration and accessibility. With the ability to provide both employees and employers 24/7 access to real-time updates that are accessible across widely-dispersed workforces, investment in online has the potential to go further for less.
Our Experience
Thomsons Online Benefits has implemented total reward statements for nearly 300 UK companies, whether as a standalone initiative or part of a launch of salary sacrifice or flexible benefits.
As well as providing Total Reward Statements through our award winning Darwin™ platform, we have delivered hard copy and electronic statements to our clients’ employees.
Our Services
As part of our holistic approach to benefits, we offer services around all areas of promoting Total Reward, from helping demonstrate the business case for implementing it, through to managing the day-to-day tasks to keep it up to date and support employees.
· Consultancy– helping you decide what should be included, how to value it and how to display it. Working with your different stakeholders to identify what data is available from which sources and working with you to look at which reward elements you want to include and for whom.
· Communications– creating the messaging, branding and media to reach as many people as possible and engage them in a new way of thinking about the perks of the job. In addition to that, we manage the delivery of the statements themselves and the follow-up communications to get people returning to them time and again.
· Technology– our award-winning technology, Darwin™, is for most companies the best way to deliver Total Reward, as it is integrated with flexible benefits and salary sacrifice management, meaning it is never out-of-date. For example, if any employee joins the pension, or gets a bonus award, Total Reward is automatically updated – it’s that simple.
The Result
Thomsons have many delighted clients using Total Reward Statements as a vehicle to promote everything from their organisation’s vision and values to the more obscure perks of the job, such as free fruit! And the benefits are self-evident, with more and more people using Total Reward over the years.
- If you would like to know more about Total Reward please contact us.
- A member of our consultancy team will get back to you right away.
- To stay in touch with the latest reward news and information regarding our events programme and publications click here to subscribe to MyThomsons.
