March is often the month in which HR professionals undertake the administrative task of producing bespoke total reward statements for their employees ahead of the new financial year but it doesn’t have to be a mundane annual task.
Our HR software allows you to create a template which can then be automatically personalised for each employee who can then log in via self-service and view their live total reward statements 24/7 – any changes you make to your employee’s pay or benefits will instantly be reflected in their live total reward statement.
If you need some inspiration on the types of things to put into statements then take a look at our previous article Total Reward Statements under what to include in total rewards statement?
Promoting employee benefits through total reward statements
When you put together a list of all the perks your employees receive from your organisation you will probably be surprised at how much is on offer – but how well are the benefits being used by your staff? If you are going to invest in benefits it’s important that your employees are aware of them and use them.
Total reward statements can be used to list employee benefits and provide an overview of them, as well as signpost employees on how to take up any benefits that they don’t currently use.
For example, if you provide your employees with access to retail discounts and cash back via a third party, provide a link to the website with more information and the reference code they should use to sign up. Additionally, if you have new benefits on offer you could make them stand out with different text or fonts under a header such as “New Employee Benefits for 2015”.
Before you create your total reward statement, you should consider measuring the current take-up rates of your organisation’s employee benefits and then measure the take-up rates again a few weeks after the total reward statements have been made available to your employees. This way you can track the impact the statements have had as a communication tool in promoting employee benefits.