A valuable tool, helping employees understand the scope and true value of their benefits package
Total Reward Statements
Employees often underestimate the value of their benefits. Total Reward Statements are used to communicate all the benefits being offered, helping employees understand the scope and true value of their benefits package. When implemented effectively, the statements are a valuable tool in the retention and motivation of employees.
As well as basic salary, Total Reward Statements will usually include: employer pension contributions, the value of a company car or allowance, private medical insurance (PMI), other insurance and protection products, shares, bonus payments, and the value of any other perks that are quantifiable. The statements are usually issued annually, and therefore can also be a useful tool in communicating any changes or enhancements to a benefits package.
Fair Care offers a branded and personalised 'on-line' or a paper-based solution, always making sure that the communication is effective and the content is easily understood. Full administrative support is given, ensuring that the process remains simple and quick for employers.
If you would like more information about this service, please contact us.