Total Reward: Show Your Employees Your Full Investment

With a Total Reward Statement, employees can see the true value of their total reward and compensation package, beyond just their salary.
Video: Total Reward

When negotiating a job or discussing their current compensation, it’s common for people only to refer to their salary. Unfortunately, this means they’re missing out on a significant portion of their total reward and compensation package, including benefits, insurances, pensions, and other add-ons.

The research in our Employee Happiness Index reveals that 80% of employees underestimate their total compensation. For employers, this unawareness results in lost money spent on unused benefits and an increased risk that employees will go somewhere else they believe they are better compensated.

With Benify’s Total Rewards Experience, employees are presented with an engaging and digital visualisation of their total reward. As a tool for both retention and attracting new talent, think of a Total Reward Statement as an enhanced employee value proposition that illustrates the true value of an employee’s total reward and compensation package beyond just his or her salary.

Any changes to an employee’s compensation, such as a bonus or enrollment in a new benefit, are reflected and updated on their Total Rewards Experience in real-time and then linked to the Benify Communications Engine to ensure personalised reminders and updates. Use Benify’s Total Reward Experience together with the communication engine and Benify app to drive employee engagement.

This way, our employee benefits platform ensures that your employees always are aware of their true worth.

Learn more on our blog

What is a Total Reward Statement?

A total reward statement calculates, assembles, and visualises the total value of an employee’s compensation package beyond just their salary. A total reward statement is also a powerful tool in a company’s retention and recruitment efforts.

What are Salary Sacrifice Benefits?

Did you know 80% of employees underestimate their total compensation? In today’s war for talent, it’s essential every employer ensures that their employees understand the full value of their investment.