Make your employees aware of their total reward

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.

Our research 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 visualization 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 personalized reminders and updates. Use Benify’s Total Reward Experience together with the communication engine and Benify app to drive employee engagement.

This way, employees are always aware of their true worth.

Learn more on our blog

What is a Total Reward Statement?

A total reward statement calculates, assembles, and visualizes 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.

How to Help Employees Understand the True Value of Their Compensation

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.

Using Technology to Meet Employee Demand for Transparency

With today’s employees demanding greater transparency from their employer, leading companies are using technology as a tool to help increase transparency around reward in much the same way that it has improved connectivity and communication.