Retrieving data on employee engagement is a major part of any HR initiative in the digital age. It provides high-level insights on the effectiveness of your company’s HR department, helping you make better decisions. Not only that, but executives can use this data to accurately assess how they’re compensating employees.
Now that we know what data sets you need, here’s the question – what tool provides you with actionable data on employee engagement for worker-centric improvements AND total compensation for the executive suite? The Pro and Ultimate Editions of the TotalRewards Builder.
Here are the steps your HR team can take to deliver that critical information:
1. Usage Tracking
Which of your total rewards programs are hits, and which are duds?
As we talked about in a previous blog post, tracking how much your employees engage with your HR initiatives matters. And with the TotalRewards Builder, you can track how many employees are accessing their total compensation statements – and how often they’re taking a look at your data.
To reach this information, assess on the Dashboard tab and click Usage. Here, you’ll be able to find data on…
- Online Usage: See how many employees have viewed their total compensation statements through the platform
- Usage Over 60 Days: Confirm your employees are checking their total compensation statements at the right frequency.
2. Executive Suite Compensation Tracking
Decision-makers need those “cold hard facts” so they can assess how much they’re compensating their employees. It’s just one of the details they can look at to determine the effectiveness of the HR department. With the TotalRewards Builder, you can create a custom report that will help your company’s executives do just that.
Make your case for improved HR initiatives by showing KPIs to the exec suite.
Under the Dashboard tab, click on Compensation. You’ll find the details you’re looking for, including…
- Total Compensation (by Company)
- Average Compensation (by Employee)
- Cash and Salary Compensation
- Benefits Compensation
- Benefits
When you hit the Print button, you’ll create a report which visualizes this information in easy-to-digest tables and pie charts that really break down your company’s compensation to its finer details:
- Reviewed Employee Participation Ratios and Company Averages
- Track Paid Holidays, Paid Time Off and Career Advancement Opportunities
Content from a variety of databases fits nicely into one -easy-to-read statement.
Improve Your Total Compensation with the TotalRewards Builder
The TotalRewards Builder’s Dashboard can keep your employees satisfied from the work desks and cubicles all the way into the executive’s office. Request a demo today if you’re