Effectively communicate to your current and future employees the total value of the compensation and benefits you provide with a total rewards statement and realize better employee engagement and performance.
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Recruiting, engaging and retaining talent in today’s wide-open job market just got tougher: 70% of workers say they’re motivated by more than their salary. This presents a new challenge to HR specialists wearing the human capital management hats.
If employees are valuing different things at work, their total compensation statement should reflect this. For the HR team, it’s no longer a question of relaying an employee’s total rewards – it’s a question of communicating the rewards workers value the most. To answer that, HR professionals need to swap hats with their marketing team and envision a total rewards marketing solution.
With reports that seven out of ten employees aren’t engaged at work, evidence is mounting to show that a modern company’s fight to engage and retain employees starts in HR – and exhibits A, B and C do even more to add to that fact:
Only 30% of employees are motivated by money
A stronger economy means there’s growing competition for talented workers
Millennials, who will soon be the majority in the global workforce, expect shorter job stints and clearer value communication
While HR professionals see these challenges in living color and know that a centralized total rewards statement is the best remedy, executives may not. It’s up to HR to build a case for it. Luckily, we’ve developed a PowerPoint that will not only help HR professionals build their case for why a total rewards solution can help, but also super charge its impact so executives will have no choice but to be convinced. Take a quick look to see how the ideas in our PowerPoint can help you start prepping your total rewards software case to deliver maximum impact.
Today’s burgeoning job market favors job-seekers, increasing the need for employers to recruit, retain and engage employees. Due out now, our new TotalRewards Software statement solution enables companies of all sizes to do just that by giving them the tools to make employee value fully transparent and accessible – which has benefits for both employees and employers. Read our full press release here.
More than being an upgrade from the original total compensation application, our new total rewards statement platform is the result of keeping an ear to the grindstone of evolving employee expectations to see their total value expressed in more than just dollars and cents. But, as much as our new total compensation statement solution has to offer employees, it has just as much to offer employers, namely improved analytics so execs and managers can better market their total rewards programs and track ROI.