Topic: TotalRewards Software

What Can Defy Gravity? Employee Attrition

Employers nowadays are going to great lengths to fight employee attrition by wooing top talent. Do they really have to go this far? And when they do – does it actually work?  A look at Gravity’s disruptive strategy to offer a minimum wage/salary of $70,000 gets creative juices flowing on what employers can do to throw money at the talent problem, but perhaps more creativity and innovation in benefits programs doesn’t always carry such a big price tag. In fact, benefits managers and HR specialists are realizing that benefits program “marketing” may have more to do with success than giving away the farm.

Read about the good, the bad and the ugly of Gravity’s groundbreaking attempt at a minimum salary.

What are other grandiose/wacky/memorable benefits programs out there? Share them with us!

Track Compensation and Usage with Executive Reporting

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?

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
Turn the "Employee Benefits Report" into the "Make-HR-Look-Good-Report"

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

Communicating Promotions and Compensation with TotalRewards

Your HR team has developed top-notch promotions, and you’re taking the steps to retain your employees with total compensation statements. But are you taking the steps to show your employees – and the executive suite – how your company is expressing that value to your team?

The Pro and Ultimate Editions of TotalRewards Builder include the Promotions feature, the tool for sending compensation and special offer email messages, providing instructions and tracking employee engagement with your HR initiatives. Here are the steps you can take to show your employees just how much they’re valued and needed:

1. Create a Welcome Message

Create a customized Welcome Message

Create a customized Welcome Message

When you first access on the Promotions tab, located in the header of the Builder platform, click on Templates. One of the messages you’ll see will be the Welcome message – your ticket to letting your employees know about their online personalized compensation and benefits statements.

Here’s how you can personalize that message with your own brand:

  1. Change the “From Email” address to one of your own.
  2. Write an exciting subject line.
  3. Frame the content of the message to better fit what you’re offering and what the HR team is trying to achieve.

You can also add login instructions to help your employees snag and review their total compensation statements quickly.

2. Create a Unique Email Promotion

Flexibility, career opportunities and water parks - promote what your employees value most.

Flexibility, career opportunities and water parks – promote what your employees value most.

3. Send Your Promotion

Once you’re ready to roll, visit the Templates section of the Promotions tab and hit Send next to the template you’d like to promote. Be sure to click the Preview button a view a test message so you catch any of those tricky typos!

Choose the promotion to send…and track its performance.

Be sure to target your messages to different employee groups. If something’s for “managers’ eyes only”, it’s not a problem. When it’s time to reward the IT team for outstanding service, send the perk to them and them alone.

4. Track Activity

You can also stay up-to-date on how your total compensation promotions are performing with the Activity tab. Under the Promotions tab, click Activity. You’ll receive a detailed report of the performance of all your messages, including the number of messages your employees have opened.

Promote Your HR Initiatives with the TotalRewards Builder

Using the TotalRewards Builder’s Promotions tool can keep your employees engaged and satisfied with your company’s total compensation offerings. Ready to try it out? Request a demo today.