Employees are looking for more flexibility at their workplaces rather than concentrating only on salaries and benefits packages. Because of the disruption due to COVID, people want to retain flexible working hours, health benefits, and a good number of vacation days. Above all of that, workers are more serious about motivation and empathy than ever before. If you treat your employees like a part of your family, they will deliver you stellar performance and don't think of leaving your organization. You have to be flexible and bring changes in the work processes to synchronize with the changing business needs. Flexible rewards for employees help you to unlock true potential and provide a phenomenal total rewards experience. Let’s look into the Total Rewards Components that need to be revamped for a better experience. 1. Pay: Companies are becoming more flexible in providing compensation benefits and hikes in salaries. In today’s scenario, the achievement of team goals and honing
Reward statements are an underutilised yet straightforward method of helping employees quantify the benefit of your business ’ reward strategy. The following is a short guide to highlight everything you need to know about T otal Reward Statements, including what they are, why you should make use of them, and how to effectively execute them into your existing rewards strategy. What is a T otal Reward Statement? A total reward statement is a personalised document which is used to outline the rewards an employee has received from their employer over a set period of time. Total Reward Statements are designed to highlight everything that the employee has benefited from, both financially and non-financially, as part of their overall reward and employment package. For many employees, this is an extremely simple way of showing the true value of your business reward scheme. Why use a T otal Reward Statement? All employees seek fair salary packages for their work. Total Reward Stat