Employers may be wasting money on reward strategies by not communicating to staff the total value of their package.
Research from the Chartered Institute of Personnel and Development (CIPD) found that less than a fifth of companies provide total reward statements, while the majority do...
Steve Mason considers the increasing popularity of total reward statements and explains how they can take the reins when it comes to benefits strategy.
As more employers recognise the potential of the total reward statement (TRS) to communicate the scope and value of employee benefits offerings, many are also realising the opportunity to maximise their benefits budget.
Communicating the value
For some time employers have...
The value of introducing a total reward strategy
Our HR team is currently in the process of implementing total reward statements (TRSs) across the company’s head office. For this purpose, I have revisited Rachel Daly’s article, The Whole Package, featured during last year....
Cutting the cost of benefits is top of the agenda for employers, according to research from Mercer.
Due to the financial instability in 2011 many organisations are now questioning the feasibility of maintaining their workplace health schemes. Nearly 85 per cent of HR...
Employee benefits packages are one of the biggest incentives an employer can offer. Once enrolled in a scheme it is important employees are continually informed about developments and messages are reinforced. Here are some tips to help effectively do this.
Survey employees
It...
Have your say - your views are important
RTI still has an array of issues to overcome
It has been interesting to note that HM Revenue & Customs (HMRC) is now looking for a further 1,300 firms to join the pilot of Real-Time Information (RTI) from July 2012. This increase can only benefit the trial if the spread is across all sizes...
Employees want more flexibility and variety when
it comes to their benefits, according to research
from Mercer.
The findings showed that traditional elements of a package scored poorly when it came to motivation and engagement. However, those that provided a good work–...
Lisa Gregory looks at why some employee benefits are preferred over others and how the industry has changed.
Given the economic downturn of recent years, it seems timely to take stock of how employee benefits have been impacted overall and the emerging prominence of certain benefits. The landscape has undoubtedly changed, but which benefits have grown in popularity and which have become casualties of...
One size doesn’t always fit all when it comes to reward. Andy Philpott explains how organisations can shape a benefits package in order to deliver real results.
Organisations today are operating in a climate in which they need their people to perform and be engaged within the business. This is essential in order to remain competitive in the current business and economic environment.
As many firms cope with the recession, their employees work hard,...
Dawn Lewis investigates the rise of employee health and wellbeing in the workplace and how these types of benefits can have a significant role to play in engagement.
Employee health and wellbeing has not always been at the top of the workplace agenda. However, it is becoming increasingly apparent that this element of employee benefits has a significant role to play in staff engagement.
An effective wellness strategy can help to reduce any increases in...
Rachel Daly investigates the link between total reward and employee motivation, engagement and retention.
Last year (2010) saw the continuation of the recession and general economic downturn in the UK. At the most severe end of the scale, both private and public sector organisations were forced to make redundancies in a bid to save money.
Even those employers who didn’t take such drastic...
Andy Philpott explains the role of rewards in staff engagement and business performance.
In the current economic climate, motivating staff is more important than ever. Amid tightening budgets, recruitment freezes and possible redundancies, staff and channel partners may be in need of a boost to encourage them to fully engage in every aspect of the business and their role.
A reward...
Widely recognised as a contributing factor to the current economic climate, bonus payments have been a hot topic this year. For those who are thinking of implementing a bonus scheme, here are our top tips on bonus and reward.
Align with business performance
While recognising...
