19 Dec 14 Things to Consider for Your Total Rewards Communication Strategy
Communicating Total Rewards (TR) to your employees is essential for helping them to understand all the ways in which they are valued. While your company’s strategy may differ from the next due to your unique corporate culture and processes, there are a few considerations that every business leader might want to note:
- Setting Goals. Clearly convey why the TR Communication is in place: to easily and directly show the full value of employment, enhance engagement, and give associates a convenient, useful resource.
- Choosing The Components. Determine the logical categories of rewards. Then, select the specific items within each category: Compensation, Incentive Pay, Retirement Savings, Health Benefits, Continuing Education, Charitable Giving, Work-Life Benefits, etc.
- Design. After the right data elements and categories are selected for presentation, the next step is to come up with the design and layout of the statement or web site.
- Messaging. Broader messages may be included on the statements or the online site to reinforce associates’ value.
- Assumptions/Disclaimers. Some employers list the assumptions associated with values appearing on statements and certain disclaimers. Such disclaimers might state the time periods for certain elements.
- External Links. Determine which external links you’ll include. For instance, a link may be included to bring employees directly to the company's 401(k), health benefits plan administrator, or government website.
- Importing HRIS Data. Importing data from the employer's System of Record – HRIS – is a key step when implementing an online TR Communication system. This usually lists each employee’s demographic data and details associated with their role.
- Data Feeds & Interfaces. In some cases, an interface with a 3rd Party Vendor is used to bring data into the system. Examples of vendors include: 401(k) Plan Sponsors, Health and Welfare Plan Administrators, Equity Award Managers, and other Benefits Providers.
- Testing. Make sure all of the data is presented properly and the site is error-free before going live. Examine the usability, design, navigation and all other aspects of the TR Communication.
- Promotion. Communicate with associates about the launch of the Total Rewards Communication and remind associates of its value. Use newsletters, flyers, etc.
- Branding. Give the statement or site a name so everyone can refer to it in the same way. “Total Rewards Statement” is too bland.
- Fresh Content. If you are using an online TR Communication, include videos, images, and polls about relevant subjects (and then share the results.) Calculators and modeling tools can be appealing to associates.
- Analytics. Monitor traffic to the site to get a feel for what is working. Ask associates and managers for feedback.
- Ensure Security & Confidentiality. Make sure you’re using a reliable system that’s 100% secure.
While you may not need to incorporate every element of the communication strategy listed above, these considerations may help you keep total rewards statements clear for employees while making the process of accessing them engaging and interesting.
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