07 Apr Does Your Organization Need Total Rewards Statement Software?
Today’s HR departments are on overload, and it’s no wonder why. From communicating company policies and overseeing workplace safety, to handling recruitment designing compensation plans, the responsibilities of HR are complex but important.
One critically important HR duty is communicating total rewards. While mastering a total rewards program that’s attractive and effective is a daunting challenge itself, the significance of communicating that program to employees cannot be overlooked.
How Effectively Are You Communicating Total Rewards?
Of course, the simplest way to find out is to ask employees. You can survey them to get candid feedback regarding your rewards program communication, and you can also consider some important metrics, such as:
- Questions/complaints received regarding the rewards program
- Employee sing ups
If you’re already fairly certain that your total rewards communication could improve, you may be right. WorldatWork reports that 29% of survey respondents felt that communication is the aspect of their organization’s rewards program that needs improvement most
The Solution: Total Rewards Statement Software
One of the ways HR can make communication easier is through total rewards statement software. Effective software can simplify total rewards communication with the following features:
- A user-friendly portal through which employees can access total compensation information
- Employee polls to determine how well rewards are being communicated
- Tools such as retirement and benefits calculators
How It Helps The Company
Communicating total rewards effectively can benefit your company in a number of ways. Specifically, take a look at the following:
- Well performing companies are more likely than their competitors to consider total rewards as an area of focus
- Employees begin to develop an understanding of the cause-and-effect of their work experience (hard work positively impacts the organization’s success)
HRsoft is a leading provider of strategic talent management software that improves manager effectiveness and business results. Our full suite of cloud-based HR software solutions includes applicant tracking software, compensation planning software, total rewards software, stay interview software, performance management software, and content management software. For more information on our Total Rewards Software, REWARDview, click the button below!