18 Dec Rallying Managers to Help Raise the Perceived Value of Employee Benefits
Oftentimes, employers seek creative ways to boost the perceived value of employee benefits statements. Doing so can drive morale and improve retention. While there are many useful strategies you can use in your organization to leverage your total rewards program, it’s important first make sure that your line managers are on board with your efforts.
Managers are your greatest tool for communicating total rewards value to employees. Here are some ways you can encourage them to raise the perceived value of employee benefits to their teams:
- Link Rewards to Performance
Ask managers to identify their top performers, then consider how you can reward these individuals with above-and-beyond merit increases to show appreciation. Oftentimes, high performers are rewarded with 3% bonuses, versus average performers who may receive 2%. When an employee breaks it down and does the math, the small difference in weekly pay may not warrant the extra hours and efforts that he or she puts in. Encourage managers to help you identify these standout performers, especially those low in their salary range, then set aside a pool of money in HR to reward them fairly without impacting the manager’s budget.[Resource: Click here to learn how to integrate total rewards with your compensation planning]
- Know Your Customer
If your product is your total rewards package, then your employees are your customers. Create tools or short workshops to help managers identify which rewards are most valuable to their teams, then have them remind their employees about the available options included in your company’s total rewards package. For instance, if employees value a work/life balance most, managers should be reminding them of the work-from-home policies or other options that support flexibility to increase the perceived value of total rewards.
- Be Sensitive To Managers’ Needs
Although managers are indeed your best tool for communicating the value of total rewards to employees, they are also employees. Remember to be sensitive to their needs in terms of benefits as well. Keep in mind that managers can steer their employees to a program or pique their interest, but should not offer details or advice, especially on pension and financial benefits.
A company’s total rewards program is only as strong as its managers’ willingness to enhance communication about the program with their team members. By getting managers on board, you’ll create a dynamic strategy for increasing the perceived value of total rewards which will have far-reaching outcomes.
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