15 Jun How Total Rewards Software Builds a Stronger Company Culture
The main purpose of total rewards software is to provide employees with a direct line of sight into all of the benefits that your company provides for them. In doing so, you’re showing your workforce the full value of employment. Yet, the advantages of total rewards software extend far beyond clarifying benefits information.
Take a look at all of the ways in which total reward statement software can positively impact your company culture, below:
- Drives Communication
Today’s executives are focused on finding ways to create a more transparent work environment. Total rewards software can help communicate accurately the economic reality of a company, which The HRIS World considers vital to driving employee motivation. By communicating precisely how compensation is broken down in terms of pay, benefits, bonuses, and more, employers will be perceived as being more forthright with their people, which will also drive trust to create a more transparent workplace.
- Attracts and Retains Top Talent
With the help of total rewards software, you can emphasize the benefits that are most important to the talent you’re trying to attract. For Millennial employees, for instance, having more time off and flexibility is critically important, according to The Savvy Intern. Find out which benefits your existing top performers and potential hires value most, and effectively communicate how your company provides these benefits with the tools provided by your total reward statement software. When the majority of your teams are made up of top industry talent, you’ll strengthen your company culture organically.
- Increases Profits
RecruitLoop calls the link between employee happiness and increased profits “irrefutable.” When employees are happier, they are more productive. To keep your employees happy, they suggest providing more flexibility through telecommuting and other methods and offering growth opportunities such as reimbursement for continuing education. If you already do these things or are considering implementing these strategies, using total rewards software to regularly deliver messages about these benefits to employees can help drive happiness and motivation to achieve better results.
Ultimately, total rewards software is a win-win for both the employer and their teams: it can facilitate a happier, more informed, and higher performing workforce and strengthen the company culture overall.
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!