Total rewards: everything you need to know

21/12/2021 9:09 AM

Salary is important. It does not, however, convey the entire picture. In todays talent war, its critical that your staff feel valued and appreciated. And the easiest method to do it is to inform them of your entire investment.

 

People frequently allude to their pay when negotiating a job or discussing their present compensation. Unfortunately, this means theyre missing out on a sizable amount of their total reward and compensation package, including benefits, insurance, pensions, and other perks.

 

According to Benify research, 80% of employees undervalue their entire salary. Employers suffer financially on underutilised benefits due to this misinformation, and theres a higher chance that employees may leave for a job where they believe theyll be better paid.

 

Employees may see the total worth of their whole reward and compensation package, which goes beyond their wage when employers offer each employee a Total Reward Statement



Notifications

Sign up now to get updated on latest posts and relevant career opportunities