Did you know that you can promote your existing Total Rewards program to improve retention?
According to the National Economic Council, private sector jobs are now recovered to pre-pandemic levels, so employee retention is key right now.
The Total Rewards Statement addresses the question, "What is the true value of working here?"
It is a single, secure place for employees to review information about:
- Pay
- Bonuses
- Health benefits
- Health and dependent care reimbursement accounts (FSA)
- Cash balance and 401(k) plans
- Stock options purchase (ESPP)
- And more
Promoting Total Rewards
Most companies use a combination of media to reach their employees. Using online, print, voice, and in-person communications ensures that your message reaches everyone.
Leverage your organization’s existing communication channels to endorse the Total Rewards Statement.
- Broadcast voicemail
- Company-wide webinars
- E-mail
- Internal social media
- Links on the employee intranet
- Online newsletters
- PowerPoint presentations
You can also work with your marketing group to create print items such as brochures and newsletters. Posters, contests, and giveaways of themed promotional items can make the Total Rewards Statement launch fun and engaging.
Posters
Posters can be a fun way to reinforce the Total Rewards Statement value messages that you will be relaying in launch emails and presentations. Display them in all of the public spaces where your employees gather both formally and informally:
- Break rooms
- Conference rooms
- Cafeterias
- Parking garages
- Field HR offices
Voicemail Blasts
On the day before the Total Rewards Statement launch, consider having a voicemail from your CEO—reinforcing the excitement and value of the statement—sent to all employees. It will demonstrate how important the project is to the organization (and HR) by providing employees with a new resource. Be sure to have the CEO give the message a “personal spin” to differentiate it from the other marketing pieces.
Also consider a short “blurb” on the Total Rewards Statement in HR Service Center voicemail greetings.
Direct Mail to Home and/or Office
Repurpose the pre-launch and launch e-mails provided in the Total Rewards Statement marketing kit for direct mail to each employee’s home or office mail stop.
Contests, Giveaways and Benefit Fairs
Consider conducting a Site Launch Lottery for driving employees to the site to register to win a gift such as a company logo T-shirt or hat, a gift certificate, or an evening out care of the organization.
The Site Launch Lottery provides employees with an additional incentive to log into the Total Rewards Statement and generates excitement about the new online tool.
The “First Ten to Answer” is a Total Rewards Statement “scavenger hunt” for compensation and work/life information found in the statement. Employees look for information on the Total Rewards Statement site in order to win a prize. Many organizations offer a prize to more than one winner to increase participation. This contest can be used as a part of the initial launch of Total Rewards Statement or as part of an ongoing marketing plan to keep usage high.
- Total Rewards Virtual Fair
If an on-site or live Total Rewards Fair is not an option, offer employees an opportunity to participate in a Total Rewards Virtual Fair. Set up a specific time during work hours for employees to explore the Total Rewards Statement. With sanctioned time away from work (for example 1 p.m. – 2 p.m. on a specific Friday afternoon), employees can take time to review the Total Rewards Statement and its features—and they will stay engaged in the solutions that HR is bringing to them.
Total Rewards Throughout the Year
Your HR team can implement a year-round calendar of seasonal ideas for communicating the Total Rewards Statement's value to your workforce.
Providing "before" and "after" Total Rewards Statements to employees after a role transfer or promotion illustrates how their rewards have improved or changed.
Ongoing communication gives employees a reason to come back and view their Total Rewards Statements again and again.
Sample message(s)
Do you know the true value of your total compensation? To figure it out, you could pull out your last paycheck stub, track down your most recent benefits confirmation sheet, dig out your annual employee stock participation statement, look at the printed statement to find your 401(k) details, and determine a dollar value for other items like vacation and holidays. Then find a calculator and try to add it all up.
The real value of all the rewards you enjoy as a [Insert Company Name] employee might surprise you. Your total compensation includes not only your pay and core benefits–but much more!
Your Total Rewards Statement will help you understand the total value of the investments we make in you—including the value of your company-subsidized healthcare plans, employee stock purchase plan, the company’s contributions to your 401(k) account, flexible spending accounts, paid vacations and holidays, and other benefits.
- Understand and Grow Your Assets
Your [Total Rewards Statement] is personalized and will be updated [Insert Update Frequency] The statement gives you online access to personalized information about the value of your pay, benefits, retirement accounts and other rewards.
From your desktop, you can quickly and easily view and print your Total Rewards Statement. To make your statement easy to use and understand, dozens of details are categorized among [Insert Number] web pages. You’ll find all the basics on the Home and Summary pages. You will find more detailed information on subsequent pages. Your Total Rewards Statement also contains relevant links and plenty of supporting explanation.
Want to grow your assets? You can learn how to make the most of your opportunities for tax-free savings by modeling the additional savings you could obtain by increasing your 401(k) contributions. You can also model savings from contributions to Health Care and Dependent Care Spending Accounts. You can even model the potential value of your unvested stock options and view the details of the company stock purchase plan as well! All the information you need to make the most of these programs and benefits is now available online, in one user-friendly format.
- Online Information Available 24/7
On [Insert Date], you’ll receive an email message from HR to let you know when your Total Rewards Statement is ready to view. Please spend a few minutes to visit your own Total Rewards Statement online. It’s like a one-stop shop for accurate details of the dollars and benefits you receive from [Insert Company Name]. And remember that your statement will be updated [Insert Update Frequency]–so check back regularly to see how your assets are growing.
For questions or more information, contact your HRSD Customer Success Manager.
