Why Total Rewards Statements Are Key to Employee Engagement

Employee engagement is always a hot topic, regardless of the overall condition of the labor market. In a tight labor market, where it’s harder to hire and retain talent, employers worry about not being able to find enough workers to support continued growth. But even during periods of higher unemployment, organizations still want to hold on to their most critical and productive employees.

Employers use a wide range of strategies to drive engagement—from employee recognition programs to investing in career growth to fostering a unique corporate culture. While these are all important and necessary, it’s essential not to overlook the fundamentals.

The fundamentals, when it comes to employment, are pay and benefits.

Employee surveys consistently show that pay and benefits rank among the top drivers of job satisfaction. So while employers must prioritize offering market-competitive compensation and comprehensive benefits, they also need to ensure that employees understand and appreciate the value of what they’re receiving.

One of the most effective ways to educate employees about their pay and benefits is through total rewards statements.

Think of total rewards statements as the foundation of employee engagement efforts. Without a strong total rewards base, other elements of an engagement strategy risk falling flat. Building a strong culture is important—but so is investing directly in individual employees and clearly communicating the value of those investments.

Contact us today to learn more about how RewardsFocus can help your organization make total rewards communications a foundational piece of your overall employee engagement strategy.