With the unemployment rate in the United States recently under 4%, employers are dealing with two difficult challenges – attracting new employees and retaining the ones they already have.
Workers are in the best position they have been in for several years, so employers need to step up their game in order to remain competitive.
The most important way for employers to remain competitive is, of course, to provide employees with a strong total rewards package. Unfortunately, employees often lack a comprehensive understanding of the many elements of their total compensation, which can be quite costly to employers in terms of retention, motivation, engagement, and satisfaction.
To stay ahead of the curve, employers not only need to offer a competitive total rewards package but also put in place an effective total rewards communications strategy. A total rewards statement should be the cornerstone of any communications strategy.
This white paper highlights trends and best practices in total rewards communications and provides helpful ideas regarding content, design, timing and other important factors.