About Total Rewards

The Value of Total Rewards Statements

A Total Rewards Statement can benefit employees by providing them with a comprehensive overview of the total value of their compensation package, including both financial and non-financial benefits. This can help employees better understand and appreciate the full value of their compensation, which can increase job satisfaction and engagement. Overall, it can help employees feel more valued and supported by their employer.

Recruit, Retain, Reward, Retire

Employees consider all benefits offered by an employer, not just the expected pay, when deciding to start or leave a job. The additional benefits may range in cost and complexity, but together, they are the “Total Rewards” available to help employers to Recruit, Retain, Reward, and Retire current and potential employees.

Only 32% of employees feel like they’re paid fairly by their company

Source: Gartner Survey 2022

78% of millennials report they would like more communications about their workplace benefits

Source: Voya Survey 2021

About half of employees don’t understand their benefits, and 80% of them never open benefits communication

Source: IFEBP Survey 2022

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