Total rewards statement: Show your employees how much you care
Total Rewards Statement (TRS) is a tool that evokes a range of reactions. For some, it is an invaluable solution in the fight for employees, particularly in the context of retaining current staff. For others, it remains underappreciated. Its significance increases as it becomes more challenging to attract and retain talent.
Part I – employer perspective
From an employer's point of view, retaining employees requires increasing effort and a well-thought-out strategy. Supporting employees goes beyond just the base salary, which is an obvious component. Modern approaches also involve investing in employee development, offering a variety of benefits, and additional perks.
Benefits include, but are not limited to, private medical care, sports cards, and resources from the Company Social Benefits Fund (ZFŚS), such as grants, medical assistance, eyewear refunds, low-interest housing loans, or leisure vacations. It is also important to remember the Employee Capital Plans (PPK), which are a key element of the benefits package.
Non-material benefits include, among others, parking spaces, additional days off, or various rewards that can be given in the form of cinema tickets, sports event tickets, or discounts from company clients.
Part II – employee perspective
From an employee's perspective, compensation is mainly associated with salary and potentially bonuses, while benefits, although often offered, are rarely fully appreciated in terms of their real value.
Medical subscriptions, sports cards, or other minor rewards may be perceived as extras whose value often goes unnoticed. Only when changing jobs, when employees analyze their compensation, do they see the full picture of the benefits offered by their current employer. Awareness of these benefits can affect the perceived value of current employment and alter views on offers from other companies.
Part III – total rewards statement
The Total Rewards Statement (TRS) is a tool that provides a comprehensive and understandable presentation of the full value of employee benefits. TRS serves as a powerful employer branding tool that allows companies to accurately summarize the value of offered benefits and employee support policies.
TRS not only presents the total compensation value but also showcases the company's benefits policy, which can contribute to improved employee relations and increased satisfaction.
Part IV – total rewards statement in Nais
In Nais, the Total Rewards Statement is presented in a modern, dynamic way and is available online. The presentation structure is flexible and tailored to the needs and specifics of each company. The system ensures a simple and automatic data exchange between the company's internal systems and the Nais platform, allowing for real-time updates of values across different categories.
Automation of information exchange and a high level of data security are key elements of our offering. The dynamic Total Rewards Statement in Nais is a modern tool that supports company image building and effective communication with employees.
With an innovative approach to compensation presentation, the Total Rewards Statement in Nais will also be available on a mobile app, further facilitating employee access to information. The process of implementing TRS in Nais is quick and user-friendly, making it an ideal solution for modern organizations committed to fully presenting the value offered to employees.
