Build a Total Rewards Statement
Summarize the value of the organization’s Total Rewards offering.
- A Total Rewards statement summarizes the value of the organization’s Total Rewards offering, personalized for each employee. Yet many organizations don’t take advantage of this form of communication.
- It's not enough to simply provide employees with Total Rewards (TR) statements – employees must actively review and understand them. HR needs to partner with managers to TR statements live up to their promise.
Our Advice
Critical Insight
- Use TR statements to develop or reinforce the employee value proposition (EVP). Remind employees that they receive more than just a salary.
- Increase awareness and understanding of the various items of the Total Rewards offering. Enable employees to make informed comparisons against competitor offerings.
- Improve pay transparency by helping managers conduct effective pay conversations with employees.
Impact and Result
- Greater employee awareness and understanding of the entire value of their Total Rewards package, reinforcing the EVP.
- Improved pay conversations between employees and managers, ensuring the right message gets across.
Build a Total Rewards Statement Research & Tools
1. Identify items to include and audit Total Rewards data
Determine items of the Total Rewards package that can be included in the statement, given data availability and quality.
2. Design the Total Rewards statement
Create a statement that effectively communicates the value of the Total Rewards offering.
3. Distribute and obtain feedback
Identify the most effective way to distribute and obtain feedback on the Total Rewards statements.
About McLean & Company
McLean & Company is an HR research and advisory firm providing practical solutions to human resources challenges via executable research, tools, diagnostics, and advisory services that have a clear and measurable impact on your business.
What Is a Blueprint?
A blueprint is designed to be a roadmap, containing a methodology and the tools and templates you need to solve your HR problems.
Each blueprint can be accompanied by a Guided Implementation that provides you access to our world-class analysts to help you get through the project.
Need Extra Help?
Speak With An Analyst
Get the help you need in this 1-phase advisory process. You'll receive 1 touchpoints with our researchers, all included in your membership.
- Call #1 - Discuss the most effective way to summarize the value of the organization’s Total Rewards offering and to distribute the statements.
Evolve Pay for Performance
Conduct a Salary Assessment
Equip Managers to Conduct Effective Pay Conversations
Build a Total Rewards Statement