To ensure its total reward statement is effective, Experian uses interactivity to boost engagement and benefits take up.
The global data and technology firm is listed on the FTSE 100. It operates in more than 32 countries, with more than 25,000 employees, and has UK offices in London and Nottingham.
Its online total reward statement includes details of benefits such as salary, bonus and commission, share options, and employer-funded benefits including critical illness and private medical insurance. Additional benefits include life assurance cover, GP access for both employees and their family, and volunteering days.
Experian launched an interactive and illustrative total reward statement in June 2024 to allow its employees to compare their year-on-year compensation. This way, they can easily access their information through the organisation’s intranet and see how it changes, explains Rachael Kneen, chief human resource officer at Experian UK and Ireland.
To effectively deliver and present the statement, Experian built an interactive product called PayDashboard, also launched in June 2024, which offers interactive payslip information and connects to its HR and benefits websites.
“This level of interaction and connectivity means employees can access services easily and quickly understand what their benefits are,” says Kneen. ”Since we introduced the interactive total reward statement, we have seen a huge spike in usage and engagement, helped by the proactive communications to employees.”
The statement allows employees to see their adjustments over time, she adds. “On top of this, we have developed a financial wellbeing pathway, which helps employees take control of their financial health and take steps to improve it,” she explains.
“This supports with every day and long-term support and includes debt, budgeting and estate planning. Each step has supporting resources and benefits to help with financial wellbeing needs. The pathway is driven by our know-your-score wellbeing assessments and financial MOT tool, which helps staff explore where they are and potential focus areas.”
Total reward statements are a key moment for the organisation within its end-of-year communications. Throughout the year, it runs a series of benefit bite-sized videos which act as short explainers about what a benefit is and why an employee may want to use it.
“We also use case studies and real-life stories from employees, discussing how the benefit has helped them and why it was useful,” Kneen says.
