Over the last 10-12 years, Total Reward Statements (TRS) have become the norm in the UK as a means of communicating the true value of an employee’s reward and benefits package. Along with the anticipated financial difficulties ahead, we’re expecting to see a reduction in salary increases and bonuses, so employers are placing real emphasis on the whole package (and what that can mean for the individual employee) as an effective recruitment and retention tool. According to our customers, it’s essential that employees understand their total reward over the next few years as the true cost of Covid-19 takes effect.
With that in mind, you may want to ensure that your employees outside the UK also receive the same insight into their total compensation and don’t just jump ship for a ‘more attractive’ salary.
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