National Grid has extended its total reward statements (TRS) internationally, rolling them out for 6,000 US staff.
It has also relaunched the statements for its 10,000 UK employees.
The total reward statements include information on all aspects of the organisation’s reward package. The relaunch has added more details about its share plans and – in the UK – pension costs.
Helen Ratcliffe, National Grid global compensation and benefits adviser, said: “We wanted to create a new look and feel for this important communication to our employees and are very pleased with the result.”
Following the launch at the end of March, all National Grid employees were asked for feedback through a follow-up questionnaire. The results will contribute to future relaunches of the statements, which will take place annually. The timing will tie in with the company’s renewal of its flexible benefits package and as a precursor to the annual pay review.
National Grid is now considering extending total reward statements to all 17,000 of its US employees. Ratcliffe added: “The statements have revived a communication channel that has not been used in recent years.”