Property consultant GVA Grimley decided to use total reward statements to reinforce the value of its employment package following the launch of a flexible benefits scheme.
Debbie Taggart, HR manager, says: “Flex went a long way towards helping our employees understand the true value of their remuneration packages but it is obviously very detailed so the overall value of packages is not immediately clear.
“The total reward statement takes all of these benefits and illustrates them in a simple way, so employees can quickly see how each element of their remuneration contributes to their total reward.” The company, which has 1,320 workers, splits its total reward statements into two parts: cash and benefits. “We show cash in the first section – salary, bonus and car allowance – and benefits in the second section – private medical insurance, income protection and life assurance. We then add the two sections together to show total reward,” explains Taggart Pie charts are used to illustrate the breakdown of employees’ packages.
However, when it comes to total reward, the firm sticks to traditional benefits. “We communicate elements such as the working environment via our internal HR policy, so they are not specifically outlined in our total reward statements, although they contribute to the overall picture.”