The Travis Perkins Group has piloted total reward statements (TRS) to 2,000 of its management and executive employees in an attempt to better communicate its overall remuneration package and make the firm more effective at recruitment and retention.
The TRS, which were designed and managed internally rather than through a consultancy or external provider, were sent out to staff in August.
The Travis Perkins Group which includes companies such as Travis Perkins and Wickes, is made up of a 16,000-strong workforce, and is hoping to roll out more TRS in the autumn of next year.
Claire Williams, group reward manager, said: “Although challenging, it was profitable to do this ourselves. Feedback has been extremely positive and individuals within the company have commented on how easy the statement is to understand and how it helps them to recognise the value of their package.”
The TRS will remain in a paper format to make them accessible to all staff in the organisation, including those who do not have access to a computer.