How to use TRS to boost employee engagement

‘All you need is love.’

As we live and breathe what is the wonderful world of employee benefits, that phrase is certainly true.

And in a candidate-driven market, employees need to know that you care, and that you don’t simply see them as another cog in the wheel that is your business.

But how do you prove that there’s more to an employee’s benefit package than just their salary? Enter the Total Reward Statement.

With competition for the best talent, if you don’t show your employees how much you value them, someone else will. Our unique Total Reward Statement, or TRS for those that love an acronym, helps employees understand the full value of their benefits package.

It provides a simple, clear and informative 360-degree view of the employee’s complete reward and remuneration package. The bonuses they have, the impact of their selected benefits on their salary. With both a visual and table presentation of the TRS, they can see everything in a way that suits them.

And the good news? It’s updated in real-time.

Picture the scene.

You’ve implemented a brand-spanking new benefits platform. It’s designed perfectly, matches your employer brand and easier than a walk in the park to navigate.

It’s jam-packed with benefits designed for your employees. The only problem is, they don’t know what benefits are available and how the selections impact their salary.

In order to champion your offering and educate, it’s all about employee engagement, and having everyone moving to the same beat.

Employee engagement goes beyond your stereotypical benefits administration. It breaks away from the one-size-fits all approach, and in today’s benefits landscape, requires a touch of personalisation so that each and every employee feels like their package is specific to them.

After all, our research shows that 65% of employees would access their benefits more if they were better suited to their individual needs, with 32% of employees saying they were less likely to use the benefits on offer as a result of poor user experience.

By recognising and addressing each employee’s unique needs, you’ll be able to unlock their full potential and build a deeper level of engagement. Remember, good employee engagement ultimately has a positive impact on business growth, innovation and productivity. Most importantly, it also helps your talent attraction and retention, a key, and perhaps the main, reason employers offer benefits.

While there are plenty of ins and outs regarding engagement around your whole scheme, and ultimately employee retention and attraction, for the sake of this blog we’ll focus on TRS.

Imagine a world where the full value of your employment package is shown in one place, with a full breakdown of each individual expense. What a time to be alive!

It’s one thing to have a wonderful tool like the TRS, but it’s another to shout from the rooftops and ensure your colleagues interact with it. It has to be more than numbers on a piece of paper. It has to make a remuneration package come to life.

So how have we done this to ensure TRS boosts employee engagement?

• Forget boring old pie charts! By making everything more visual, our fresh approach to Total Reward Statements makes the value of an employee’s benefits pop!
• We integrate the branding and tone of voice you want to ensure your TRS matches the rest of your Zest platform.
• By inviting everyone to the party – employees can see every aspect of their overall package in once place, and how their package is broken down.
• By making your TRS reactive, we ensure any changes an employee makes will instantly be shown in their TRS.
• By going back to the future, employees will see how their benefits have changed over time and the impact their new selections will make going forward.
• We also make accessing important additional information about each benefit an absolute breeze. Remember, everything your employees need is all in one place.

Our TRS will highlight the monetary values of your employees’ package, and the deductions that take place from their basic gross salary over a monthly or annual period.

If that’s not enough to drive conversation and build excitement internally, then what is?

What’s more, it’s now easier than ever for employees to navigate Zest’s TRS platform.

Your employee can choose what date to select (the default will be the current date) from the date picker and click “View”. The employee may want to look at their statement from a date in the past, or look at a future date when they know benefits and/or salary values may change.

By default, the employee will initially see the ‘Visual’ view, the employee can toggle to the “Table” view or vice versa by selecting the appropriate button from the top right hand corner.

The financial details of the statement will be obscured from view upon any initial load of the page for privacy. Selecting “Reveal Financial Details” will unhide all the statement values.

You bet we can! With our technology, we are championing a new era of employee engagement, helping organisations recognise that engagement is not a on-time effort but an ongoing, continuous process.

With an NPS of +82, we’re proud to support over 500 customers, making employee engagement one of our top priorities, including a more compelling visual of employee’s benefits offering via our TRS function.

If you would like to speak to us about how we can support your organisation to turbo charge a personalised employee experience through Benefits Technology, please do get in touch.