Overview
Reward Gateway’s Total Reward Statements are a powerful way to help employees understand their complete reward package and drive employee benefits uptake, with little or no admin effort.
Our flexible and customizable Total Reward Statements (TRS) help HR and payroll administrators save time with automated calculations to create an accurate and clear Total Reward Statement, each and every time. Plus, employees can access it at any time without having to rely on HR teams.
The Reward Gateway Total Reward Statement could cover any benefits a client wants to include both run through Reward Gateway or internally (through another provider i.e. bonuses, additional allowances, gifts etc).
Any benefits that are managed on the Reward Gateway platform (payroll and salary sacrifice benefits, discounts, R&R) could be enabled on the TRS by default.
The relevant information (applications amounts, savings, number of awards etc) would be pulled automatically from the system.
See the value of benefits at-a-glance
For all Salary Sacrifice and Net Salary deduction benefits that clients have trusted us with already, we’ll calculate and display the full details and value for employers and their employees. For benefits not provided by Reward Gateway, clients can upload the relevant data from the provider and we'll display those, too.
We make it easy for every employee to quickly understand the monetary importance of the benefits they have already applied for and get a closer look at what’s still available to them in the future.
Tailor benefit details to reflect company language
Clients can make the benefits terminology and tone of voice used on their Total Reward Statements consistent with that used across their employee engagement program. We provide complete control over the name and description of each benefit listed within the TRS so it’s unique to the client's reward strategy.
Adding company-related images for each TRS section to align with brand identity, also has a great effect on usage.
Upload additional benefit information for a full picture
The right statement needs to include details for benefits hosted by Reward Gateway, but also those that are managed somewhere else. That's why we provide the option to upload details for externally-hosted benefits via our straightforward TRS upload tool.
Include non-monetary benefits
The best benefits packages are the ones that combine both monetary and non-monetary benefits, and address the employee experience at (and even outside of) work. That’s why our Total Reward Statement taps into how employers support financial and mental wellbeing with options to display benefits such as flexible working or “bring your pet to work” days!
What kind of values could be displayed for the benefits?
A client can decide whether to display any values at all for a benefit as well as whether the values should be displayed as figures in case the benefit is monetary, numbers or plain text. The values could also be fixed (the same for all employees like a fixed Christmas bonus for example) or dynamic (if each user would have a different allowance for a particular benefit).
We’d require a TRS employee data upload for all benefits that values are set up to be dynamic.
Product accessibility
The TRS product supports segmentation, so all clients would be able to segment the group of users that should be able to access their statements.
The individual categories and benefits of the TRS can also be segmented. This will allow admins to decide whether to hide a whole category for a particular group of employees (if the benefits included are not relevant to that group). Admins can also choose an individual benefit to segment out of the statement (i.e. if a certain group of employees is not eligible for it).
Access on any device and get real-time data
Employees can view the full display of their benefits on any device once they have access to their benefits platform accounts, whether on their desktop, tablet, or smartphone.
What's more, the data for any benefits run through Reward Gateway would be displayed in real-time as it gets updated automatically. The frequency of the other benefits’ amounts and values updates would depend on the client’s preferences and how often they wish to refresh the statements.
To Sum Up
- Categorization: Think of the full benefits package and consider categorizing the benefits into different sections - e.g. Salary and bonuses, Salary Sacrifice benefits , etc
- Non- monetary benefits: Don't miss out any non-monetary benefits that are often overlooked e.g. "Bring your pet to work policy", "Volunteering days", "Stop smoking assistance programme" etc
- Segmentation: Consider any differences to the benefits different groups of employees have access to - e.g For the option for employees to trade annual leave, are there any divisions or departments where this is not an available option?
- External benefits: Think of any benefits run outside of RG and if any data needs to be collected from the respective provider.
- Data provision: Consider if there is any additional data that needs to be collected and provided to RG - e.g. Overtime payments to employees- this could be added to the details provided via membership upload or separately uploaded to TRS directly. In any case, our Implementation and Support teams will be able to provide guidance on the data provision options, format, and next steps.
- Focus on what's most valuable for employees: It's easy to get distracted when thinking of tens of benefits so don't forget to focus on what's of biggest value and interest to your employees and make sure there is enough information and details provided on these points.
Availability & Cost
Reward Gateway's Total Reward Statement is a chargeable product available to clients globally.*
*If a client has different platforms in different locations (UK, AUS, US) TRS would need to be enabled separately on each platform in order to show the relevant currency.
More information
For Total Reward Statement pricing or activation inquiries, our Consultants, Account Managers, and Client Success Managers are here to help. Send us a message and we’ll respond within 24 hours.
Useful Links
For more information, see Total Reward Statement | How to: Set up and manage Dynamic TRS.