New and Improved Total Reward Statements

We're very excited to announce a new and improved setup and administration process for your Total Reward Statement (TRS).

We've listened to your feedback, and we appreciate that your current process is very manually intensive and collates offline data from multiple providers with online information on the portal. Many of you are only updating the TRS annually, or worse, not at all because of the administration involved in its' upkeep. Therefore, we've made some improvements to remove as much of the manual administration as possible, with more to come in the future to automate it fully, but let's talk about what we have available today...

Utilising the recent addition of employer costs, you will now provide us with how the cost of the benefit is worked out per person and we will setup a calculation to work out the cost per person for you. We add these to the selectable benefits that employees have access to either all year round or in selection windows, and once the employees check out these benefits, they will show the employer costs on the TRS.

If the benefits should be autocompleted, i.e. the employees get them by default and shouldn't have to check them out to be seen on the TRS, then you can just bulk select employees and tick to say they have that benefit already - in seconds it'll then work out the costs based on the calculation we have setup with you and appear on their TRS.

Improvements:

• Time saved filling in spreadsheets
  • You tell us how the benefit costs are worked out, the system will do the rest
• Automatic updating of costs
  • When a cost changes on a benefit, you tell us and we'll change the calculation and with one simple click we'll also recalculate the costs and the TRS will update
  • When an employee's salary changes, you can trigger to recalculate costs on benefits where salaries affect costs; like Pension.
• Ability to add TRS for new joiners
  • No need to sit and work out the cost for the new employee, you can come and simply tick which benefits the employee has and at which levels, then their TRS is created instantly