Major multinationals still struggle to engage employees with their reward packages, and to communicate the value of these, according to a survey of 300 HR professionals by benefits provider Thomsons Online Benefits. Almost 60% of those questioned said that a lack of understanding amongst employees of the true value of total reward was a significant challenge. However, there is room for improvement as only 9% of employers offer total reward statements in all operations and just over half do not provide statements in any part of the business.
Chris Bruce, founder and Managing Director of Thomsons Online Benefits, said:
‘Businesses cannot underestimate the importance of clear, accessible HR and benefits communications. We are now in the digital age; millennials, and soon Generation Z, particularly those with high technical proficiency, are becoming the dominant force in our workplaces. The demand for high quality millennials far outstrips supply, meaning the power is now in their hands. It’s imperative that businesses consider their needs alongside all other generations if they are to attract, retain and develop their talent. Employees are not going to sit around and negotiate with clumsy interfaces once a year to find out what they can receive from their employer. They want HR and benefits systems that are employee centric: intuitive, visually appealing and communicate their options in a way that suits them – be this by text, YouTube or even Blippar. Employees are used to consumer grade technology – anything less is frustrating, disengaging, and fundamentally - pushing them out of the door.’