TOTAL REWARD
Total reward statements are a hit at international property company
International property advisor DTZ Debenham Tie Leung has launched total reward statements to over 1,300 UK staff to raise employee awareness of the value of their benefits package.
Mercer Human Resource Consulting was appointed to help improve employees' appreciation of their total reward package, and to reinforce DTZ's position as an "employer of choice" in the property sector. All too often, staff significantly underestimate investment in staff benefits, such as a company pension, healthcare and life insurance.
Mercer produced the total reward statements, detailing the value of salary, bonuses, long-term incentives and benefits for each employee. The first statements were sent out in July 2003 and feedback has now been collated.
Will Rayden, group compensation and benefits manager at DTZ, said: "We were confident the statements would be well received by employees. The positive response is very pleasing."
According to the feedback, 94% of respondents thought their statements were useful and informative, while over half (54%) discovered they received benefits they did not even know about.
A final word
"Our employees can now see from their reward statement how much the company is actually investing in them. We're confident that these statements will help us retain and motivate our staff. This has definitely been a very worthwhile exercise." -- Will Rayden, group compensation and benefits manager, DTZ.
Want to know more?
For more information, contact Will Rayden, group compensation and benefits manager, email: will.rayden@dtz.com
DTZ is a leading global real estate services company, employing over 6,500 staff at 125 offices in 33 countries worldwide. It is independently ranked among the leading real estate advisory firms in every local market in which it operates. For more details visit www.dtz.com
Mercer Human Resource Consulting is the "largest consulting firm of its type in the UK, helping organisations create business value through their people". It employs over 3,000 staff in 17 office locations in the UK. To find out more visit www.mercerhr.com
Posted 21 November 2003