From Total Compensation

Statements To A Total Rewards

SystemGuest Presenter: Christopher FordSenior Director of HR OperationsRiverbed Technology

TalentTakeawayswebinar & podcast series

AGENDAThe Series

TalentTakeawayswebinar & podcast series

Talent Takeaways Series

AGENDAAGENDA

Resource Library

Product Information

Product Tour & Demo

The Sponsor

Talent Takeaways Series

Talent Management Made for Managers

AGENDAThe Presenter

Talent Takeaways Series

From Total Compensation

Statements To A Total Rewards

SystemGuest Presenter: Christopher FordSenior Director of HR OperationsRiverbed Technology

AGENDAThe Agenda

Talent Takeaways Series

Defining Total Compensation & Total Rewards

Total Rewards: Making The Case

Total Rewards Statements

Total Rewards Systems

Cost Considerations

Case Study

From Total Compensation Statements To A Total Rewards System

AGENDADefining Total Compensation & Total Rewards

Talent Takeaways Series

Total Compensation

Total Rewards

Base Pay Bonus Equity

Medical Dental VisionRetirement Plans ESPP / ESOP Insurance, Disability, Long

Term and Short Term CareCommuter Benefits Wellness / EAP Café / Meal DiscountsDeferred Compensation Employee Discounts Vacation (PTO)Sick / Leave Policies Onsite Services (Laundry,

Automobile, Massage, Day Care, etc.)

Travel & Expense PoliciesEmployee Gift ProgramsComp

Base Pay Bonus Equity

Additional BenefitsMedical Dental Vision

AGENDADefining Total Compensation & Total Rewards

Talent Takeaways Series

Total Rewards TipReplace your offer letters with an Employee Value Proposition

AGENDATotal Rewards: Making the Case

Talent Takeaways Series

Total Rewards is a comprehensive valuation of all employee compensation, benefits and perks.

Base Pay

Bonus

Equity

Medical

Retirement

Other

$$$$$$

$$$

$$

$$

$$$

$$$

$$$ TOTAL REWARDS $$$

AGENDATotal Rewards: Making the Case

Talent Takeaways Series

Communicates a broader value proposition

Creates greater appreciation from employees and their families

Contributes to an employer of choice differentiator

The secret sauce for attracting and retaining top talent

AGENDATotal Rewards Statement

Talent Takeaways Series

Benefits• Increases Employee Engagement

• Decreases Voluntary Turnover

• Increases Retention

• Engages the Employees’ Family

Drawbacks• Annual Massive “All HR” Project

• Takes months to prepare

• Incredibly Expensive > $100K

• Out-dated before it’s delivered

Annual statement presented to employees providing a comprehensive valuation of their compensation, benefits and perks.

AGENDATotal Rewards System

Talent Takeaways Series

Benefits• Increases Employee Engagement

• Decreases Voluntary Turnover

• Increases Retention

• Engages the Employees’ Family

Additional Benefits• One-Time All HR Project

• Significantly Less Expensive

• Updated Regularly

• Greater Functionality (WAVE)

• Access to Powerful Analytics

• Low Cost Continuous Innovation

Annual statement presented to employees providing a comprehensive valuation of their compensation, benefits and perks.

AGENDATotal Rewards System

Talent Takeaways Series

Every company’s cost for a Total Reward Statement or System is different based on several factors:

Company Size Global vs. Domestic Language Differentiation

Content Features Branding

Audience Differentiation Team / Resources Vendor(s)

AGENDATotal Rewards System

Talent Takeaways Series

Sample Cost Comparison

AGENDATotal Rewards System Tips

Talent Takeaways Series

What are the considerations for an effective Total Reward System?

PurposefulIntent

Branding

Core ValuesConnection

Simplicity

DomesticFirst

FrequencyTeam

Vendor

ChangeManagement

Architecture

AGENDATotal Rewards Case Study

Talent Takeaways Series

THE CHALLENGEFinancial Services Company already using Total Rewards Statements Large Annual Project HR Project Team Hated the project! Employees didn’t provide + or - feedback Felt Like An Expensive waste of time

THE SOLUTIONAlready working with HRsoft on a Merit Compensation System They shared the Total Rewards System Solution We implemented the solution on time for less than the Total Rewards

Statement We received positive feedback from the CEO, Management Team and

employees We expanded the use of the Total Rewards System for “Stay Conversations”

and better employee branding

AGENDAThe Clear Choice

Talent Takeaways Series

1. Total Rewards presents a better value proposition than Total Compensation

2. Total Rewards Systems offer significantly more advantages than Total Rewards Statements Approximately 30% Lower Cost Over Time One-Time All HR Project vs. Annually Updated Regularly Greater Functionality (WAVE) Access to Powerful Analytics Low Cost Continuous Innovation

3. Choosing To Implement A Total Rewards System is the Clear Choice for the Future

AGENDAQuick Take-Aways

Talent Takeaways Series

Things to consider when considering a Total Rewards System

1. Be purposeful with your intent. What opportunity are you looking to achieve? Employee Branding, Lower Cost, Better Service, Improved Retention, etc. Tie it to company objectives (Attract & Retain Top Talent, Culture / Branding

Initiatives)

2. Keep it simple! Start Small / Less Complex and expand from there Domestic first

Consider where your largest employee populations are Consider what impact and/or outcome you want to achieve with that population

Choose features that are easy to monetize Pay, Bonuses, Equity, Retirement, All Benefits with Employer Contribution,

Employee Gifts, Commuter Benefits, Meal Programs, Discount Programs Choose a manageable update frequency (real-time, weekly, monthly, quarterly) Use Good Change Management. Make it a big deal Consider easy access by employees and/or their family (mobile device enabled)

AGENDAQuick Take-Aways

Talent Takeaways Series

Things to consider when considering a Total Rewards System

3. Build the right team Compensation (Total Rewards), HRIS, Benefits, HR Business Partners, Payroll,

Marketing, IT, Vendor Have an Executive Sponsor (Head of HR) Have a Project Manager Involvement / Endorsement from the CEO and Executive Staff

AGENDAQuick Take-Aways

Talent Takeaways Series

Things to consider when considering a Total Rewards System4. Systems Architecture is a key consideration

Work with your vendor, HRIS and IT on the best overall architectural design. There are many options

Two common approaches are: Data Warehouse Approach Point to Point Approach

AGENDAQ & a

Talent Takeaways Series

Live Q&A

AGENDAAGENDAResources & Support

Talent Takeaways Series

Resource Library

Product Information

Product Tour & Demo

HRsoft.com

The Total Rewards Solution

Talent Takeaways Series