Reward

Your Total Rewards Statement Software

REWARD stands out as the ideal solution for crafting visually appealing and effective statements that comprehensively showcase each employee's total compensation, including salary, incentives, and benefit packages. This tool is specifically designed to simplify and enhance the process of communicating the full scope of benefits to employees, ensuring clarity, engagement, and effective salary plan communication.

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Schedule a Demo

Streamlined Communication for Reward Roll-Out and Compensation Planning

Send emails to employees both before and during the rollout of reward statements, ensuring effective communication and smooth transition throughout the process. This approach is crucial for integrating compensation planning software and talent management software strategies, enhancing the understanding and appreciation of direct compensation, sales compensation structure, and incentive compensation elements within an organization.

Maximize Understanding of Total Compensation and Benefit Packages

Educate your employees about the full value proposition of their compensation package, including elements such as cash compensation, health insurance, and short and long-term incentives, for a comprehensive understanding of the total benefits offered. This educational approach is integral to compensation analysis and salary disclosure, helping employees fully appreciate the intricacies of their LTI compensation and overall compensation strategy.

Schedule a Demo
Schedule a Demo

Enhanced Tracking of Compensation Engagement and Analysis

Track the views and viewers of compensation statements, alongside tools to visualize compensation roll-up and program participation, providing valuable insights into employee engagement with their compensation packages. This functionality is essential for thorough compensation analysis and management, offering a clear picture of how employees interact with different aspects of their compensation, from direct compensation to incentive compensation plans.

SEEING IS BELIEVING

Are your employees aware of all the benefits your organization provides? With increasing housing and healthcare expenses affecting your staff annually, effective communication about your employee value proposition is key to fostering a satisfied, efficient workforce and drawing in the best talent. Imagine managing intricate incentive schemes without being overwhelmed by spreadsheets for short-term plans. Picture having a multi-factor bonus system that allows you to distribute your incentive pools precisely as required. Rather than hoping your employees grasp their total compensation, take proactive steps to demonstrate it to them. Create a lasting impact with customized, branded total reward statements.

Are You Ready to Get Pay Right?
Schedule your personalized demo
Discover the full potential of our solution. Book a demo call today to explore its wide-ranging capabilities, including:
  • How to create salary structures
  • How to conduct pay equity audits
  • How to design incentive programs
  • How to price jobs using our market data
  • How to simplify compensation management
... and much more!
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Discover the full potential of our solution. Book a demo call today to explore its wide-ranging capabilities, including:
  • How to create salary structures
  • How to conduct pay equity audits
  • How to design incentive programs
  • How to price jobs using our market data
  • How to simplify compensation management
... and much more!

By clicking this button, you consent to receiving communications from Salary.com about our products and services. In doing so, you also consent to our Terms of Use and Privacy Policy. You can unsubscribe via email at any time or by visiting our preference center.

Insights You Need to Get It Right

The latest research, expert advice, and compensation best practices all in one place.

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G2 Leader in Compensation Management Report

G2 Leader in Compensation Management Report

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Why Excel is Not the Answer for Compensation Analytics

Why Excel is Not the Answer for Compensation Analytics

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Example Total Rewards Statement

Example Total Rewards Statement

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Designing a Comprehensive Compensation Plan

Designing a Comprehensive Compensation Plan
See More Resources

Frequently Asked Questions

What Is a Compensation Plan?

A compensation plan includes a company's set of guidelines for delivering employees' base pay, bonuses, and equity. A well-designed compensation plan may also provide a strategy for future company goals around employee compensation. A compensation plan is a key element of your overall HR and recruitment strategy. It is also key in attracting and retaining top talent.

What Is an Example of a Compensation Plan?

Base salary.

Commission structure tied to sales performance.

Bonuses for exceeding targets.

Benefits like health insurance, retirement contributions, and professional development opportunities.

Offer performance incentives.

What Does a Good Compensation Plan Include?

A good compensation plan includes a clear salary structure, competitive pay aligned with market rates, performance-based incentives, benefits packages, and opportunities for career growth. It should also address pay equity, internal fairness, and compliance with legal requirements while offering flexibility to adapt to business and employee needs.

What Is the Compensation Planning Process?

A thorough compensation planning process will involve:

  • Doing a job architecture and analysis.
  • Benchmarking salary data and market pricing.
  • Employee performance evaluation.
  • Developing a compensation strategy.
  • Communicating the plan with employees within the organization.
  • Monitoring and adjusting the plan.

How to Develop a Compensation Plan?

Start by determining your compensation philosophy.

Outline the job architecture by defining roles and levels at your company.

Create guidelines for employee performance evaluations.

Define direct compensation (salary, bonus, and equity).

Define indirect compensation like benefits.

Consider internal and external pay equity.

How to Design a Successful Compensation Planning Strategy?

To design a successful compensation planning strategy, start by aligning it with your organization's goals and budget. Conduct market research to ensure competitive pay, define clear salary structures, and integrate pay-for-performance elements. Utilize compensation management software to streamline planning, analyze internal equity, and maintain pay transparency. Regularly review and adjust your strategy to adapt to market trends and employee needs.

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