Do your employees appreciate the value of their benefits?
Employee benefits are a vital part of total remuneration. But many employers lack a clear understanding of how the value of their benefits programs compares with the marketplace. What’s more, many employees underestimate the significant value of their benefits package.
Hay Group helps benchmark, design and implement benefits programmes that are cost effective and high value. We help you design and implement a benefits program to reflect both your company priorities and employees’ priorities.
We do that by:
- auditing existing benefits packages and total remuneration (cash remuneration plus benefits) against both employer and employee needs and consistently benchmarking them against comparable organisations across the globe
- establishing what employees value most and what they want—so that the benefit investments can be allocated to the areas of highest perceived value for employees
- detailing benefit costs, so employers can prioritise expenditures and provide robust total remuneration statements so employees have a better understanding of the value they receive from the organisation
- integrating benefits fully with other reward and HR programs.
The result is a benefits package that truly responds to your employee’s needs while fitting within your overall reward strategy.