Total Package & Total Reward
A total package review gives an employer maximum opportunity to address both internal equity and external equity issues. Do your employees appreciate the value of the total reward you offer?
Total package structuring gives individuals the flexibility to craft their own packages based on lifestyle and individual needs – within a total guaranteed package structure. Because guaranteed employment costs are fixed and known (there are no hidden extras), costs are easier to control, market comparisons are simpler, benchmarking is accurate and employees can easily understand the true worth of their packages … all of which results in internal equity.
This puts the employer in a strong position to attract and retain high quality staff, and gives both the employer and the employee peace of mind, as their packages will be both equitable and easily defensible in the event of an Equal Pay for Work of Equal Value audit.