People work to provide for their family, but work means more than a paycheck. That’s the conclusion of a recent Aon Hewitt survey discussed in a June 1 SHRM.com article. Among engaged employees, 60 percent said their total rewards overall (i.e., everything an employer provides to an employee, including pay, benefits and the work environment) are above or well above what other employers offer, while only 24 percent of those who are disengaged said so.
When asked to allocate 100 points across each component of their total rewards, employees consistently allocate the most value to pay, averaging an allocation of 38 points. Health and wellness benefits and retirement and financial wellness benefits have a similar average allocation, and together account for about one-quarter of average overall value.
The full results of the survey are in Aon Hewitt’s report, Inside the Employee Mindset, along with five questions employers should consider when designing, communicating and delivering total rewards to employees.