30 / 6 / 2016 Midnight
Total reward is an approach to thinking about the attractions of working for an NHS organisation in a holistic manner – taking into account not just the financial package, but the long-term financial reward and the intangible benefits gained by an employee by being part of the NHS.
As NHS organisations, you provide some of the most comprehensive and attractive employment packages available. Basic pay is supported by a range of enhanced conditions of service, pension benefits, nationally agreed benefits and locally developed rewards and benefits.
In addition to tangible rewards, employees also benefit from other positive factors such a proven commitment to diversity and the intrinsic social value of the work - a factor which encourages many people to work for the NHS in the first place.
We have seen evidence that many employees within NHS organisations are not aware of the range of rewards and benefits offered by their employer. This means that they cannot understand or compare the value of their overall reward and benefit package. Adopting a strategic total reward approach will provide you, as an employer, with an opportunity to address this by clearly demonstrating the entire scope and value of the employment package on offer. Our reward strategy toolkit provides information and support on the planning, development and implementation of your strategy.
Total reward has a role to play in changing employee perception about their reward and benefit package. It also helps NHS employers evaluate and strengthen their strategy towards staff recruitment, retention and engagement in a challenging financial climate.
A successful total reward approach will depend on engagement across your organisation including:
- the support and commitment of senior leaders
- engagement with employees
- partnership working with staff side colleagues.
Further information on the latest developments around total reward can be found on our web pages:
Total Reward Statements
Proposed changes to tax-free childcare
Reward strategy toolkit
Why have a total reward strategy? - Blog.