Show your employees what they really earn-Reading time: 3 Minutes
Offering an interesting and competitive pay package, but not highlighting it afterwards, is a bit like a rainbow in the dark. As not even half of employees regularly look at their payslip, many will undoubtedly lose sight of what they actually earn. Pointlogic's software package inspire is an excellent tool for making it clear to employees what they receive in addition to their salary, and acts as an incentive for greater motivation and engagement.
You like to reward your employees for their hard work, day in, day out. Most companies currently do this with a varied pay package featuring many interesting extras. Employers make serious financial efforts to be able to offer competitive salaries and all sorts of benefits. Often, these packages are so extensive that it's not always easy to understand them properly. Many employees don't really know what their company is paying out, from company cars to pension savings on top of salaries. You may make all these efforts, but if your employees take it for granted or aren't even aware of it, they won't have the opportunity to gain an extra dose of motivation or engagement.
Only half look at their payslip
A survey conducted by payroll and HR services provider SD Worx in five European countries showed that, on average, only 46% of employees check their payslips – digitally or otherwise – each month. This percentage is even lower if you look at the Netherlands (40%), France (39%) and Belgium (37%). For German and British employees, just over half of all employees look at their payslips each month. Many employees simply see the amount deposited in their bank account at the end of the month. They think of their monthly salary as 90% or 95% of their salary package, but that's often not the case. There’s rarely a clear overview of what's included in the salary package.
"Employers will only benefit from concretely showing their employees how much they appreciate them", says Bas Ossewaarde, Group Director at Pointlogic. "Several studies show that in more than 70% of cases, good communication about remuneration leads to greater motivation, productivity and loyalty." Salaries are and remain extremely important to employees. The SD Worx survey revealed that the salary package is still the top priority for European employees when searching for a job. 71% of employees also find it important to know what their employer offers them for each month worked.
Extra boost for employee experience
Bas Ossewaarde: "Not everything can be found on a payslip. The fringe benefits, such as the value of a company car and an associated fuel card, insurance or pension premiums paid, aren't always included. A monthly or yearly overview of all financial and non-financial rewards shows employees how much they are valued. Our inspire software provides a clear overview of what's included in each employee's salary package. Using handy colours and drop-down menus, inspire shows employees a breakdown of what they get from their employer. Look at it as an extra service for your employees that also gives the employee experience an extra boost."
More than 200 organisations are already using Pointlogic's reward management solutions, with demand increasing all the time. Select HR is one of the many satisfied customers: "We spent a lot of time and effort putting together a strong salary package that suits us perfectly. Within our company, we noticed that many employees don't have a real overview. inspire helps with this, as everyone can check precisely what they can expect from us at any time. This transparency creates an even stronger relationship of trust and engagement. It's an investment that pays off."
Pointlogic's inspire software can also be integrated into the payroll platforms offered by SD Worx, such as mysdworx, myworkandme or the SD Worx Assistant app. This allows the HR and payroll specialist to create a digital component employees can use to check their salary package easily at any time.