Pharmaceutical services organisation, Quintiles, has rolled out total reward statements (TRS) to its operations in a dozen countries in Europe, Africa and the Middle East over the past two years, using a range of solutions from online with functionality to do-it-yourself (DIY) statements that can be prepared in a matter of hours.
Debra Corey, senior director compensation and benefits for Quintiles in Europe, Africa and the Middle East, uses a milk analogy to describe how different types of TRS are more appropriate in different operational scenarios:
online TRS are the “whole milk” version
paper-based TRS are “semi-skimmed”
DIY statements represent the “skimmed” versions.
She asks organisations to consider: “Which ‘milk’ is right for your organisation and how do you decide on which carton to pick up?” Total reward statements are a great way of creating visibility and a “platform for showcasing all of the fantastic reward programmes your organisation has put in place,” Corey adds, as she explains the company’s journey, rolling out statements in a diverse range of countries, from Ghana employing just eight people, to the United States with approximately 6,500 employees.
CASE STUDY: QUINTILES
A flexible approach to total reward statements
The TRS journey
Pros and cons of online, paper or DIY statements
Tips for success
Benefits of total reward statements
The Quintiles TRS journey
Pros and cons of different TRS “milk”
Sample total reward statements