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Total rewards doesn’t just pertain to financialcompensation ? it also includes healthcarebenefits, time off, recognition programs, and more. Financialcompensation. Let’s go over the common elements of a total rewards package and explain why each is a significant piece of the total rewards puzzle.
By surveying 2,000 employees across various industries, the study identifies the most and least valued benefits and examines the cost-effectiveness of offering these perks. Healthcarebenefits emerged as the top priority, followed closely by flexible work hours and additional vacation days. What is perks in salary?
Moreover, it has also given rise to the Great Resignation movement which shows that employees are no longer satisfied with just financialcompensation and actively seek a work-life balance. More and more companies are ditching the rigid healthcarebenefits and incorporating mental health ailments in their health coverage.
This includes opportunities for learning and development, a healthy work-life balance, a positive company culture, and an enriching environment beyond financialcompensation. Capital One provides comprehensive healthcarebenefits for employees and their eligible family members.
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