The largest financial investment companies make is in their employees’ compensation and benefits, which is commonly referred to as Total Rewards. For many technology companies, this investment makes up 75% of their overall expenses. But most companies struggle to validate that their investment is making the intended impact— whether increasing employee retention, managing costs, justifying individual offerings, or all the above. This has been a long-standing challenge because total rewards data is fragmented across systems, vendors, and internal departments, making it difficult to get a real-time view into meaningful data. This makes analyzing information across numerous business dimensions through a holistic view seem impossible.
Today, company leaders are focused on navigating the current economic pressures by making thoughtful, cost-effective decisions that reach their distributed workforce, and retain their top performers. A competitive Total Rewards approach that employees value and drives outcomes can make the difference in moving their business forward. That’s why we built the Total Rewards Solution, to help companies get their total people investment right.
Part of improving this strategy is having deeper insights into the ways a company invests in its employees, and being able to slice that data by role, demographics, departments, and more, so they can uncover gaps and opportunities to improve their people investment strategy.
We recently rolled out Total Rewards Insights to help companies see a more complete picture of their Total Rewards by combining pay and equity data with benefits spend in one view. Leaders can drill into the details of their company’s total rewards spend by job category, job level, and reward type to discover how they’re investing in employees across the organization.
With Total Rewards Insights, Sequoia clients can:
- See a summary of their annualized total rewards
- Slice data by cash, equity, and benefits spend
- Capture the average investment per employee
Total Rewards Insights simplifies how companies understand their investment in employees, empowering leaders to make more informed decisions about their strategy. Visit sequoia.com/platform to learn more about the Sequoia People Platform.