In today’s competitive job market, attracting and retaining top talent goes beyond offering a competitive salary. The total package, including benefits, perks, and equity grants, plays a crucial role in making your company stand out and ensuring the people you need to succeed feel valued.

However, many companies struggle to effectively showcase the full value of their total rewards to employees. HR teams often lack up-to-date market data or easy-to-reference pay ranges for a given job, making it difficult to know whether offers they create are competitive or in range when they present them to a candidate. To add to that pain, candidates are often left overwhelmed with information scattered across email, documents, and phone calls from their recruiter.

With Sequoia, you can activate a comprehensive set of compensation tools that enhance the employee experience and help your company stand out, from initial hiring and throughout an employee’s tenure.

Here’s two ways Sequoia helps companies convey the full value of a compensation package:

1. Building an offer experience that’s competitive and within range

The traditional method of sending candidates a document or making a phone call to present their offer falls short in conveying the full value of your company’s rewards. With Sequoia, recruiting teams can strengthen their offer process, create templates that keep comp within defined ranges, and compare pay to market data as it’s added to the offer, all in one place. This not only saves time for talent acquisition teams but also ensures that candidates have a seamless experience when considering their offer.

Companies sending offers using the Sequoia People Platform have seen their offer acceptance rate improve by 10% while also providing candidates a unified way to review every detail of their offer digitally.

2. Continuing to showcase the full value of total rewards

A great candidate experience doesn’t need to end with the offer acceptance. It’s important for your people to know how invested your company is in them throughout their employee journey. Total reward statements that both mirror the initial offer and stay up to date throughout an employee’s tenure become a powerful retention tool. Personalized statements help employees understand the full value of their compensation package, including equity, bonuses, 401(k) contributions, and of course, their base pay. By consolidating all this information in one place, employees can continue to see the full value of their comp from a tailored experience unique to them.

With additional features, like an equity grant simulator, employees can see the potential long-term growth of their rewards, illustrating the wealth creation opportunities tied to your company’s success.

By leveraging these comp management tools from Sequoia, you can reinforce your offers to attract the right talent more effectively, then provide that talent with statements that continue to show their total rewards package year over year. This not only enhances the employee experience but also improves retention by setting your company apart.

As your company thinks about communicating compensation to employees, consider:

  1. How are you ensuring pay offered to candidates is competitive and within a defined range?
  2. How do your employees understand how much their rewards are worth?

Want to learn more? See how Comp Management from Sequoia can help you stay on top of changing compensation trends at www.sequoia.com/platform/compensation-management/

    Jonathan Moore — Jonathan is the Director of Product Marketing for Sequoia. He explores the complex challenges facing companies today through research to inform Sequoia’s platform approach and go-to-market strategy. He has spent his career within the Healthcare and HR Technology industries. In his free time, Jonathan enjoys good coffee, Danish design, and photography.