What is total reward?

A total reward (or total remuneration) statement provides employees with a single personalised statement that the employer perceives to be of value to the employee resulting from the employment relationship, like base salary, variable pay, share ownership and employee benefits. Each element of the reward package is given a cash value.

Our research shows that more than six in ten Singapore companies offer total reward statements either on paper (40 per cent) or web-based (18 per cent), and another quarter of companies (26 per cent) plan to implement them.