Compensation   |   Rewards   |   Total Rewards   |   Pay for Performance

Workstream Total Rewards Statements

Workstream Total Rewards Statements are powerful web-based tools that gives employees one place to view, model, and manage all corporate-sponsored compensation and financial benefits. Through this tool, companies can use strategic talent management programs at the employee level to better attract, retain and motivate their workforce. Workstream has redefined the meaning of "total rewards" for employees. are powerful web-based tools that gives employees one place to view, model, and manage all corporate-sponsored compensation and financial benefits. Through this tool, companies can use strategic talent management programs at the employee level to better attract, retain and motivate their workforce. Workstream has redefined the meaning of "total rewards" for employees.

Workstream Total Rewards Statement is a product that:

• Illustrates the full, consolidated view of an employee's total compensation and financial benefits, including all types of corporate contributions.
• Delivers a knowledge base of personalized compensation and benefits information and a set of easy-to-use tools for structured financial modeling.
• Provides secure, real-time information from a company's financial services providers.

With Workstream Total Rewards Statements, employees are able to grasp the full value of not only their compensation and benefits programs, but also the contributions a company makes on their employees behalf towards health and welfare benefits. Organizations benefit because they can deliver this important information, at a low operating cost, with enhanced fiduciary compliance while increasing retention of quality employees.

Key Total Rewards Statement Capabilities Include:

• Support for all benefits and rewards-related programs including:
  • Defined benefit and contribution plans, such as pensions and 401(k)s.
  • Profit sharing plans.
  • Employee stock purchase (ESPP) and stock option (ESOP) plans.
  • Base and variable compensation, including base salary, long- and short-term bonuses, and various commission plans.
  • Executive benefits and non-qualified plans such as deferred compensation plans, SERPs, and split-dollar plans.
  • Health and welfare plans such as medical, dental, and life, including employer and employee contributions.
  • Work-life benefits (such as tuition, child care and transportation benefits)
  • Non-cash incentive and rewards programs
• Connectivity to Other Benefits Providers. Connections to a firm's financial benefits providers can be implemented in real time or at the appropriate refresh frequency. Workstream handles all technical integration and configuration related to provider connections and security.
• Combines Financial Data with Knowledge. Workstream Total Rewards Statements provides a knowledge base of information specific to your compensation and benefits programs including plan descriptions, corporate policies, government regulations, and more.
• Easy-to-Use Charting and Modeling Tools. Colorful charts and graphs and user-friendly tools for structured financial modeling allow employees to see the present and future value of their compensation and benefits programs.
• Integration with Solutions. Workstream Total Rewards Statements delivers complete compensation and benefits information to your employees through a single, secure web-based interface. It can be delivered as a standalone product or as a complimentary part of other solutions, such as Workstream's Compensation Planning solution.