What is an employee total rewards program?


Quick Answer

The employee total rewards program often includes benefits such as health care services and educational reimbursement. It also offers retirement benefits, time off and special discounts on various services.

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Full Answer

The employee total rewards program usually offers medical, life, dental, accident and disability insurances as well as vision care. It also provides prescription drug coverage.

In addition, the program provides the resources employees need to develop their skills and build their careers. Such resources include tuition reimbursement, family scholarships and training. These programs are designed to help employees grow and get rewarded for the results they deliver.

The employee total rewards programs often provide 401(k) and profit sharing plans. Some companies also offer performance-based promotions and flexible spending accounts.

Employee total rewards programs typically offer a variety of options to help employees balance work and personal life. Employees receive time off for jury duty and bereavement. They also get paid holidays and vacation. Furthermore, they can use on-site childcare centers. They can benefit from adoption assistance programs. They also receive short-term disability benefits.

Through the total rewards programs, employees can usually receive extra benefits such as discounts on gym membership or complimentary admissions to amusement parks. Employees can also take advantage of commuter assistance programs. They can attend company sponsored events and services.

Other benefits include counseling for stress, depression and anxiety. Through the program employees can ask get legal consultation.

The benefits that employees receive through the total rewards program vary based on their job title, location and company.

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