Unitech Industries offers Comparatively Low Compensation but Many Unique Benefits to its Employees
Question:- Which approach is the best way to communicate this information?
A. Schedule an annual compensation and benefits fair for employees
B. Create a total rewards dashboard summarizing the value of all benefits offered to employees
C. Publish reports describing competitor compensation and benefits plans
D. Send monthly memos highlighting the compensation and benefits plans
E. Conduct compensation and benefits training sessions with employees
Answer:- The correct option is B. Create a total rewards dashboard summarizing the value of all benefits offered to employees
The Threshold Comparison Dashboard should present the total level of compensation that includes base pay, bonuses and equity; health and welfare benefits such as a health insurance plan, disability insurance, life cover plus paid time off; retirement death benefit along with work-life balance programs like flexible scheduling plans or leave policies. In addition, every other fringe benefit provided by the company needs to be estimated.
Dashboard The total rewards package is provided in one place where employees can fully understand the complete value proposition, even if base pay is lower than competing organizations. This strengthens the distinctive power of Unitech’s rewards ideology. All employees should be able to access the dashboard, and it should receive updates at least once per year.
Continuous training and communications that mention the dashboard will optimize understanding of the whole rewards portfolio. This data-driven, transparent approach is far more meaningful than sporadic memos or one-off events such as a benefits fair. The key is to demonstrate the full value proposition.
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