BrightPlan Announces Total Rewards Statement to Enable Employers to Better Attract Top Talent

New Capability Empowers Recruiters and Candidates to Understand and Communicate the Value of Total Rewards

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Jan 19, 2022, 09:02 ET

SAN JOSE, Calif., Jan. 19, 2022 /PRNewswire/ -- BrightPlan, a leader in Total Financial Wellness, today announced a new Total Rewards Statement capability, reinforcing its commitment to support HR leaders and enable employers with a competitive edge in attracting top talent. As part of BrightPlan's strategy for addressing one of four HR top challenges, attracting talent, the company's new Total Rewards Statement provides the right tools and resources for recruiters to communicate effectively —and candidates to better understand— the total value of each offer.

"It has always been challenging for recruiters to fully explain the value of total rewards offerings to candidates, especially in this hyper competitive talent market," said Kerstin Aiello, Director of North America Benefits at Synopsys. "BrightPlan partners closely with us to help our employees maximize the value of their benefits, enabling us to be more competitive as an employer of choice."

The Total Rewards Statement also reflects BrightPlan's commitment to supporting diversity, equity and inclusion (DE&I) efforts. With pay disparity and wealth gap a reality in many industries, employers need more visibility within their ranks. The Total Rewards Statement can be a part of an employer's DE&I initiative by providing a consistent way to map and communicate offers.

Total Rewards Statement Key Features

Easy to understand: A single portal with an easy-to-understand view and set of explanations that effectively communicate total rewards broken down by categories, such as base salary, bonus, equity compensation, the total value of available employer benefits, and more.

Customized: Each employer has a set of consistent components for all offers that are customized by candidate. An employer who offers equity compensation, for example, will be able to define the number of shares a candidate is being offered while BrightPlan provides all the details that are consistent across all offers, such as the vesting period.

Instant report: While creating a candidate offer, a recruiter can now include and present a Total Rewards Statement to the prospective employee, ensuring a seamless and transparent experience.

Accessible: BrightPlan's Total Rewards Statement will be available to non-employees specified by the employer, such as outside recruiters and shared with job candidates via a downloadable PDF.

The Total Rewards Statement will also include tools for employers to better explain equity compensation to candidates, one of the most complex aspects of compensation and a key leverage employers have to attract top talent.

The Total Rewards Statement complements tools and resources already offered by BrightPlan, such as customer educational content on benefits and equity compensation, benefits communication support to HR teams, and unlimited employee access to experienced financial advisors.

"The unemployment rate is approaching pre-pandemic levels and is currently a low 3.9%. This number reflects the reality every employer faces today: the struggle to attract talent," said Larry Robinson, BrightPlan's Chief Product Officer. "By helping candidates more fully understand their offers, we are enabling employers to better attract talent and further increase their reputation for stellar culture and a great place to work."

Read this related announcement to learn more about BrightPlan's strategy and solutions for addressing top business and HR challenges.

About BrightPlan
BrightPlan is a leader in Total Financial Wellness. BrightPlan provides a comprehensive solution that addresses all aspects of employees' financial health at every stage of life, and empowers HR teams to enhance the employee experience and better attract, retain and engage talent. Its unique combination of digital platform and human advisors enables employers to deploy at scale while delivering personalization for employees. The company is the first financial wellness solution certified for fiduciary excellence by the Centre for Fiduciary Excellence (CEFEX). For more, visit brightplan.com.

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Disclosure: This press release includes statements about BrightPlan made by a current client. BrightPlan did not provide any compensation in exchange for this statement.

SOURCE BrightPlan