"A significant part of our value proposition to employees is our benefits package. Before, employees always sensed that we had great benefits; now we show them. Your Total Rewards is a home run." - Joe Mays, Senior Vice President, Compensation and Benefits, Genworth Financial

Challenge

Genworth Financial, once a division of General Electric, is a company dedicated to providing financial security for its customers and its employees. When GE decided to spin off the company, the HR team faced a challenge: Some of the traditional opportunities that came with being part of the GE empire would disappear. A very competitive benefits and compensation package was designed to help the new company continue to attract, reward, and retain the best available talent. But Genworth needed a way to clearly convey the full value of the job — including benefits — to its employees.

Solution

The spinoff provided the HR team with the opportunity to do something they'd long wanted to do: develop a communication tool that would effectively tie pay and benefits together and show employees the true, tangible value of the total package. They compared several options before choosing Hewitt's market-leading tool Your Total Rewards (called Your Total Compensation at Genworth). The Hewitt solution had all the functionality that Genworth was seeking. And since they were already using Hewitt's Defined Contribution, Health and Welfare, and Payroll platforms, it was easy to integrate all of the systems. This meant that morethan 90 percent of the data needed to calculate total compensation was already in the Hewitt system, thus limiting the number of file transfers required to keep the site current. More important, it would deliver "real time" information to site visitors.

Results

Hewitt's experienced implementation team guided Genworth through an intensive but smooth development process, and the new site delivers a punch: Employees can now easily access a surprisingly powerful and easy-to-understand summary of their benefits and estimated value. A comprehensive communications program drove more than a third of employees to the site within the first two weeks. And it ensures employees continue to get the most from the site — for example, using the information to make benefits enrollment decisions and for financial planning. Positive feedback from grateful associates, as well as from senior management, continues to come in regularly. The HR team proudly reports that the site helps them attract and retain the people they need to succeed. The bottom line: Genworth gets the most from its investment in benefits and compensation, and employees get reassurance that they're working for an organization that values its people.