This is a great question! Total Rewards is a fairly new concept introduced to our company in 2011.
Total Rewards is everything of value resulting from your employment with the company. This approach focuses on specific components of benefit to you and your family. Some of these benefits are: health & insurance benefits, wellness programs, compensation, retirement benefits, recognition and other benefits.
The assortment of total reward components are offered to meet a variety of employees’ needs. The components support our company’s human capital investment to link to individual, team and overall business performance with rewards that enable our employees and their families to make informed choices and take personal responsibility regarding their health, financial security, and well-being.
The concept of total rewards allows us to demonstrate to current and potential employees our strong desire to help make the subsidiaries of The Schwan Food Company the employer of choice. As you can see, the pieces of the total rewards components fit together nicely to make up a total picture, a total package, your total rewards.