What is a Total Rewards Statement used for?

A Total Rewards Statement is primarily utilized to quantify the value of an employee's total rewards package. This statement provides a comprehensive overview of all components of compensation and benefits that an employee receives, including salary, bonuses, health benefits, retirement contributions, and non-monetary perks. By presenting this information in a clear and accessible format, the statement helps employees understand the full value of their employment beyond just their base salary. This transparency can enhance employee engagement and retention, as it allows individuals to appreciate the complete range of rewards being offered to them.

The other options pertain to different aspects of employee management and development. Evaluating employee behavior typically involves performance reviews or behavioral assessments, which are separate from the financial and benefits overview provided by a Total Rewards Statement. Creating performance goals is a process focused on setting objectives for future accomplishments rather than assessing total received rewards. Determining employee promotions often relies on performance evaluations and career progression criteria, while a Total Rewards Statement focuses on compensation specifics rather than advancement eligibility. Hence, the correct answer highlights the statement's purpose as an informative tool to showcase the aggregate worth of an employee's compensation and benefits package.