Three ways that flexible benefits technology is improving inclusivity
For employee benefits to have value, they need to address the needs of employees. However, knowing exactly what benefits their employees want is no easy feat.
This is where flexible benefits come in. Flexible benefits allow companies to customise their offering by enabling employees to choose from a variety of pre-tax benefits. Moreover, flexible benefits technology enables employers to offer a wider range of benefits and create greater inclusion by addressing the needs of every employee without any additional administration for HR and payroll.
Below we look at three ways flexible benefits technology helps make benefits more inclusive:
1. Technology creates a personalised employee experience
Today, in every workplace around the world, we see multiple generations working side by side. Of course, each generation has its own needs and preferences depending on life stage, as well as other personal factors.
Flexible benefits technology allows companies to provide a unique and personalised experience for every employee and every generation. Just like when users log in to Netflix, Spotify or Amazon, every time an employee logs in to their benefits platform, they see a personalised dashboard with benefits that are applicable to them and that they’re eligible to enrol in. And, of course, personalisation is crucial to the employee experience.
2. Technology allows employees to choose how they want to use their benefits
Instead of a “take or leave it” approach to benefits, flexible benefits technology enables employers to offer their employees benefits that are useful and meaningful to the individual.
Global recruitment company Adecco made the decision to implement a benefits administration system to create greater employee independence and personalisation around flexible benefits. In addition to regular vacation days, Adecco offers its employees in the Netherlands an additional 13 days a year, which employees can choose to have paid out fully, paid out in part, or take as vacation days. Through their benefits administration system, employees can select what they wish to do with their 13 days directly within the portal. The system automatically calculates what the pay-out amount will be based on the employee’s selection.
Allowing employees to choose their own benefits through flexible benefits technology not only results in greater benefits usage and satisfaction, but also demonstrates that you understand and care for every one of your employees, which is crucial for inclusion.
3. Technology enables your entire workforce to access their benefits
According to Emergence Capital’s The rise of the deskless workforce (2018) survey, 80% of the global workforce are not stationed behind desks every day. Therefore, unless you are using flexible benefits technology that employees can access via an app, you are excluding the majority of your workforce. Why restrict accessibility and enrolment to office computers which can only be used during office hours?
By using an app, you enable your entire workforce, including blue-collar workers, to access their benefits 24/7 when and where it is most convenient for them. This is especially important for factory workers, electricians and those working in retail shops.
As Jesse Jackson, US politician and human rights activist, said: “Inclusion is not a matter of political correctness. It is the key to growth.”
This article is provided by Benify.
In partnership with Benify
Benify offers the market's leading global benefits and total reward platform.
