3 reasons why you need a global platform for your benefits
Employee needs are changing rapidly and teams need an agile system that can facilitate hyper-personalised benefits to keep up.
Multinational companies need to communicate with employees across multiple markets and offer benefits that are both local and global. Challenges facing modern HR teams include how to navigate global workforce communication, the demand for different local benefits, individualisation of benefits, automating enrolment and administration, and tracking engagement to show return on investment (ROI).
After all, benefits investment is often one-third of a company’s annual budget, and using a best-of-breed technology ensures the experience better matches that investment.
3 reasons why you need a global benefits platform:
1. Meet employee needs wherever they are
The future of work is global and companies positioned to sustain a multinational workforce will thrive. Whether employees are overseeing factory work on-site or doing a month of remote work in Bali, your team needs a streamlined process to ensure access to their benefits.
A digital-first benefits platform allows everything you offer to be tailored to individual markets and employee demands while remaining accessible anywhere, at any time.
Different markets have different standard and non-standard benefits, which means that an initial one-size-fits-all approach ends up requiring more time and energy on the back end.
An employee working in central office may have access to a gym in the building, but a remote employee will need a pass to a local gym in their area. A benefits platform offers your team the opportunity to personalise offers, going beyond the one-size-fits-all approach. This hyper-personalisation allows your team to meet the needs of employees with benefits that are relevant to them wherever they are.
2. Mobile-first technology is engaging
A benefits platform allows for clear, relevant, timely messages to be sent to all employees in your company, removing guesswork about updates and milestones.
If employees don’t know about a benefit, they won’t use it – and that’s money wasted. Benefits are often one of the biggest investments a company makes, and ensuring employees are aware of them is one of the best ways to make sure those benefits are used.
Using technology built to be mobile ensures every employee can engage with their total rewards package in a way that suits their lifestyle. A mobile-first app allows flexibility and freedom.
When managing benefits on a global scale, it’s essential to consider the specific needs of each country and employee. The right technology allows employees to see a personalised view with every log-in and have immediate access to the benefits they need the most.
For example, in a country like Spain, where Benify’s latest report determined that family benefits are prioritised by employees (childcare, menopause support), a digital-first benefits platform allows HR teams to reach employees in that region and share particular key messages on flexibility and working hours benefits.
3. Data is king
Perhaps the most obvious asset (often overlooked) that comes with using a global reward and benefits platform is the abundance of data it provides.
Instead of relying on external surveys or point-in-time focus groups, a digital-first benefits platform provides real-time data points that streamline administration and provide insights into an entire workforce through a single view.
By gaining oversight of which benefits are being used the most, as well as which ones are being searched for that you do not offer, you can ensure employees are always receiving the benefits they want and need – while gathering insight on the organisation’s ROI.
Perhaps the biggest asset when using a global platform rich with data is that you can export that data and share it with stakeholders, allowing for informed, efficient decision making.
Think big picture and long term
The best global platform will reflect the needs of a business as a whole. This includes employees in every region, present and future. It must be agile enough to continue to attract and retain talent in a challenging labour market.
Discover what employees across the UK and Europe are asking for right now.
If you’re looking for a benefits platform for your multinational organisation, it helps to start by looking at the big picture. Benify recently surveyed more than 8,000 employees across eight countries to identify satisfaction levels and top-priority rewards and benefits needs for individual employees, broken down into age and country. The results are now available for download: The Benefits Factor 2023.
In partnership with Benify
Benify offers the market's leading global benefits and total reward platform.
