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01 Aug 2022

3 ways companies can use technology and data to determine the best benefits

HR technology can help create bespoke benefits and even target individual employees

3 ways companies can use technology and data to determine the best benefits.jpg 1

 

Many companies use HR technology to streamline their business processes, everything from admin to onboarding to internal communications.

When it comes to tailor-made benefits aimed at a section of a company’s workforce, or even specific individuals, there are different ways in which HR technology and data can help create bespoke benefits.

It’s worth stressing that the data mentioned is not the type that is collected in secret without employees’ consent but data that employees give voluntarily through different channels using HR tech that have communication engines optimised for mobile devices and desktops.

Here are some of the best ways in which companies are using HR tech to determine the best benefits for their employees:

1. Company surveys

There are many surveys designed to get specific insight about employees. One of the most common is simply about asking the question: how do employees feel overall? Good HR tech will make it easier to design a survey to answer that question, and will be mostly automated, sending out a survey on, typically, a weekly or monthly basis.

With all their answers anonymous, employees can feel at ease answering questions or voicing opinions that they might not want to give face-to-face to a manager. Once these surveys start collecting data, it’s easy to get a view across the whole organisation and roll out benefits that will suit a large percentage of employees.

According to Human Resource Executive, $2bn was invested in HR tech and wellness in 2021, partly as a result of the pandemic.

2. Individual health surveys

Of course, there is no one-size-fits-all when it comes to rolling out benefits across an organisation. Some employees will like running marathons, others enjoy knitting, while others will like creating art.

So, how does a company ensure that individual employees with specific needs and wishes don’t fall between the cracks? Well, again, individual surveys are the answer. Using HR tech it’s just as easy to set up individual surveys as it is for a whole organisation and employees will be invited to answer specific questions that will highlight their needs.

Again, these surveys can be sent out on an automated and scheduled basis and will alert managers if an employee feels as if they are suffering from, for example, stress. Benefits can then be targeted at that individual employee to help them get back to full capacity.

3. High street discounts

This might not be an obvious way of collecting data, but it’s an area sometimes overlooked when it comes to HR tech: high street store discounts. This can include everything from kitchen equipment to spa treatments to holidays.

Whenever an employee purchases a product or service through the platform with the discount, the information is sent back to the supplier(s). This makes is easier to tell what kind of products and services employees are buying and a company can target specific retailers and suppliers for their employees.

A good range of discounts can put employees at ease, especially in times of high inflation and cost of living. This may not work for every company, but for those who offer discounts to their workforce generally find them to be more engaged.

These three areas are just some of the ways in which companies are using data to boost employee engagement and wellbeing.

Clearly, the best way to collect data is to make it easy to capture through a digital mobile or desktop HR platform. Not every employee will be behind a desk, so it’s even more important to collect data from employees that might work on their feet (eg health professionals, construction workers).

With a combination of surveys, polls and discounts, through a HR tech platform that’s easily accessible and easy to use, companies should have no problem ascertaining what their employees needs and wishes are, whether across a whole organisation or as individuals.

Original article: How are companies using technology and data to determine the best benefits?

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