How AI is transforming global employee benefits
Global employee benefits. It sounds like the dream, right? Imagine having just a few providers covering every employee’s needs worldwide - just one mental health provider, one pension plan, one private medical insurance, one menopause service etc.
The cost savings, the reduced administration, and the big “inclusion” win would be incredible.
But alas … if this sounds too good to be true, it’s because it is.
The quest for global benefits solutions is simply not realistic but that’s okay because you don’t need them.
Why global benefits aren’t the only answer
There are very few truly global benefits providers, and that’s no accident.
Most of the time the world doesn’t need one-size-fits-all solutions.
In fact, attempting to impose global benefits may lead to a Western-centric approach that falls short of meeting the diverse needs of employees in different regions.
The real key to effective benefits is localisation.
Each country has its own requirements, laws, and cultural expectations.
Take private medical insurance in the U.S., for example - it’s designed specifically for the American healthcare system. That same plan wouldn’t be suitable in Japan or Australia.
Similarly, a preventative health benefit built around the UK healthcare model wouldn’t work in India.
As a global employer, you need local solutions tailored to the specific needs of your employees in each region. These solutions must align with local legislation, taxation, social norms, and language preferences amongst other things.
While this “local” approach is essential, it presents challenges - such as increased administrative burdens, complex reporting, and the need for clear and constant employee communication.
AI: Personalising the benefits experience
Here’s where AI can make a real difference.
AI isn’t going to make benefits globally uniform (and neither should it), but it can transform the way benefits are delivered and this can provide a new type of equality.
An equal - and vastly elevated - “benefits experience” for all employees.
AI-powered platforms can process vast amounts of data to understand individual employee preferences and needs.
This enables hyper-personalised benefits recommendations that cater to each employee’s specific situation and location.
Imagine no longer sending out blanket, country-specific benefits newsletters each month.
Instead, each and every employee receives a tailored email with information and resources that are relevant to them - and at the right time.
In cases where a particular benefit isn’t available, AI can suggest local alternatives such as support groups, charities, or local healthcare providers.
This means that there is always something helpful to be offered to every person, everywhere.
Streamlining administration and reporting
The power of AI benefits platforms goes beyond personalisation.
It simplifies the complexity of managing multiple, localised benefits.
AI-driven platforms streamline reporting, making it easier for HR teams to manage global and local benefits from a single, centralised place.
This helps you to spot trends across regions, identify areas where improvements can be made, and refine your benefits packages over time.
By automating much of the admin work, AI allows HR teams to focus on more strategic tasks rather than getting bogged down in the details of benefits management.
A better benefits experience for everyone
In short, AI can offer every employee a seamless, personalised experience when accessing their benefits - no matter where they are in the world.
While the specific benefits will vary from country to country, the overall experience becomes consistent and intuitive for all.
This is the future of global employee benefits: localised offerings delivered through a personalised, AI-powered platform that understands the needs of your workforce.
In partnership with Peppy
'The home of benefits. Expert, clinically-led health services in-app, plus an AI-powered employee benefits platform.
