Employee Benefit Platforms: Why have them?

Benefits platforms for employees don’t require a lot of complexity neither from an infrastructure or in terms of overall cost. Our experience speaking to customers is that many benefit providers that they have encountered have excessive month-to-month (per employee) costs and provide complex IT solutions. This is why companies frequently opt to delay or postpone the purchase of benefits.

Technology is changing the benefits industry. It allows for efficiency, speed and convenience with the ability of employees to view and access their benefits at any time, and for employers and their managers, it can provide an excellent level of engagement for employees. The advancement in technology means that the new platforms offer solutions that are significantly less expensive and have cost-effective running expenses for companies of all sizes and needs for benefits.

The return on investment of the employee benefits platform is nearly 100% when it comes to increased employee engagement.

The employee benefits system can increase employee engagement in benefits.

What makes employee engagement in benefits so crucial?

There are a few immediate benefits that the employee benefits platform offers in terms of engagement of employees with benefits. The employee benefits platform must be user-friendly that allows employees to locate the information they require in an just a few seconds. The ease of use for employees leads to an environment that is enduring, because users are likely come back to the site and fully benefit from the benefits that are offered.

A user-friendly platform means there’s no requirement for lengthy seminars, webinars or presentations and employees can use the platform immediately and find the exact information they need fast.

Accessibility is crucial too. A platform for employee benefits can be accessed via tablets, mobiles and desktops which makes it easy to access at any time and from wherever your employees require it.

Rewards Program – generating positive word-of-mouth

The employee benefits platform can help to overcome the obstacles that hinder positive word-of-mouth recommendations from your employees.

Before employees can be convinced to endorse their benefits, they must be able to realize the value of the benefits. In order to get the most value from your benefits your employee benefits must be simple to access and user-friendly. This is why an important part of your platform’s offerings must be recognition and rewards which gives employers the chance to give employees perks like tickets to events such as travel cards gifts, gift cards, gifts and flowers, as well as personalized certificates.

It is linked to the Retail Discount Scheme, that offers employees benefits to hundreds of discounts across different stores, allowing their wages to get that much higher.

What’s the purpose of a recognition system?

Employees feel valued, motivated and are likely to engage with their employer more if they are recognized for their efforts and accomplishments. Recognition that is led by leaders is a powerful tool, but recognition from peers could be more beneficial and have a greater positive effect on performance and morale. Recognition of employees by peers schemes provide a means by which employees can offer each other acknowledgement based on different organisational goals and principles.

Immediate reward delivery
Customised e-cards
Peer-to-peer nominations

What does a recognition program function?

The platform for recognition was designed to allow employees to recognize accomplishments and the outstanding work of their coworkers. Goals and values are established for the entire organization or for teams that are individually managed, from which employees can be able to give thanks, kudos and apologies as they are deserved by employees who live up to the goals and values. Recognition is tracked by the administrators through an Engagement Dashboard, from which managers can see the people who are their most active champions are. Budgets can be set up to reward outstanding performance in addition to employees who are running for the month of nominations.

Why should we have a recognition program?

Implementing a rewards program will not just increase employee satisfaction and decrease staff turnover, but will help in retaining employees and attracting new talent.

Management data provides understanding of how to drive the culture of recognition, giving employers the capability to evaluate what values and goals are being fulfilled and who is doing it in addition to determining who the team’s key players are.

Weekly round-up emails are delivered to employees and includes news and updates on their activities from earlier in the week. This is intended to inspire users to utilize the platform effectively and to think about proactively rewarding colleagues.

Your benefits should be seamlessly integrated into your daily routine

If you host your benefit information on a separate platform your employees will be able to be able to use it as they would Microsoft Teams or Zoom and they’re more likely login outside of working hours as well.