How to utilise technology to improve your benefits offering

Offering a range of benefits for employees is a great way to attract and retain talent. In current times, it can be the differentiator for an individual choosing you as their next employer. 

By integrating technology into your benefits strategy, you create a more efficient, engaging, and tailored experience for your employees, increasing satisfaction and retention.

In this article, we will focus on how the use of technology can help with a more personalised and flexible benefits offering.

Here are some of the key ways that you can utilise technology:

Select a digital employee reward and benefits platform

Choosing an automated digital platform can save you time and stress by streamlining employee benefit enrolment and day-to-day benefit management. It also provides valuable data to help drive strategic decisions and reduce administrative burden on HR and Reward teams. 

4me gives employers the flexibility to build a reward and benefit solution that truly reflects what their employees value most, improving the employee experience by offering a vast range of benefits tailored to individual needs. It also delivers essential insights through integrated total reward statements, helping employees understand their overall value. Additionally, advanced net pay modelers demonstrate how benefit choices impact take-home pay.

4me simplifies data management by integrating with payroll and HR systems, avoiding complicated navigation between multiple systems and bringing all benefits together in one single place. 

Create a personalised experience for employees

When selecting a digital platform, you can often include customisable tools and features. This empowers your people to be flexible and tailor their benefits choices to suit their individual needs, improving engaging and satisfaction. Adding sustainable incentives to benefit selections, such as tree planting or coral reef rehabilitation can enhance the user experience and allows employees to embark on their own sustainable journey, whilst caring for the planet at the same time.

Customisable tools enable you to provide and manage a broader range of benefits that cater to diverse demographics, such as parental leave policies or sabbatical leave options. They can also include features like hosting student loan information, ensuring all employees feel valued and supported within the organisation.

Utilise data analytics for optimisation 

These platforms provide a wealth of data and management information, helping you understand the value of the employee benefits. For example, BW’s 4me Insights (GEM) can provide data on employee behaviours, benefits usage, workforce segmentation, and potential cost savings. It can also track email campaign success with it’s Google Analytics integration, helping you understand the success of targeted communications for your benefit offering. 

Implement employee engagement and feedback tools 

Your benefits strategy needs to be reviewed regularly to ensure you are providing the right benefits for your workforce. Employee benefits need to address the needs of continually evolving employee challenges, but also give you return on investment (ROI).  

Online surveys can reveal what benefits are most valued by your employees, allowing for tailored offerings, but they can also identify areas which may need further communication to increase engagement and awareness. 

Using data analytics tools to gather employee feedback also enables you to identify trends in generations, locations or even salary band. Technology can help with the continual feedback loop, enabling you to re-run surveys again so you can compare the results more easily and track improvements. 

Improve employee accessibility  

Utilising online portals means that employees can access their benefits anytime, anywhere, from any device, enabling them to make their own benefits choices at a time that suits them. For example, technology offers easier access to health and wellbeing services, removing the barriers for access and providing instant support. 

Enhance communication tools to increase awareness 

Utilise communication tools to increase awareness and understanding of these platforms. For example, you could use email newsletters to inform employees of important dates, such as opening and closing windows, or create personalised videos to increase understanding of benefit offerings. Platform-generated communications can drive traffic to the platform, ensuring that you are continually achieving high levels of engagement throughout the year.  

Ensures compliance and security 

Technology can help you remain compliant with regulatory requirements and implement secure solutions to keep employee data safe. Two-factor authentication can be used to ensure maximum security for employee logging in process. 

By leveraging these technological solutions now, employers can save time and create a more flexible and personalised benefits package that meets the diverse needs of the workforce, which ultimately leads to higher employee satisfaction and retention.

4me helps you create a benefits solution that’s tailored to the bespoke needs of your workforce. Book a personalised demo with our friendly team.