The employment landscape is changing. More multi-generational workforces in the same workplace mean that the delivery of employer-paid and voluntary employee benefits is becoming more crucial.
In today’s digital age where information is quickly shared and compared, employees are expecting better work conditions and a greater focus on employers on keeping them long term. How can a strong employee benefits platform contribute towards this?
Employers are now understanding more than ever that they need to effectively engage with their teams to get the best out of them. The truth is that a demotivated and disengaged workforce can bring down productivity and quality of performance.
Proactive employee benefits deliver through a strong benefits platform can prevent this. This will pinpoint a balance between rewards and engagement, and ensure the physical, emotional and financial wellbeing of staff. After all, employees have a combination of needs; being able to afford to live for the moment is essential for happiness and positivity, plus they need protection from unforeseen circumstances.
Customising Your Benefits Strategy
The combination of little to no pay increases and a changing employee landscape has led many employers to take advantage of imaginative ways to make employees’ pay go further. One important way of doing this is by offering relevant benefits.
One of the best ways to keep benefits relevant is through a comprehensive benefits package which can be customised, therefore allowing employees to access and see the benefits that are funded by their employer, are free to access or that employees can select and pay for themselves. For employers, this mix of benefit funding provides a fantastic way for them to enhance their benefit offering with the added bonus of being able to cost control the benefits budget spends.
The effective implementation of benefits requires strong communication with staff to effectively deliver the programmes and articulate the benefits. With the advances in technology and mobile devices, it’s far easier for employers to do this than ever before! For those employees working remotely or on-site in various locations, there’s a logistical need for them to easily access information about their benefits.
The most effective solution for this is an online benefits platform. An online benefits platform can deliver both tailored benefits and regular communications to meet the needs of specific employee groups. Digitisation of information and ease of access means that employees can quickly and easily access an employer’s benefits programme either at work or outside of work via a benefits platform.
What should employers keep in mind?
Whilst there are a sizeable number of benefit platform providers in the market offering a range of services, it’s important to know there’s significant diversity in cost, but more importantly in platform capabilities and even difficulty in usage. Many of the offerings have been built for the needs of large corporate businesses rather than for the needs of the clear majority of British businesses.
Simplicity should be the watchword to deliver the right benefits programme via a platform that can provide employees with a valuable choice of benefit options based on their individual needs. Even with simplicity in mind, the power of a strong employee benefits platform should never be overlooked.
Note 1: There are 5 identified generations in the workplace, with vastly different needs: