More employers are improving flexibility by ditching the one-size-fits-all approach to employee benefits and opting for a more personalised experience.
Personalisation is all about utilising data to identify what benefits your employees may need. This data can then be used to tailor your benefit schemes to the requirements of your workforce, creating a smarter solution that can also benefit employers by boosting motivation and staff retention.
Personalised services can encompass all employee benefit initiatives, but a key area that’s making the most of personalisation is employee health benefits. As health needs vary by age, gender and multiple other factors, it’s important that these initiatives are tailored to individuals. But what personalisation and health trends should employers be looking out for?
1. Personalisation technology is becoming more popular
According to the REBA Technology Survey 2017/18, 37.7 per cent of employers surveyed said they are focusing on personalising their employee communications.
As well as this, 64.5 per cent of the employers surveyed said that technology would make the biggest impact on helping employees understand the value of the benefits that were being offered to them.
Personalisation technology is on the rise, helping employers to streamline their benefits offering and develop the employee experience in using the schemes available.
2. The rise of Gen Z and millennials
Employee benefits need to keep up with changing demographics, as younger employees have different health needs and priorities. For example, Neyber’s DNA of Financial Wellbeing 2018 research found that 18–24-year-olds were most concerned with mental health and 55–64-year-olds were most concerned with physical health.
Through personalisation, employees of different ages can be recommended the health-focused schemes they would benefit from, helping to increase benefits uptake and steer them towards healthier choices.
3. An increasing focus on mental health and wellness
Research has highlighted that there’s been a significant improvement in attitudes towards mental health in the workplace. Business in the Community’s Mental Health at Work (2017) report showed that 84 per cent of employers acknowledge that they have a responsibility towards their employees’ mental wellbeing.
With one in four people experiencing a mental health problem each year, it’s important that employers promote mental wellbeing.
This can be done through personalised information and benefit schemes such as employee assistance programmes and help with financial worries. This can help to improve productivity and reduce absenteeism.
Many employees might be unaware of health benefits that could make a real difference to their lives. With flexible, personalised benefits technology that allows access anytime and anywhere, employers can ensure relevant schemes are offered to employees, helping them to improve their health and wellbeing.