4. Informed and supported employee decision-making
Almost 80% of the multinational corporations we surveyed told us that candidates were negotiating more on benefits and demanding more choice. Employers achieving high engagement in their employee benefits scheme had, on average, 21 different benefits. For many organisations, the only way to meet the demands of a diverse workforce is to offer more choice. But greater choice means more complexity for employees to navigate – so organisations introducing a plethora of new benefits need to communicate these in the right way.
Almost half of employees say they don’t know about or understand all of their employee benefits. This is partly because benefits can be complex and the information available to employees can be overwhelming; benefits like insurance can include a lot of technical language and come with many legal and key facts documents that employees may never read.
Benefits technology is empowering employers to provide a more personalised benefits journey that makes it easy for employees to understand and select the most relevant benefits. Educational content is already helping to dispel myths and add clarity around what some popular benefits are for, and whether an employee should choose them. To help employees better comprehend, appreciate and participate in benefits, pages should be clear with FAQs and explainer videos that cut through the jargon. Many of our customers also use social proof videos to help bring the benefits to life.
Benefits technology is empowering employers to provide a more personalised benefits journey that makes it easy for employees to understand and select the most relevant benefits.
By being able to select topics of interest or subscribe to streams of content within the benefits platform, employees can customise their benefits experience, and ensure they’re only receiving information on the benefits most relevant to them.
“We have been on a journey of improvement over the last few years with embedding new technology to support employees to make choices easier, and also introducing new benefits.”
The rise of large natural language processing models and AI will push this decision assistance even further. Reward and benefit teams will soon be able to generate content in seconds to help their people make smarter benefit choices. AI can also analyse large datasets, learn from them, and make predictions based on that data – helping to personalise the employee benefits experience further and engage employees.
We are already using chatbots within our technology to get employees answers and support far more quickly than picking up the phone or sending an email.
