The world of online benefits platforms is a minefield. Get it right and your employees will be engaged, motivated, and inspired at work. Get it wrong and you’ll be left with a piece of expensive technology that barely gets used and doesn’t add any value to your business.
Whether you’re looking at online benefits platforms for the first time, or want to review what you currently have, here are my 6 challenges that an online benefits platform must overcome to add true value to your business.
1. The administration burden
According to the Centre for Effective Organizations, 73.2% of an HR professional’s time is spent processing ‘tedious administrative tasks’.*
Whether that be contractual, flexible, voluntary, perks, discounts or cashback, having an online benefits platform to manage everything for you in one place can save both HR and your employees time.
Controlling your entire global benefits programme from one platform makes everyone’s life a whole lot easier. With tools to automate and streamline the entire process - from on-boarding and enrolment, to reporting and analytics - an online benefits platform should help alleviate the entire administrative burden, so that your HR team can spend less resource on the time-consuming administrative tasks and more time on developing your people.
2. Employee engagement and experience
As consumers we have become more demanding and we know that we’re more inclined to engage with technology if it’s easy - take Amazon’s 1-click for example. Employees’ experience at work should be no different and the technology you offer your people needs to be effortless, intuitive, and mobile-friendly. It should work on any device, anytime, anywhere.
A stand-out, agile and relevant online benefits platform is essential to an exceptional employee experience. If it takes someone more than 30 seconds to find what they are looking for, they rapidly become disengaged. The platform you offer needs to be built with the end user in mind. It should be as easy and intuitive as online shopping.
3. Keeping up with technology
Technology is advancing at an unbelievable pace. Just think about how often your smart phone installs an update. The technology you use has a big impact on user experience for your employees and the background administration of your employee benefits.
If your platform is to be a success, it needs to be kept up to speed with the latest technology advances. These upgrades should be included in your overall package cost to avoid any additional upgrade charges.
4. Accessing data
Having real-time MI and a better understanding of one of your largest business costs is crucial to the success of your rewards and benefits package. The right platform will give you in-depth insights to your full range of benefits at the touch of a button so you can see how your scheme is performing, anytime, anywhere. With the right system, questions that previously took hours or days to answer can now be responded to instantly.
Having access to real-time analytics dashboards will enable you to gain and process in-depth insights across your whole company, allowing you to make quick, well-informed decisions and drive your business strategy.
5. Data security
GDPR is at the top of everyone’s agendas this year. You may not be up-to-date with the latest data security requirements, but your online platform provider should be.
The personal data that your business holds is an invaluable asset. Selecting a platform provider with all the relevant ISO accreditations is pivotal to enhance the trust and confidence in the service you are receiving.
Getting relevant and timely messages out to your employees can be challenging and we know that one size rarely fits all. A 21 year old living with their parents will not have the same responsibilities or interests as a 41 year old with a mortgage supporting a young family.
To get your employees truly engaged with your rewards and benefits, you need to talk to them and reward them as individuals. A good technology driven platform will allow you to send segmented and personalised communications from your desk, drive actions that deliver outcomes and see results in real-time – all with minimal time and effort taken from your HR team.