Business leaders in the UK have long felt that they should be deriving more value from their investments in employee benefits. This explains why organisations are increasingly looking to use benefits to drive employee engagements and retention and, in doing so, to overcome the skills shortages that are becoming such a barrier to growth in many industries.
However, with so much uncertainty surrounding the UK economy, few organisations are in a position to plough more money into benefits, so instead, they are attempting to maximise the impact of their existing investments, engaging their employees around benefits by providing a more seamless, flexible and personalised experience.
Technology and the digitisation of benefits provision is widely regarded as the best route to drive this optimal employee experience within benefits, and the emergence of new technologies such as Artificial Intelligence (AI) and Robotic Process Automation (RPA) is enabling HR departments to re-imagine the ways in which benefits are delivered to and consumed by employees.
We recently undertook research amongst business and benefits leaders, as well as employees, to explore this shift towards digitisation of the benefits within UK organisations and the potential role of technology in driving enhanced user experiences. The appetite for digital within benefits is clear – 92% of benefits professionals think technology can help to increase employee engagement with benefits, and 86% of business leaders agree.