Earn Employee Loyalty through Benefits Technology

As organizations continue to compete for talent, they are realizing the integral role that benefits play in attracting and retaining the right employees. This is evidenced in our Global Employee Benefits Watch research, which surveyed 2,200 employees from companies around the world and found that only 15% of candidates don’t ask about benefits at all during the interview process. In fact, benefits have a huge role to play not only in attracting talent, but in influencing employees feelings about their current employer. Eighty percent of employees who said they have a good variety of benefits to choose from also said they identified strongly with their organization’s vision and values, as opposed to 40% of those who don’t. Market-leading organizations recognize this and to attract the best candidates and keep current employees happy, more and more employers are working to improve their benefits programs. While offering tailored benefits is important, much of the impact on employee loyalty is lost if these benefits aren’t easily accessible.

Giving employees easy access to their benefits information seems simple enough, yet over 50% of employees say they can’t access their benefits in the way they prefer and just 21% of employees say they can easily access their benefits. Clearly, employers are still delivering benefits in ways that don’t resonate with their people. So, what action does this mean employers should take? How can organizations make sure their people take full advantage of what’s available to them? Our research shows that employees are looking for the same experience they have getting information in their personal lives to be mirrored at work – one of the main aspects being the ability to consume information in a variety of ways. Using a number of communication options, including those driven by tech, is the key to keeping employees engaged and happy.

Integrating technology-enabled communication methods really pays off. For example, 62% of employees prefer to use a laptop for research and information gathering and 40% prefer mobile. Technology’s prevalence in everyday life is pushing employers to make sure their benefits strategy is delivered through  intuitive HR tech with a seamless user experience.

While making sure employees can access benefit information online is critical, it’s also important to deliver this information through other methods too. The only method that beats email and computer access is discussing benefits face-to-face with an employer, with 46% of employees receiving information this way reporting being satisfied. Email and computer access were close behind with satisfaction levels at 44% and 42% respectively. When information is more complicated and personal, people often prefer an in-person conversation.

The numbers say it all. 81% of employees who can easily access their benefits said they feel loyal to their employer and 79% say they were proud to work for their organization. Easy access to benefits information keeps employees happy and has the potential to secure longevity. 77% of employees who understand their benefits offering said they saw themselves staying at their organization for the foreseeable future.

It’s encouraging that employers realize the need to offer better benefits options to their people. But too many are stopping there. Making sure employees have the information they need about their benefits is the next step in solidifying employee loyalty, influencing whether they recommend working there to a friend, and, arguably most importantly, decide to leave or stay. If employers are committed to attracting top talent and keeping their employees, they need to ensure their benefits not only meet their needs, but that they can access them in the most consumer-friendly way possible.

 

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