A major part of future-proofing ourselves as businesses lies in driving greater value and engagement from the benefits we offer. That means knowing our people well enough to design a benefits package to suit them, and then helping them use and engage with those benefits as often and as meaningfully as possible.
The secret to humanising the workplace and individualising reward lies in a more sophisticated approach to knowing our people. With so much access to our employees, how can it be that Amazon and Netflix know them better than we do? In the same way that retailers collect information to tailor and curate the consumer experience, we too can be smarter and move beyond surveys, reviews and exit interviews.
We need to be alive to fact that a typical 24-year-old might not yet be interested in their pension but could engage with a cycle to work scheme or a holiday buy/sell scheme. As they get older, priorities may shift towards security and protection as home ownership and children come into the picture, and the closer they are to retiring their pension and financial planning services will take on greater importance. The challenge is to offer something for everyone, however big or small – which means different things to different people.
As employee expectations evolve and shift in line with their everyday consumer experience, the best talent will seek out employers whose benefits slip seamlessly into their day to day lives and make them feel supported. They will also gravitate towards environments and offerings that mirror their own life choices.
In many cases the solution for this lies in technology which now usually means mobile-first. By putting reward and benefits in a smartphone app like Hapi, it is easier to give every worker quick and easy access to their benefits – discount vouchers, cash plans, wellbeing services, money-saving products, financial advice, mental health resources and so on – in a way that is personal to their needs.
The same tech also enables employers to engage with those workers in a personalised way through tailored and relevant communications, and to drive engagement through gamification and other incentives that may even provide some fun along the way.
Moving forward, being onboard will this tech will also enable a more seamless uptake as AI tools come onto the market to further augment this area.
Alongside this investment in technology and data, we also need to remember that we are dealing with people, with real-life experiences, needs, families and concerns.
We take this same approach when it comes to dealing with our clients. Face-to-face time is resource-hungry, but it allows companies and employees to gain a better understanding of the full range of products available to them. It also allows us to improve and sense-check what we offer by speaking with small segments of the market.
There are workers in the UK who might struggle to find products online, lack the time to arrange and attend appointments, or work non-standard hours, perhaps even night shifts. By going straight to them, we help make that connection and explain how each product works.
Not only does this help people understand what they are buying, it helps us sense-check our claims processes and the value of our products. Sitting down with charities who deal with bereavement or visual- and hearing-related impairments has also allowed us to improve how we empathise and deal with people’s needs and improve our customer interaction.
A major part of future-proofing ourselves as businesses lies in driving greater value and engagement from the benefits we offer. That means knowing our people well enough to design a benefits package to suit them, and then helping them use and engage with those benefits as often and as meaningfully as possible.