If you’re operating employee benefits with multiple providers, read on and see how to transform your scheme in 2018. Bring your costs under control, make the scheme easier to manage and boost adoption.
If your benefits scheme is fragmented, you’re probably tackling these issues all too often…
Managing your scheme is difficult and time consuming. With multiple suppliers comes multiple contracts and multiple relationships to build and maintain. There are also the headaches of historical enrolment windows at different times, a lack of cohesive strategy and more time bogged down with trying to manage all the elements, with no time for improvements or innovations.
Costs go up and you lose control. Purchasing individual benefits from various providers will make it difficult for you to manage and understand the costs of your scheme. A financial and administrative nightmare! You also miss out on the buying power which you can take advantage of when sourcing benefits from a single provider.
Benefits adoption goes down. Employees are confused or even worse, uninterested in the scheme, perhaps not knowing there even is a scheme?! The varying enrolment windows and selection processes mean it takes more of their time to find out what they might want and to sign up, so they switch off. A good scheme runs on a fully branded, easy to use and visually pleasing platform which employees should immediately engage with and feel comfortable using.
No meaningful reporting. When you’re dealing with numerous providers, it’s difficult for you to collate any useful data or insight on the success of what you’re offering. Without central reporting you can’t judge how each benefit is performing and this means you’re unable to make the adjustments to improve the scheme. Reporting to the board becomes labour intensive presenting transactional data rather than useful insight.
Bringing your fragmented benefits onto a single platform for a fully integrated employee benefits scheme could transform and reinvigorate your offering. You manage everything from one portal, saving time and delivering the best possible experience to your staff.
It’s easy to make the switch. You can transfer your existing benefits over and add new ones, or start from scratch, benefiting from You at Work’s buying power with providers.
Want to find out more? Give us a call or drop us an e-mail and we can run you through a free, fast demo to show how You at Work can help you quickly introduce the right scheme for your business.