Current Situation
Organizations face increased competition in attracting and retaining top talent, and benefits can be a differentiating factor. With a diverse workforce spanning multiple generations and lifestyles, there’s a pressing need to cater to a variety of individual requirements and expectations beyond the traditional health and retirement packages.
Goals and Objectives
Goals:
Make the organization more competitive as an employer by better serving employee needs.
Strategies:
Evaluate employee demand for a variety of resources including for variable benefits in well-being, fiscal and physical rewards, and flexible vacation time.
Lean into advanced analytics to build fiscal models for offering benefits according to their evolving engagement case.
Technology Deployed
Benefits management
Compensation and financial planning
Workforce planning
VoE — surveys, comms management, and feedback
Workforce assessments
Well-being
Rewards and recognition
Broker management
Use Case Summary
Progressive organizations are curating comprehensive benefits packages that are inclusive of diverse needs. The packages extend beyond standard health benefits to offer severance packages, robust childcare support, extended maternity and paternity leaves, stock options or shares, health sabbaticals, and more. Such a holistic approach to employee benefits not only positions the organization as a desirable place to work but also fosters a culture of care and understanding, ensuring employees feel valued and supported throughout various life stages and circumstances.