Flexible benefits have revolutionised the employee value proposition (EVP).
To help drive employee engagement with flexible benefits, a robust platform facilitates greater choice and control for employees over their compensation packages.
However, the success of your flexible benefits programme can hinge on the platform you select. When selecting an appropriate platform for your business, it is important to arm yourself with the insights and data available to make the right decision and avoid buying blind.
To fully maximise the potential of employee benefits and supporting technology, employers must prioritise user experience (UX) – how employees experience benefits significantly affects overall engagement.
What can flexible benefit platforms offer employers?
Flexible benefits platforms are crafted to provide simpler administration for HR teams, while improving employee engagement through a seamless and accessible digital experience.
Flexible benefits platforms can help companies:
Expedite HR administrative tasks
Improve employee wellbeing
Increase the uptake of employee benefits
Facilitate quicker, easier access to benefit information and selection for employees, including via SSO
Schedule employee benefits communications
Articulate and position their overall compensation packages, beyond just salary
However, flexible benefit platforms are high cost, and providers are typically contracted for between three and five years as a standard minimum. If a substandard platform is introduced, a company can suffer from various negative consequences. Installing a UX-friendly, engaging, and operationally effective platform is imperative; research shows that 20% of HR leaders (opens a new window) attribute poor benefits uptake due to insufficient onboarding.
How UX shapes employee benefits platforms
In today’s digital workplaces, how employees experience and interact with their benefits significantly affects overall engagement levels. The UX of a flexible benefits platform should be the cornerstone of employee benefit engagement and uptake strategies.
The dominance and ubiquitousness of modern technology in our everyday lives has resulted in employees transferring similar expectations to their digital experiences at work. For employers offering flexible benefits platforms, the UX of how employees manage and access their benefits requires technology comparable to what staff use outside of the workplace. If a flexible benefits platform fails to meet the mark it can drain resources, damage trust within the organisation, and become a hidden barrier to progress.
Employees can feel more valued and motivated with a positive UX. A flexible benefit platform with superior UX will: streamline processes, make discovering and accessing benefits intuitive, consolidate services to a single source, and establish clear and simple communication throughout.
It is also valuable, if possible, to continuously gather UX feedback on platforms and implement any necessary changes. Collecting UX insights enables employers to remain responsive to shifting employee expectations and technological advancements, while ensuring platforms retain their relevance and usefulness.
Flex IQ: empowering your business with data analytics
Flex IQ is a new tool that enhances the consultancy offering from Lockton’s People Solutions Team.
Helping buyers make better, more informed decisions, Flex IQ can provide our clients with:
A new perspective and understanding of the flexible benefits market
Objective, actionable data that empowers decision-making
Innovative insights to maximise your EVP
Utilising data provided by BehindLogin, Flex IQ offers unparalleled insights into the proficiency and viability of key flexible benefit platform providers. These analytics can provide novel insights and a fresh outlook on the UX of employees engaging with their flexible benefits platform. Even if your business is not considering a change in platform provider, you can benefit from insights/feedback on real-life UX.
Find out more information on what Flex IQ can offer your benefits programme here (opens a new window), or reach out to a member of the Lockton People Solutions Team (opens a new window).
