4 out 5 employees prefer additional benefits over a pay raise. Therefore, it is more important than ever that employers personalize their rewards and give employees the rewards they desire to retain top talent.
Seen a shift in favor of personalized reward strategies. How?
Redeem your points
Online platforms make it easier to manage multiple rewards. Online platforms allow companies to manage multiple benefit programs quickly and efficiently. This makes it easier to offer employees different rewards at once.
Employees can also access data and information about savings that they have received, as well as find out what other schemes are offered by their employer. Employees can choose the rewards they are interested in and tailor their benefits plans to suit their needs.
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Employers can now provide information to employees via online platforms about any other benefits that the company does not offer. The employer will then be notified that employees have registered their interest in particular schemes. Employers can make informed decisions about their future reward strategy if they know the benefits that their employees are looking for.
Artificial intelligence has made it possible for AI to suggest schemes that employees might be interested in, based on their personal information. The employee can then keep up-to-date with the benefits offered by their employer.
Giving the Right Benefits
It is easier to provide employee benefits that are engaging with employees using technology. It is possible to gather data about the benefits that employees search for online so that the business can determine which rewards are most effective within their organisation. This data will enable employers to maximize their budgets and drive higher productivity within their business.
It doesn’t have to be difficult to offer personalised and varied rewards. You can use technology to determine the value of your employees to provide the right benefits and improve management.
Bravo Benefits’ Smart Hive platform makes it easy to use and accessible online. Smart Hive allows you to provide access to your employees, fulfilling your responsibility to share benefits to all employees, as required by many HMRC-approved schemes. Smart Hive offers access to salary sacrifice plans for cycle to work and car leasing.