How the employee benefits market is going digital
| Date | 12 February 2018 |
| Pages | 33-38 |
| DOI | https://doi.org/10.1108/SHR-12-2017-0084 |
| Published date | 12 February 2018 |
| Author | Nicky Dunderdale |
| Subject Matter | HR & organizational behaviour,Employee behaviour |
How the employee benefits market
is going digital
Nicky Dunderdale
Abstract
Purpose –Nicky Dunderdale, Directorof Digital at Psyon, says there is a growing industry demandfor
intuitive, digital solutions to drive change and transformation in employee benefits to improve the
managementand communication of employee benefits– a demand thatis set to accelerate.
Design/methodology/approach –In her paper, Nicky examines the following: Why is technology
required for employee benefits?What can be done to improve engagement with employees? How can
companies use data to delivermore tailored benefit packages to their employees and make themost of
their benefitspend? How are companies measuringROI on their technology investment?
Findings –In the words of David D’Souza, Head of Engagement at the CIPD, “The credibilityof HR
in the future will depend upon its ability to utilise traditional skills in combination with tech
capability to deliver enhanced performance. There is no longer an opt out of the technology
conversation”.
Originality/value –This paper is an essentialreading for HR professionals and employerslooking to use
their rewardand employee benefits strategiesto recruit and retain the best talent.
Keywords Employee engagement, Technology, Benefits, Engagement, Rewards
Paper type Viewpoint
One of the biggest challenges for UK employers is how to hold on to their talent in
today’s competitive employmentmarket.
The CIPD’s “Recruitment, Retention and Turnover[1]” survey published in 2017
highlighted that the number of employers experiencing retention problems rose from 69
per cent in 2016 to 78 per cent in this year’s survey. Private sector businesses claimed
to be struggling more to hold on to employees than any of the other sectors
(83 per cent).
Many companies are rethinking their existing reward and employee benefits strategies to
ensure they offer the most compelling employee health, protection and well-being benefits
to recruit and retain the best talent.
In recent years, major innovationsin technology have evolved the employee benefits market
significantly.
According to Employee Benefits/Xerox HR Services Benefits research published in
June 2016, over two-thirds (68 per cent) of employers claimed they were using digital
communications to improve their employees’ engagement with their benefits.
We are also seeing a growing industry demandfor intuitive, digital solutions to drive change
and transformation in employeebenefits and improve the management and communication
of employee benefits, and we believe this demandwill accelerate.
According to David D’Souza, Head of Engagement at the CIPD, “The credibility of HR in
the future will depend upon its ability to utilise traditional skills in combination with tech
Nicky Dunderdale is
Director of Digital at the
Unique Data, Analytics and
Technology Business,
Psyon, Redhill, UK.
DOI 10.1108/SHR-12-2017-0084 VOL. 17 NO. 1 2018, pp. 33-38, ©Emerald Publishing Limited, ISSN 1475-4398 jSTRATEGIC HR REVIEW jPAGE 33
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