Key employee benefit tech trends
Employee benefit programs and the teams that deliver, manage and report on them have been thrust into the spotlight, with increased C-suite attention. The importance of providing a globally-consistent employee experience has also grown exponentially, accelerated by the pandemic. Wellbeing was unsurprisingly a key focus in terms of support and funding, and investment in employee benefits and technology increased across the board. However, organizations still have significant work to do when it comes to maximizing their use of data and analytics.
Never before have organizations reported such year-on-year changes
- 85% making changes to their benefits offering in response to the pandemic
- 80% reporting a change in the benefits their employees are using
- 72% spending more on benefits per employee
- 60% increasing investment in employee wellbeing
Employee benefits and technology trends
Have you kept your team connected, engaged and supported? Learn more across our tech trends content:
HR teams to focus on data analytics capabilities
Most organizations made changes to their benefits in response to the pandemic, with more than 7 in 10 increasing spend overall. Yet with this increased cost, comes more scrutiny—88% of HR and benefits teams have seen more involvement from the C-suite. Our findings show employers struggled with utilizing data to prove how the changes they made impacted employees. A fifth of organizations aren’t using employee data at all in their reporting, and those who are face several key barriers:
A bar chart showing the top blockers employers face when it comes to using employee data to report on employee benefits, including concerns around the storage and use of employee data, too many data sources and lack of time on the HR team.