Benify Insight

Trend to Watch: Helping Employees Achieve Financial Wellness

    One of the trends we have identified in our 2018 HR Trends to Watch summary is that of helping employees achieve financial wellness. With fewer guarantees of economic stability, a greater strain on financial resources, and an increased need to prepare for retirement, employees have a lot on their minds! HR leaders can help ease the stress and help their employees better focus and engage in their roles. Employees are feeling pinched because of various factors: economic realities such as high costs of education and healthcare; responsibilities for aging parents; and even unexpected housing bills. Members of some generations, like Millenials, seem to be particularly worried. According to CNN Money, it's "bringing them down" and affecting their workplace productivity. Overall, we understand that not knowing if one is saving enough for retirement can add to any existing worries about everyday bills. The good news is that HR leaders can play a role in helping their employees reduce the financial stress. Because engagement and performance levels at work can become impacted and because total rewards packages often include overlooked yet helpful benefits, many employers are focusing on promoting financial wellness. You can, too: offer benefits that promote financial planning and retirement saving or remind employees to use what you already offer. You can also arrange workplace sessions with financial advisors; introduce robo-advising tools; or assemble and share a list of online calculators, tip sheets, and articles. Recognize your employees may need support meeting financial challenges and planning for retirement. You can highlight which benefits can help or can offer new alternatives. Assembling guides, calculators, tip sheets, and tools can help reduce employees’ stress, too.

Posted at 2018.01.22

Now Available for Download: HR Trends to Watch in 2018

  There are many stakeholders influencing today’s HR landscape: employees, HR leaders, and the organizations they work for— plus, benefit suppliers, insurance carriers, and technology providers. They all play a role in determining the characteristics of this marketplace. Since 2004, Benify’s innovative technology has been helping companies around the world navigate the dynamic HR ecosystem to make it Great at Work for their employees. Through smart compensation and benefits management, targeted messaging, and an interactive employee experience, we have been offering companies a smart way to realize efficiencies, create dialogue, and improve branding. From what we have witnessed and experienced in this landscape, we predict that 2018 will be the year of the employee. The three trends we are watching focus on how to help them achieve financial wellness, understand their benefit offers, and enjoy their workplace experience. Taking care of the employee has an effect, of course: namely, increased satisfaction, loyalty, engagement, and productivity. Focusing on culture helps boost a company's competitiveness.  The trend snapshot is now available for download here.

Posted at 2018.01.16

Now Available for Download: The Benefits Gap Study

  Attracting, engaging, and retaining workforce talent is one of the biggest challenges facing today’s businesses. It has been widely proven that, failure to do so, will have an adverse impact upon workplace employee turnover rates— resulting in higher business spend in areas of recruitment, onboarding and employee training. The old age solution of investing more in employee compensation spend is, of course, not sustainable over the long term— and, what is more, is quickly losing appeal with the modern employee market. Instead, employers are finding new and innovative ways to create a unique Employer Value Proposition— through a range of flexible and tailored benefit solutions. The possibilities within workplace benefits continue to grow and today’s employers are investing more in healthcare, wellness, work-life benefits, pension, and insurances.

Posted at 2018.01.04

New Whitepaper Available: 2017 Year In Review

  We have learned quite a bit in 2017! When we consider the year, we look back at insights gained from the three key HR tech conferences in London, Amsterdam, and Las Vegas, as well as events we have attended in employer branding, benefits, and rewards. We learned from our partners in many markets and gained feedback from our customers at various events we organized, too.

Posted at 2017.12.18

Employee Engagement Tips for the Holiday Season

During the holiday season, we're all a bit busier than usual. There's so much to do! Gifts to buy, decorations to put up, festivities to attend. However, employee engagement is always important, no matter the time of year or the busy social calendar. We should not be too busy to remember that monitoring and boosting employees' involvement and positive feelings are important. There's an effect on retention, productivity, employer branding and so on. To make it easy, we've started posting our 24 tips to better employee engagement daily. The first three are:

Posted at 2017.12.04

Strengthen Your Employer Brand Daily

Influence how you are seen by your employees— and by everyone else. You can impact how your organization is considered by those on the outside by ensuring your employees on the inside are both satisfied and inspired. After all, a company’s reputation is key to its competitiveness but a reputation must always be protected. The Benify solution ensures that you have a powerful tool to engage your employees and make them understand your investment in and focus on them— from salary and benefits to culture, vision, and career opportunities. This is especially important when companies operate in multiple locations and even countries and the concept of community becomes a challenge.

Posted at 2017.11.27

Benify to talk benefits, EVP, and digital communications at HR Vision, London

HR Vision, London On Wednesday and Thursday of this week, Benify will participate in HR Vision, London, with leadership speaking about applying smart technology to show off the EVP. We will be discussing why focusing on benefits increases employee engagement, and the presentation will show how our research supports reaching employees throughout the employee lifecycle with targeted, impactful information digitally, so as to inspire and boost engagement.

Posted at 2017.11.20

The Right Benefits Can Drive Employee Engagement

How can employers motivate their workforce? Most employers would agree that motivating employees is important; after all, having engaged employees is linked with greater productivity, decreased absenteeism, improved customer service levels and so on. How to inspire employees has shifted from simply focusing on compensation (salary) to viewing total reward. A big part of this total reward is of course benefits. Employers do realize that today’s employee is a complex entity – more mobile than ever, with increasing needs to achieve a work life balance and ever-growing expectations as to what they feel their employer should provide.  What becomes difficult is how to design a benefits and rewards offering that resonates with employees as a whole and  also with subsets based on gender, generation, family status, geographical differences, etc. Employers must evaluate their employee base as a whole but also segment it to determine what would be appealing (and to whom) in order to both attract and retain their talent. Many employers begin by examining what they currently offer and then surveying their talent pool to uncover satisfaction levels and wish lists. 

Posted at 2017.11.13

Boost Employee Engagement Easily

Having engaged employees should be the goal of every organization; however, engaged employees are actually rare. Gallup's most recent global research finds only 13% of employees worldwide are engaged at work. According to the latest State of the American Workplace report, just 33% of employed residents in the United States are engaged at work. Engaged workers differ from their apathetic or uninterested counterparts because of the extra effort they bring to their jobs: The go the extra mile, work with energy and passion, and feel a connection to their company. They are the people who will drive innovation and move your business forward.

Posted at 2017.10.30

Be Eco-Smart With Compensation & Benefits

Decrease your carbon footprint by digitalizing payslips and forms and encouraging environmentally responsible behavior. Eliminate the paper waste, save money, and give your printers a rest. By using a technology solution to digitalize and visualize payslips you avoid the extra costs and processes of printing, packaging, and delivering physical payslips. Digitalizing policies, handbooks, FAQs, and brochures for download by employees means information is stored centrally and is accessible remotely. And with our reimbursement engine, even benefits requiring forms plus receipts can be managed with scans and uploads instead of paper and staples. Furthermore, you can use the Benify portal to support your corporate social responsibility. It’s easy to feature benefits and activities that work to protect the environment such as carpooling, mobility/transportation benefits with incentives for gasoline conservation, and bike rentals. You can even use the smart portal to organize recycling reminders and drives or announce charity events benefiting your favorite environmental causes. The result of Benifying: You’ll signal to your employees that you are not only modern and eco-hip, but socially responsible.

Posted at 2017.10.23

Meet Benify at HR Tech Amsterdam October 24-25

On October 24-25, Benify will take the stage as a main sponsor at the 2017 HR Tech World, this year to be held in Amsterdam. The event draws several thousand HR professionals from all over the world. This year’s theme is the future of work and includes an agenda which explores what it means to live and work in the digital age, as well as the latest trends in strategic workforce planning and key innovations in talent management. Conference participants can stop by or pre-book a meeting to learn more about Benify's innovative technology which increases employee engagement, boosts employer branding, and supports benefit enrollment strategies. The Future of Work, according to Benify, harnesses technology for enhanced personalization and employee outreach, making total reward transparent and management of compensation and benefits available anytime and anywhere. Moreover, Benify's technology can be used to increase knowledge and appreciation of the employment offer, and align the benefit offering to maximize employee engagement and ROI.

Posted at 2017.10.16

Manage Activities Efficiently With Smart HR Tech

Skip the excel spreadsheets when monitoring and reporting registrations, orders, and enrollments. Your HR Departments are often understaffed as employment responsibilities become greater and even more complex. They must keep track of their activities, report on their plans, and prove a return on investment. Some even must monitor employees across time zones. To help ease their burden, we offer: Booking tools- for managing tickets, reservations, and education sessions Summaries- to collect RSVPs and activity registrations Reporting functions- to summarize and communicate benefit orders and activity participation Dashboard view- to analyze benefit take-up rates and portal login activity Our automated tools are designed to be user-friendly and with intuitive interfaces. They will provide your HR managers with the ability to monitor and analyze employees’ behavior plus report on them. The result of Benifying: Your HR Managers will save time and avoid headaches so that their efforts can be better spent bringing people strategies to life.

Posted at 2017.10.02

Take Advantage of Deep, Local Knowledge For Benefits Management

Ensure that your tax, legislation, and compliance needs are met accurately and completely. Since being founded in 2004, Benify’s strategy has been to help HR manage its compensation and benefits better. Understanding local tax requirements, employment legislation, and compliance rules has been key to delivering on our promise. For example, we know that if you have employees in Holland, one needs to understand how to manage a mobility budget and even a wider budget model. In Spain, our technology manages gross salary deductions for health insurance which is a challenge many HR departments meet. In fact, compared to other global solutions, we are the only company with deep local knowledge in multiple countries, and we take our know-how and apply it to any country your employees may be in. The result of Benifying: You’ll be able to manage your employees’ compensation and benefits globally with respect to local requirements.    

Posted at 2017.09.25

Meet you in Las Vegas: HR Tech Conference & Expo, October 10th - 13th

Benify is set to exhibit at the ​20th Annual HR Tech Conference and Exposition to be held in Las Vegas, Nevada in the US on October 10-13th. The event draws several thousand participants and has as its theme: rethinking HR and leveraging technology to succeed. The event programming is filled with opportunities to explore how technology can exceed employee expectations. Benify will be introducing our cloud technology which highlights employee benefits as a key motivator in recruitment and retention and which emphasizes the entire employee lifecycle in creating a positive employee experience. Offered globally but sensitive to local specifications, the compensation and benefits portal helps HR managers understand, fine tune, and report on international benefits strategies and their effect on their employees. Conference participants can stop by or ​pre-book a meeting to learn more about Benify's innovative technology. We offer technology for enhanced personalization and employee outreach globally and make the total reward transparent and the management of compensation and benefits easy and convenient.

Posted at 2017.09.18

Is your workplace ready for the millennials?

A new generation of employees will soon be taking over- and reshaping the world of work. In fact, according PwC´s recent global Millennials survey, the millennial generation – the name given to those born between 1980 and 2000 – will soon account for more than 50% of the global workforce by 2020. Therefore, it’s critical for your business that your workplace is well equipped for this new generation of employees.

Posted at 2017.09.11

Make it Mobile

Give employees the convenience of portal access via their smart phones, whenever and wherever. Because it is a cloud solution, employees are not dependent on your organization’s network for access to their portal. And with the App, they won’t need to log in at a desktop, either— perfect if they’re on-the-go or don’t have access to a computer. They can receive alerts and messages and can even record and submit receipts all in the palms of their hands. While commuting, in between meetings, or over the weekend, your employees can: Register for insurances and benefits Manage their policies and orders Scan and submit receipts Gain advice and guidance Learn about offers and discounts Sign up for activities and trainings Keep on top of company news and events The result of Benifying: Your employees will be sure to engage in their workplace even when they’re far from it.

Posted at 2017.09.04

Unifying Your Employees Can Be Easy

Make your employees understand what it means to be part of your organization, whether they’re located in one or multiple locations— in one country or many. Benify brands the compensation and benefits portal to match your company’s logo and colors and it is given a personal url that relates to your name. Its welcome “landing” page gives all employees— and not just those working at headquarters— a consistent view of your organization. Some examples of how to visualize your identity and increase pride and loyalty in your organization include: State your vision and mission Include a welcome message Display financial statements Present news or links to press releases Incorporate social media feeds Add video messages from management Show film clips of recent activities The result of Benifying: Your employees' sense of pride in your organization grows, and even your far-flung employees will feel like they’re part of the family.

Posted at 2017.08.21

Make Benefits Relevant For Your Increasingly Diverse Workforce

Deliver relevant offers and personalized messages to your diverse employees. Your employees are a collection of talented individuals, belonging to three or four generations and all with different lifestyles, needs, and motivations. One size does not fit all when it comes to what activities, offers, and benefits they seek. MetLife’s 15th Annual U.S. Employee Benefit Trends Study found that demographic shifts are disrupting the workplace and redefining employees’ workplace expectations: The family is changing. From same-sex marriages to an increase in single working women, employee demographics have created big shifts and changing needs. Generational differences are no longer sufficient differentiators. There is a great diversity in needs within these groups: Millennials, Gen Xers and Boomers. Differences in education and salary. Varying levels of education play a serious role in understanding and buying into benefit packages. Those who earn less place a greater value on the role of benefits in providing job satisfaction. The gig economy is real. In an economy that sees disruption more and more frequently, jobs can look more like gigs. Employees expect to have several careers in a lifetime.

Posted at 2017.08.07

At work with a world record holder: Benify’s Jonas Deichmann sets new cycling record

Benify’s very own superstar Jonas Deichmann (30) yesterday became the world record holder for making the fastest cycle across Europe – cycling 6450 km in just 25 days 3 hours and 38 minutes – and smashing the previous record by almost 5 days!

Posted at 2017.07.28

Discover New Ways to Motivate Employees Apart From Salary Raises

Discover new ways to motivate and inspire your employees apart from salary raises. Benify continuously finds and contracts with suppliers to be able to offer clients and their employees benefits such as retail discounts; hospitality and travel deals; gym memberships; health and wellness support; mobility budgets and trade-offs; and much more. Our Benefits Marketplace is available as a way to enhance your benefits offering and keep you competitive as a desirable employer. We even work with our clients to solve their employees’ commuting challenges. For example, we have handled scheduling and ticketing for employee transport busses. It’s common for us to work with you to analyze your employee populations to best find the “extras” you may need. The result of Benifying: You’ll be able to easily attract, retain, and develop the talent you need to safeguard your competitiveness.  

Posted at 2017.07.24

Make Your Employees Smarter About What They "Get"

Show employees what you spend on them, from taxes and vacation days to pension contributions and health subsidies. Employees get much more than just salary- they just don’t know it! From our Compensation Gap study, we found that 8 of 10 employees do not fully understand nor appreciate all that their employer offers. They point to salary and little else. When pressed to give a monetary value of their employer’s investment in them, 66% could not do so accurately. This ignorance and the resulting underappreciation is significant: 33Euros of every 100Euros you spend on your employees is lost. With access to digital payslips plus a graphical visualization of their total rewards, employees are presented the information they need in a manner that is clear and transparent. The result of Benifying: Your employees get smarter about what they “get” from you and won’t rush off to join your competitors, taking their knowledge with them.

Posted at 2017.07.10

Pre-Register to Receive Benify's Benefit Gap Report!

Creating the perfect benefits package for your employees can be tricky if you do not know what your employees want and need. We know that there are three to four different generations at the workplace and that there are increasing differences within each generation. Employees' wishes and needs are also based upon lifestyle, priorities, geographies, and even gender. Knowing your employees is step #1. What do they already appreciate? What benefits do they feel are important? What do they need to achieve a work life balance? Step #2 is aligning this knowledge with HR's activities.  The goal is to create a useful and appreciated employee benefits offer. The thinking is that this will engage and motivate employees, encourage their loyalty, and even make recruitment easier. Benify is launching its latest research based on 15,000 employee interviews and 100 HR department responses. It reveals what benefits are important, why alignment between employees and HR is vital, and to what extent communication helps increase participation. Pre-register for your report today!    

Posted at 2017.07.03

How Smart is Your Employee Benefits Strategy?

We know that employees want their benefits to help them achieve a work life balance, but we also know that they are more diverse than ever-- even within the same generation. This means employers are presented with a challenge of what to include in their benefit offerings and how to communicate this offering so as to reach all their employees. The aim is to increase employee' participation in and appreciation of their employer's offering. The hope is that executing on a benefits strategy properly will inspire employees' loyalty and increase their satisfaction.

Posted at 2017.06.26

Making the Benify portal an employee favorite drives overall engagement

To drive employee engagement, we drive traffic first. Employees’ engagement increases when they understand all that their employer offers in terms of benefits, rewards, perks, and of course culture and activities. At Benify, we capture all these elements in the compensation and benefits portal that we customize for each client. We understand that employees can only maximize their employee experience if they enter and then become comfortable with using their company portal. To help drive log in rates to the portal, Benify has dedicated engagement experts working with insurance carriers and brokers, and the HR managers that depend upon them when designing their benefit packages. Our goal is to understand which benefits and insurances are mandatory, which ones drive work life balance, what activities are key to company culture, and so on.

Posted at 2017.06.19

Benify FAQs: Employee Total Rewards Statement, Part 2

  What happens when an employee does not understand his or her total rewards package? At Benify, we recently unearthed that as many as 80% of all employees underestimate their employer’s investment in them. This means that few employees understand that their compensation includes much more than just salary. This lower level of understanding results in employees not participating in workplace benefits, subsidies or insurance policies. As a result, they can: underappreciate their employer; focus on just salary when considering compensation; miss chances to increase work life balance; and resort to online compensation calculators when evaluating their career opportunities.

Posted at 2017.06.12

Support Employees in Being Outstanding: Meeting the Eurasia Challenge

Supporting Employees in Being Outstanding Benify is a fast-growing global HR-tech company based in Stockholm, Sweden. It provides a digital platform that helps companies improve communication of and participation in total rewards and work life. Benify believes in focusing on and engaging employees as the sure way to nurture talent and improve a company's employer brand and overall performance. As such, it is natural for us to support and sponsor one of our own superstar employees, Jonas Deichmann who works in our Munich, Germany office.

Posted at 2017.06.05

Benify FAQs: Employee Total Rewards Statement, Part 1

What is a Total Rewards Statement (TRS)? A total reward statement will calculate, assemble and visualize the total value of an employee’s compensation package – including everything above basic salary, for example: Benefits Insurances Pensions Tax and fiscal contributions Employer national insurance contributions Any additional compensation (e.g., an employee bonus) Total Rewards Statements are often provided annually by employers to their employees. They are often presented as a printed document or digitally for the employee to access online. A Total Reward Statement does not replace an employee’s monthly payslip or annual salary summary.

Posted at 2017.05.29

Benify to present its research in Stockholm as part of Cornerstone’s 2017 HR. Make It Tour of EMEA

Register to learn how to make HR simple, faster, smarter, better Benify will be participating in Cornerstone’s 2017 HR.Make It tour of 13 European cities, as a partner and speaker at the Stockholm event on June 8th.  The HR.Make It events are educational and focus on the latest trends to improve business processes. HR Professionals can sign up for the Stockholm, June 8th event at the Grand Hotel at no cost. The Benify presentation is titled, “Make it Engaging: Digitalized employee benefits to boost your employer brand.”

Posted at 2017.05.22

Is your employee communication lagging behind?

Smartphones, tablets and now even smart watches: We’re the children of a digital revolution and we expect our employers to keep the pace. Supported by 24/7 easy access and unique targeting tools, mobile devices have become the most effective way to tap into what employees want and to engage with them overall. Mobile experience strategies are a good way to break through the noise and deliver relevance– wherever, however, and whenever your employee logs in.

Posted at 2017.05.15

Benify Your Business With A Proven, Independent HR Tech Partner

Why partner with Benify? No need to strike out on your own. As a benefits consultant or broker, it’s important to find the right, independent technology partner to execute on your vision and optimize your market share. We’re your truly independent partner. We’ve helped many experts within the HR industry make it Great at Work both for themselves and their clients. We work with you to bring value to your clients- without making money from any benefits or insurances we make available to their employees. That means increased reach and sales; less administration and headache; and no hidden fees and agendas.

Posted at 2017.05.08

Teva's Improved Employee Engagement & Employer Branding

Founded in 1901, Teva is now a global market leader within the pharmaceutical industry – and manufacturer of more than 64 billion medicinal capsules each year. Catering to an extremely international workforce, Teva required a technology solution to present and manage its employee benefits offering- including recent tax changes, and it sought a way to inspire employees to engage in their total rewards.

Posted at 2017.05.01

Benify and Athlon Introduce a Flexible Mobility Solution in the Netherlands and Germany

Benify and mobility provider Athlon launch a new mobility proposition in the Netherlands and Germany. The benefit is available through the Benify compensation and benefits portal, which allows employees added convenience in managing their yearly transportation budget anytime and anywhere. The solution encourages employees to make eco-friendly and efficient choices in order to travel from point A to point B— while not limiting their mobility options. 

Posted at 2017.04.24

Introducing Benify's new report: the top 10 most popular employer benefits

How does the modern employer approach their employee benefits and rewards strategies? Employers realize that today’s employee is a complex entity – more mobile than ever, with increasing needs to achieve a work life balance and ever-growing expectations as to what they feel their employer should provide. To design a benefits and rewards offering, employers are forced to evaluate their employee base as a whole and determine what would be appealing to both attract and retain their talent.

Posted at 2017.04.19

Case Study: How Scania Kept Its Position as an Attractive Employer

Scania is a leading manufacturer of trucks, busses, and industrial and marine engines. Today, the company has over 44 000 employees around the world and sales in over 100 countries.  As the world becomes smaller, the competition increases when it comes to attracting, developing, and retaining the market’s best employees. To maintain its position as an attractive employer, the company must be innovative and be in the forefront in terms of what they offer to their employees.

Posted at 2017.04.10

Case Study: How Swedavia Attracts and Retains Talent

The state-owned company Swedavia owns, operates, and develops ten airports in Sweden, from Kiruna in the north to Malmö in the south. This network of airports not only connects places in Sweden, but acts as Sweden’s gateway to the world. Swedavia was formed in 2010 and in 2015 alone, 37.6 million passengers travelled to and from the company’s airports. The company employs more than 3,300 people and turned over SEK 5,416 million in 2015.

Posted at 2017.04.03

Benify and L'Oréal Germany win together at the HR Excellence Awards

Benify together with L'Oréal Germany, has been awarded one of the main prizes at the prestigious HR Excellence Awards held in Berlin, Germany. Both companies’ efforts in successfully implementing the My HR Reward Portal surpassed those of competitors from several top European companies. Their collaboration resulted in their taking home the prize in the "Compensation & Benefits" category.

Posted at 2017.03.23

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