Employee benefits and technology trends report
Key employee benefit tech trends
Employee benefit programmes 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, organisations still have significant work to do when it comes to maximising their use of data and analytics.
Benefits Technology 2023 report
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HR teams to focus on data analytics capabilities
The need for benefits technology in the workplace is intensifying, and organisations across the globe are responding, with
69%
of HR professionals planning to increase investment in digital benefit platforms to support benefit administration and communication in the next 1-3 years.
Technology is integral to transforming businesses processes, and adapting at speed in the face of continuous crises, with
89%
of those with benefit tech in place saying it is effective in keeping them agile in the face of change.
Most organisations 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 utilising data to prove how the changes they made impacted employees. A fifth of organisations aren’t using employee data at all in their reporting, and those who are face several key barriers:
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