An overwhelming 84% of organisations felt that delivering a globally consistent employee experience was their highest priority for the next 12 months. As the world becomes more and more connected, and DEI initiatives top the agenda, delivering a globally consistent and equitable employee experience is more important than ever for hiring top talent, improving retention and keeping employees engaged with their benefits.
Consistency brings with it not only economies of scale, but a more efficient approach to data management, administration, communications and technology. 85% of organisations confirmed they had either already centralised their benefits operations, or that they plan to within 1-3 years.
The benefits of this unified approach is not limited to tech and operations, it rings true across the entire benefits ecosystem. That’s why 45% of respondents are looking to consolidate their benefits technology and brokerage/consultancy with a single adviser in the next 12 months, and a following 43% over the next 2-5 years.
A growing number of organisations globally are looking to capitalise on the potential of AI for more detailed and accurate analytical insights about their employee population.
When asked if they planned to use AI in relation to HR and benefits specifically, 85% of employers said they are either currently using AI or plan to do so within the next 12 months, with 52% saying investment in AI was becoming a higher priority. Advanced and predictive analytics to make more informed decisions about and for employees was seen as the main opportunity.
Employers are looking to use AI to capture, manage and analyse data-driven insights about their employee base. With analytics, HR departments can go far beyond tracking the success of a benefit or the preferences of a region. They can create and track benefit profiles, allowing them to gain a deeper understanding of benefits usage across their organisation and target communications, or switch up schemes accordingly.
HR departments equipped with AI analytics capabilities can see in near real-time how changes to the cost of living are impacting the uptake of their benefits offerings and identify gaps and differences by region. With strong analytics, HR managers can assess and report benefits return on investment to internal stakeholders, confirming their impact in a time of rising benefit costs.
is Digital Growth Leader at Mercer Mash Benefits
