Digital benefits platforms

Under pension salary sacrifice, an employee gives up or ‘sacrifices’ part of their salary, which their employer then pays into the employee’s pension,...

The future of benefits

The journey to digitalisation

In recent years, digitalisation has become the latest business buzzword – and the Covid-19 pandemic has speeded this up.

In fact, a survey carried out by McKinsey in October 2020¹ found that the pandemic has hastened companies’ adoption of digital technologies by several years, with the changes likely to remain in place for the long haul.

Most respondents recognised technology’s strategic importance as a critical component of their business, not just a source of cost efficiencies.

¹COVID-19 digital transformation & technology | McKinsey

Why digitalise?

If you’re considering digitalisation, what benefits can you expect?

Digitalisation can transform businesses in some obvious ways: increased efficiency (no more spreadsheets to keep track of, or paper to scan), portability and accessibility of information, improved decision-making due to better data, and increased customer satisfaction thanks to better record-keeping and speed of response.

There’s also the simple fact that your competitors are likely to be moving towards digitalisation, so if you’re not thinking about it, you may well get left behind.

Why use a digital benefits platform?

Why use a digital

benefits platform?

Each year, your HR team could be spending hundreds of hours overseeing the renewal process for your different employee benefits and transferring data to the providers.

If an employee needs to call on one of their protection benefits, it's crucial to have accurate data. However, submitting data is time-consuming, complex and can be liable to human error.

The answer? A digital benefits platform.

A digital benefits platform could have significant advantages for you and your employees.

Digital benefits platforms in context

When considering digital transformation, you need to bear all your systems and processes in mind.

Alongside major IT projects such as computing and telephony, or a move to cloud-based file storage and sharing, other smaller changes can bring disproportionate rewards to core teams within your business.

For your HR and/or Reward team, a move to a digital benefits platform could be revolutionary in terms of increased efficiency and insights gained.

Not just a platform

The administration saving achievable through a digital benefits platform is often quoted as the main reason to implement one, but we disagree.

Benefits platforms aren’t just about time saved for your business (although that’s a big plus!). They can also help you

Engage your employees with your benefit offering
Increase transparency of what’s available
Provide better access for employees to make changes to their benefits

and of course, they help create valuable process efficiencies for your team along the way.

As well as hosting your employee benefits, you can link your platform to other business processes – for example, if you have an employee mental health proposition, you could use your platform to communicate it.

Choosing a benefits platform

Our experts look at the whole of the market to recommend the best platform for each client.

Instead of being limited to just one proprietary solution, we take a different approach.

Whether you need an off-the-shelf version or something tailored to your company's needs, we'll talk to you in detail and understand your requirements to ensure we recommend the optimum platform for you and your employees.

Whichever route we recommend, we'll fully support your digital benefits journey. And you can rest assured that all platform implementations are project managed by one of our Prince2 qualified project managers, who will work alongside you to help keep it running smoothly.

Pricing varies depending which platform you choose and what you want it to do, but we'll help negotiate the optimum price for you from the chosen provider.