With new technologies poised to change everything from compliance training to how the office thermostat gets set, many leaders are wondering how these same tools can be used to bolster human capital at their organizations. One area that is particularly in need of improvement is employee engagement. After all, 85% of employees globally are either not engaged or actively disengaged at work, translating to roughly $7 trillion in lost productivity, according to the most recent Gallup poll.
In this blog, we’ll look at two strategies that leading organizations can use today to capitalize on opportunities that technology creates for HR services — and ultimately gain competitive advantage.
Personalize and target perks and benefits to each employee
Employers need to provide more than cash to attract and retain workers. Employees who are seeking a job look closely at the benefits and perks offered and value those as top considerations before accepting a job. Many employers today are trying to differentiate themselves from their competitors by offering their employees perks like indoor rock climbing walls and free snacks — or even massages. For organizations that already have a strong employee value proposition (EVP), perhaps this approach makes sense. Simply put, an EVP captures and articulates the features, attributes, benefits and opportunities available when an employee considers joining and staying with an organization.
A comprehensive benefits and perks, or total rewards, package that supports an organization’s EVP needs to be designed in a meaningful and impactful way to drive the right level of employee engagement and awareness. Each employee will use the programs offered by their employer differently based on their own personal needs at any given time. Absent the personalization of the full suite of benefits and perks offered, the overall value may be lost.
So the question is: Do employees understand all that is offered to them and is it personalized to their specific needs?
Instead of focusing on the transactional aspects of service delivery, forward-thinking employers are focused on delivering a more personalized, digital user experience through the use of data analytics. To ensure our clients are offering their employees an effective and impactful experience, Conduent begins by considering the following questions:
- Do we know the user?
- Is the experience built around the user, and not the process to capture the transaction?
- Does the experience learn from me, and therefore, continuously improve my experience?
- Do we hear from all employees and share with employees who have similar experiences?
Ultimately, the goal of a trusted partner should be to help employers design a program that supports their EVP and demonstrates their commitment to their employees. By delivering the full value of a total rewards package in a personalized way, employers send a clear message to employees that they’re investing in every aspect of their well-being.
Summarize and present the full value of your company programs
After designing a comprehensive total rewards package to attract and retain employees — including traditional and non-traditional rewards and benefits — it’s important to summarize your program for employees in a way that is intuitive, simple and relevant, and conveys your full investment in them. For example, Conduent’s proprietary Life@WorkTM framework aggregates content and data from multiple sources to not only deliver a personalized and targeted snapshot to each employee, but deliver it at a time that is most relevant to the employee. Tools like this, that are easily accessible on any device (computer, mobile, or tablet) and available on-demand, give employees a 24/7, 360o view of their package that is personalized and meaningful to them.
Through a personalized and comprehensive, technology-enabled benefits and rewards package, organizations will differentiate themselves against the competition and become a destination employer. The end result: an organization that bolsters the best and brightest talent — and keeps them engaged too.