Benefits platforms underused as employers fail to unlock workforce insights

Many UK employers are using employee benefits platforms to improve access to workplace benefits, but far fewer are taking advantage of the data and communication tools that could help shape future wellbeing strategies, according to new research from Everywhen.

The survey of 500 UK HR decision-makers found that employers primarily value benefits platforms for improving the employee experience, with 36 per cent saying they make it easier for employees to see all of their benefits in one place and the same proportion saying they make benefits easier to use.

A further 34 per cent said the platforms allow employees to access benefits at any time, while 30 per cent believe they help staff make more informed decisions about which benefits to choose.

However, the research suggests many organisations are overlooking the wider strategic value of the technology.

Less than one-third (32 per cent) of employers said they use benefits platforms to analyse and understand employee benefit utilisation, while just 28 per cent use them as a tool to communicate benefits to employees.

Everywhen said this represents a missed opportunity, with many platforms capable of integrating with HR systems to provide reporting on employee engagement and benefits uptake.

The findings come at a time when employers are under increasing pressure to demonstrate the return on investment from workplace wellbeing programmes and employee benefits.

Richard Doig, client director at Everywhen, said employers should look beyond the administrative benefits of the technology.

“Employers should not underestimate the value that benefits platforms can bring to the business as well as to the employees themselves,” Doig said. “Yes, they simplify benefits management, saving time and money in terms of admin, and this is great, but there are also many other vital aspects.”

He added that better use of platform data could help employers understand employee needs and make more informed decisions about future benefits investment.

“Benefit platforms can bring much greater, quantitative insight into the needs and behaviours of employees. This can help businesses to make informed choices and develop strategic plans on which benefits to offer, so they gain the greatest possible returns on the investment.”

The report also highlights the role benefits platforms can play in improving employee engagement.

According to Everywhen, making benefits easier to access and understand can increase uptake of wellbeing support, retail discounts and other workplace benefits that employees might otherwise overlook. It also argues that tools such as Total Reward Statements can help employees better understand the overall value of their reward package, supporting engagement, retention and recruitment.

Doig concluded that employers should regularly review whether they are making full use of the functionality available within their benefits platforms.

“A platform should support the wider objectives of the business as well as the employee experience” he said. “Employers who make effective use of both the employee-facing and management capabilities of their platform are likely to be better placed to understand workforce needs and make informed decisions about future benefits provision.”