Companies also must take more creative approaches to their benefits programs. We’ve worked with one global manufacturing company to create a “marketplace” for its workforce. Each employee receives a pre-paid debit card to spend on the company-sponsored benefits that best fit their needs. They may use some of the money to cover the cost of education for themselves or their kids, make additional contributions to their retirement account, or use some other wellness benefit.
Companies must reimagine their wellbeing benefits to be more integrated, creative, user-friendly, and above all, personalized. This evolution will result in better outcomes for employees, while also improving cost efficiencies and the bottom line. Now is the time for the C-Suite to look across its workforce, assess what employees need as individuals, and implement technology to create a stronger, healthier employee experience.