The relationship dynamic between employees and employers is more complex than ever. Employees are struggling to meet the demands of work and family, and those challenges have mounted to create a perfect storm of financial hardship, mental stress and health concerns. For their part, employers are striving for greater productivity and increased margins, but those are predicated on having an engaged workforce that clearly wants, and desperately needs, more flexibility and support.
The time for employers to act is now. We know there is a direct, positive correlation between the financial success of a company and employees’ perception of their work experience. Engaged, cared-for employees who feel that the company is working for them will take a more active role in its growth.
So how do companies successfully place employees at the center and meet their business imperatives? The answer lies in the data. Imagine the possibilities when AI and machine learning optimize workforce management and allow companies to reward people faster, provide them with personalized retirement and financial solutions, and even anticipate their healthcare needs. Employee-centric platforms can connect the dots between people, work and life to navigate choices, drive smarter decisions and create impactful experiences.
In a time when there are few levers left to help companies address the rising costs and complexity associated with HR and employee benefits, optimizing experiences using data is often an untapped resource. Most companies have stores of employee data – from health and financial information to performance metrics. And the good news is, employers are among the most trusted sources of information (right after family and friends) and employees are willing to provide access to more of their data in return for better, bespoke wellbeing tools and resources.
At Alight, we believe there is an incredible opportunity for companies to better use their own data to increase employee engagement and alleviate some of the pressures placed on their people, while simultaneously unlocking value and improving business outcomes.
Now is the time for employers to create the personalized environments where people want to work…and thrive.