Organizations are frequently judged by their employee’s well-being. Driven by this, companies are always looking to embrace disruptive technology advancements to turn over a new leaf in their employee benefits endeavors. The Bureau of Labor Statistics projects that by 2025, the U.S. corporate workforce would comprise of more than 19 million millennials. And because of their digital savviness, the workforce would be drawn toward companies that offer digital solutions for medical insurance, vacation, profit sharing and retirement benefits.
To support the Gen Y workforce and keep the workforce productive, businesses need to look at different aspects of employee benefits like overtime, medical insurance, vacation, profit sharing, salary exchange, 401 (k), and retirement benefits. However, there is no one-size-fits-all when it comes to employee benefit initiatives and programs. Every organization and individual’s needs are different. By tailoring programs to engage employee interests and increasing awareness to drive program usage, organizations realize improved outcomes and increased business performance.
From the elementary shift of paper-based data management to cloud-hosted repositories, the solution providers have come a long way to providing interactive and engaging employee portals, time and labor management, analytics tools that mine for employee recognition details, and integrated mobile-based self-service software. These software suites are adding a completely new dimension to the way top management manage employee benefit programs.
To support CIOs, HR Tech Outlook collaboration with a distinguished panel comprising CEOs, CIOs, and analysts helps CHROs with a list of leading employee benefits solution providers. We present to you HR Tech Outlook’s “Top 10 Employee Benefits Solution Providers – 2019.”