1
Global employers spend on average 20-22% of employee salary on benefits, a significant investment, yet many firms struggle to communicate and engage employees on their benefits programs. Having an innovative benefits strategy aligned to culture and business goals is a significant differentiator for global organizations looking to engage and retain their best talent. HOW TO REVAMP YOUR GLOBAL BENEFITS IN 2016 Only 51% of multinationals have a global benefits strategy Create a global benefits strategy aligned with your business goals And over half say that aligning benefits practices with business goals is a key objective Just over half of benefits professionals are burdened by a high level of administration 49% of companies are struggling to report globally on benefits 52% do not have a centralized approach to manage benefits 52% do not have a centralized approach to technology 47% of employers spend up to 6 days per country on benefits admin 35% have difficulty communicating ROI to key stakeholders By 2020 millennials will make up three quarters of the global workforce 2 57% of employers are struggling with demonstrating the value of total reward of CEOs say it’s critical for HR to play the role of high-impact business partner 1 Rethink your benefits offering – one size doesn’t fit all Align benefits practices internationally Develop an effective communications strategy Choose the right benefits technology Conclusion 45YO male with family 21YO female graduate 33YO female 60YO male Health screening Paternity leave Child care vouchers Student loan payments Gym membership Free drinks on Fridays Mortgage benefit plan Fitbit Spa weekends Medical insurance Pension and retirement plan Sabbatical But currently ONLY of companies are using mobile apps to communicate about benefits of online adults globally now own a smartphone 3 will still comprise generations of employees up to four BUT But how can you deliver personalization when juggling disparate data, manual systems & inconsistent approaches in different countries? BY IMPLEMENTING A CENTRAL ROBUST AND SCALABLE GLOBAL PLATFORM Minimize risk and aid compliance Reduce time spent on administration Demonstrate the value delivered by HR to the wider business Personalization and programs flexibility will be critical so employees can choose the benefits that matter to them INTEGRATING SYSTEMS INTO ONE ONLINE PLATFORM WILL: Giving you access to analytics through consistent, accurate employee & company data SIGN IN Employees want access to online benefits portals anywhere, at any time, on any device SIGN UP for our webinar series “How to Revamp Global Benefits in 2016” to learn more – February 17 th & March 9 th SHARE THIS @ThomsonsOnline https://www.linkedin.com/company/thomsons-online-benefits www.thomsons.com SOURCES 1 Holley, N. (2014, September) What CEOs want from HR. Henley Business School http://www.henley.ac.uk/files/pdf/research/research-centres/Research_-_What_CEOs_want_from_HR_Sept_14_WEB.pdf 2 Weber, B. (2013, September). By The Year 2020, Almost Half Of The Workforce Will Be Made Up Of These People. University of North Carolina Kenan-Flagler Business School. http://www.upworthy.com/by-the-year-2020-almost-half-of-the-workforce-will-be-made-upof-these-people-5 3 http://techcrunch.com/2015/01/12/80-of-all-online-adults-now-own-a-smartphone-less-than-10-use-wearables/ 4 Bersin by Deloitte, 2015. Global Human Capital Trends 2015 – Leading in the new world of work 5 Bersin by Deloitte, 2016. 10 Predictions to Guide Your Talent Strategy in 2016 http://marketing.bersin.com/predictions-for-2016.html Accompany technology spend with re-designed processes and re-train your HR staff to maximize your investment 4 of organisations achieve a more accurate view of global benefits spend after implementing benefits management software Technology is a powerful global platform to create an exciting and engaging experience for employees around their benefits. Tech-savvy workers want user-friendly, mobile-centric and accessible information. plan to increase benefits technology spend ALMOST HR’s role will soon transform to become Chief Employee Experience Officers 5 , responsible for curating and communicating tailored experiences which reward and motivate global workforces. The 4 biggest drivers of innovation in benefits technology are: User Experience Efficiency Data security Analytics (pre-1945) (1945-1960) (1961-1980) (1981-1995)

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Page 1: GLOBAL BENEFITS IN 2016 - Thomsons Online Benefits · plan Fitbit Spa weekends Medical insurance Pension and retirement plan Sabbatical But currently ONLY of companies are using mobile

Global employers spend on average 20-22% of employee salary on benefits, a significant investment, yet many firms struggle to communicate and engage employees on their benefits programs. Having an innovative benefits strategy aligned to culture and business goals is a significant differentiator for global organizations looking to engage and retain their best talent.

HOW TO REVAMP YOUR GLOBAL BENEFITS IN 2016

Only 51% of multinationals have a global benefits strategy

Create a global benefits strategy aligned with your business goals

And over half say that aligningbenefits practices with business goals is a key objective

Just over half of benefits professionals areburdened by a high level of administration

49% of companies are struggling to report globally on benefits

52% do not have a centralized approach to manage benefits

52% do not have a centralized approach to technology

47% of employers spend up to 6days per country on benefits admin

35% have difficulty communicatingROI to key stakeholders

By 2020 millennials will makeup three quarters of the global workforce2

57% of employers are struggling with demonstrating the value of total reward

of CEOs say it’s critical for HR to play the role of high-impact business partner1

Rethink your benefits o�ering – one size doesn’t fit all

Align benefits practices internationally

Develop an e�ective communications strategy

Choose the right benefits technology

Conclusion

45YO male with family 21YO female graduate 33YO female 60YO male

Health screening

Paternity leave

Child carevouchers

Student loanpayments

Gym membership

Free drinks onFridays

Mortgage benefitplan

Fitbit

Spa weekends

Medical insurance

Pension andretirement plan

Sabbatical

But currently ONLY of companies are using mobile apps to communicate about benefits

of online adults globally nowown a smartphone3

will still comprisegenerations of employees

up to fourBUT

But how can you deliver personalization when juggling disparate data, manual systems &inconsistent approaches in di�erent countries?

BY IMPLEMENTING A CENTRAL ROBUST AND SCALABLEGLOBAL PLATFORM

Minimize risk and aidcompliance

Reduce time spenton administration

Demonstrate the value deliveredby HR to the wider business

Personalization and programs flexibility will be critical so employees can choose the benefits that matter to them

INTEGRATING SYSTEMS INTO ONE ONLINE PLATFORM WILL:

Giving you access to analytics through consistent, accurate employee & company data

SIGN IN

Employees want access to onlinebenefits portals anywhere, at anytime, on any device

SIGN UP for our webinar series “How to Revamp Global Benefits in 2016” to learn more – February 17th & March 9th

SHARE THIS

@ThomsonsOnline

https://www.linkedin.com/company/thomsons-online-benefits

www.thomsons.com

SOURCES1 Holley, N. (2014, September) What CEOs want from HR. Henley Business School http://www.henley.ac.uk/files/pdf/research/research-centres/Research_-_What_CEOs_want_from_HR_Sept_14_WEB.pdf

2 Weber, B. (2013, September). By The Year 2020, Almost Half Of The Workforce Will Be Made Up Of These People. University of North Carolina Kenan-Flagler Business School.http://www.upworthy.com/by-the-year-2020-almost-half-of-the-workforce-will-be-made-upof-these-people-5

3 http://techcrunch.com/2015/01/12/80-of-all-online-adults-now-own-a-smartphone-less-than-10-use-wearables/

4 Bersin by Deloitte, 2015. Global Human Capital Trends 2015 – Leading in the new world of work

5 Bersin by Deloitte, 2016. 10 Predictions to Guide Your Talent Strategy in 2016 http://marketing.bersin.com/predictions-for-2016.html

Accompany technology spend with re-designed processes and re-train your HR sta� to maximize your investment 4

of organisations achieve a more accurate view of global benefits spend afterimplementing benefits management software

Technology is a powerful global platform to create an exciting and engaging experience for employees around their benefits.

Tech-savvy workers want user-friendly, mobile-centric and accessible information.

plan to increase benefitstechnology spendALMOST

HR’s role will soon transform to become ChiefEmployee Experience Officers5, responsible forcurating and communicating tailored experiences which reward and motivate global workforces.

The 4 biggest drivers of innovationin benefits technology are:

UserExperience

Efficiency

Datasecurity

Analytics

(pre-1945) (1945-1960) (1961-1980) (1981-1995)