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The digital future of employee benefits schemes in the UK

September 13, 2023

Employers wishing to achieve success in business rely heavily upon their workforce to deliver against their KPIs. Failure to do so not only jeopardises their individual projects but can have a profound knock-on impact on the success of strategic milestones and overall business success.

It is essential that modern businesses realise the greatest levels of employee engagement possible. Moving with the times can help businesses to overcome recruitment and retention challenges and create a high performing workplace culture.

In order to create and nurture just such a culture, it is essential that the strategy for attracting and retaining the top talent is sound, enduring and adaptable to changes in the business' operating strategy and the ever-shifting recruitment landscape.

UK employers are realising with increasing regularity that in order to attract and retain the strongest performing individuals, they must embrace digital communications, and this includes promoting and accessing their employee benefits online.

Why employee benefits are important for success

When the COVID-19 pandemic hit, many workers had to adapt overnight to a new normal; to a new way of operating and a new way of doing business. For some, this challenge proved overwhelming, and 88% of young workers reported that loneliness from enforced home working had an adverse impact on their mental health [1].

After COVID came the Great Resignation [2], in which thousands of UK employees voluntarily resigned from their positions, with many quoting stress and burnout as the reason they needed a change. This phenomenon was quickly followed up by Quiet Quitting [3], in which staff who did not want or could not afford to leave their jobs began coasting and doing only the bare minimum that was required of them.

It is clear to see that the past three years have been challenging, and UK recruitment statistics, though improving, are nowhere near pre-COVID levels [4]. Workers are stressed and prioritising their mental health, so they are choosing positions that offer holistic benefits packages over those that merely offer an attractive salary.

Employers wishing to attract and retain the top talent need to recognise the instability of the recruitment market and give employees what they want - a comprehensive benefits package that supports their financial, emotional, physical and mental well-being. They also want this package to be effective immediately and accessible remotely.

Putting employee benefits online

Putting employee benefits online not only addresses the needs of the workforce, but it simplifies the administration burden for the business. When a business selects an app-based employee benefits program, they receive an easily accessible service which increases employee engagement and delivers valuable data-driven insights to continually drive success.

Employees are able to access information about the benefits that are available to them using a simple and intuitive online portal from their personal device, personalise their benefits hub and access bespoke solutions that are tailor made to satisfy their needs. This increases utilisation, uptake and appreciation of the offerings.

Employee benefits communication

In order for employee benefits to deliver the intended result, staff must first know that they exist. Businesses that choose the Terryberry employee benefits solution can exploit tailored engagement and seamless integration with their existing systems, which immediately simplifies the process of employee benefits communication.

Once staff are added to the benefits hub, communications can be carried out through the app in a targeted manner. Businesses can ensure that employees are educated as to the benefits that are available to them, supported with appropriate training, and regularly updated about changes and new offers.

By providing employees with interactive tools and informative content, their curiosity will be piqued and they are more likely to keep themselves informed, engage voluntarily and maximise utilisation of the app.

Hybrid approach to communication

At Terryberry, we recognise that not all employees will be immediately welcoming of an app-based benefits portal, so we ensure that businesses are supported in rolling out this benefits solution effectively, communicating across a range of media and promoting the benefits and safeguards that the app-based solution provides.

In conclusion, businesses that wish to adapt to the modern way of doing business and secure the necessary talent that they need to not only survive, but to thrive, will need to design and deliver a holistic benefits package that satisfies the needs of employees.

Terryberry can help businesses to implement a modern and future-proof portal which meets the diverse needs of the workforce and helps all employees to feel recognised, valued, and supported across all aspects of well-being. To find out how Terryberry's solution can help your business to prosper, please contact our team today.