An Employee Benefits Portal is a great way for employees to view everything the company is providing, in one place. For companies wanting to engage their employees with an online facility, the costs are often eye watering. The implementation of an Employee Benefit Portal can regularly cost well in excess of £20,000 which for most companies in the SME space is not viable. So our portal can be a cost effective solution.
A common process for many companies delivering employee benefits, is to give a basic verbal communication in addition to a one page benefit document. The problem with this is employees are dealing with information overload, and the details of the employee benefits are soon forgotten. We believe this is the core reason the CIPD reports most companies can be doing better when communicating their benefits.
Employee Engagement should be regular, consistent, and ever evolving. An Employee Benefits Platform can be a great way to engage employees ongoing, because employees can regularly view their benefits online, and manage their pension. Specifically to pension investment, figures show that under 10% of employees under the age of 50, view their pension online. We believe this to be a great contributor towards the pension crisis. So providing a range of tools for early engagement is important.
There can however also a problem with Employee Benefit Portals. Many times we have seen companies implementing an Employee Benefits Portal, hoping it will be the answer to their prayers. But without a joined up approach, Benefits Portals can have low engagement.
The Solution —
CB Financial believe the communication of Employee Benefits should be deliver using a broad range of strategies. That’s why our combination of face to face, written and online support is perfect for companies looking to deliver the best possible Employee Engagement to its employees.