Online benefit services
The past year has seen a deluge of sites that aim to make it easier for reward professionals to manage compensation packages online. A recent issue of Personnel Today looked at the best the internet has to offer.
Businesses invest colossal amounts of money each year in employee benefits that are all too often an expensive extravagance when it comes to recruiting, retaining and motivating staff. Put simply, much of the £ 50 billion spent on benefits each year by UK companies is being squandered because employees' appreciation, awareness and understanding of benefits is so limited.
The internet can put an end to such ignorance, allowing HR professionals and employees to go online any time and find out the precise value of their benefits packages at the click of a mouse, says Sue Weekes, the author of the Personnel Today report.
HR managers have to be both creative and flexible in the type of benefits they offer and then vigilant in communicating what they are and their value to employees — which is where the internet comes in.
What's on the market
Personnel Today cast its eye over two main types of site:
those which help HR administer an employee's benefits package from the desktop
those which offer employees the opportunity to choose or purchase a reward online and automate the necessary administration.
Among the online offerings featured in Personnel Today are:
Eurobenefits, which claims to be the first digital flexible benefits system
Pensionzone, a specialist pension administration site
The Incentive Shop, an online reward and incentive service
A final word
As well as reducing administration and saving time for the HR professional, they empower the employee enabling them to recognise the value of their personal benefits. — Sue Weekes, Personnel Today.
Want to know more?
Title: Benefit from online rewards , by Sue Weekes, Personnel Today, 23 January 2001.
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