How-to guide: Boost your benefits strategy to connect with your people. UK Employee Benefits Watch 2018 Series

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1 How-to guide: Boost your benefits strategy to connect with your people UK Employee Benefits Watch 2018 Series

2 Introduction Our latest UK Employee Benefits Watch 2018 research has highlighted that employers need to take a step back and look at their benefits strategy as a whole. Those who are leading the way have reviewed, aligned and optimised all the components of their benefits strategy. And they re reaping the rewards; they ve been able to truly engage their employees and connect them to their organisation. Want to do the same? Find out how by reading our three steps! 1. Take a flexible approach 2. Put your employees at the heart of your strategy 3. Think about your wellbeing offering holistically

3 1. Take a flexible approach Organisations who have reviewed their strategy in the last 6 months are 100% more likely to be supporting their people strategy. Ensure your benefits programme is flexible by using technology to give employees easy access to their benefits, and offering a flexible allowance so employees can choose the benefits that are relevant and personalised to them. This will drive employee engagement. Don t forget to measure the ROI on your benefits spend. To do this, take a step back and look at your benefits, people and wider business strategies as a whole. The more you review your benefits, the more relevant they are and the more connected you are to your employees. 100% more likely to be supporting their people strategy

4 2. Put your employees at the heart of your strategy Organisations who are providing a consumer-grade experience for employees are twice as effective at enabling employees to make good benefit decisions. When it comes to benefits, employees today expect their technology experience at work to reflect that of their everyday life. Think easy access, think on-demand. Offer a consumer-grade experience and innovative communications and you ll reap the rewards your employees will be happier, more loyal and more productive. Leading to greater talent attraction and retention. Use technology to enable this consumer-grade experience. For example, you could provide a dedicated benefits app or give employees mobile access to their benefits. The digital processes created will save your team valuable admin time which they can spend on other value-add tasks, and provide you with data to continuously improve your offering. 2x as effective at enabling employees to make good benefit decisions

5 3. Think about your wellbeing offering holistically Organisations that offer a holistic wellbeing programme are twice as likely to offer the benefits their employees truly want. Integrate and streamline your technology and administration to create a connected benefits ecosystem. This enables you to focus on your employees wellbeing and empowers you to break down the barriers in your wellbeing strategy. For example, with a benefits ecosystem you ll be able to focus on supporting the physical, financial and mental health of your employees in a holistic, interconnected way, rather than viewing them in silos. This will help you to offer personalised support to your employees. 2x as likely to offer the benefits their employees truly want

6 Conclusion Employers who have reviewed their strategy in the last 6 months are 100% more likely to be supporting their people strategy and connecting with employees through benefits. By following the steps in this guide, you ll be able to take a step back and optimise all the components of your benefits strategy to create the ultimate connection with your people! For more detail on the topics in this guide, download our UK Employee Benefits Watch 2018 report, or chat to one of our team. E: connect@thomsons.com W: