Fostering Award-Worthy Culture Through Personalized Benefits and HR Tech

Walls filled with plaques and trophies no longer sufficiently define an award-worthy organizational culture in today’s talent market. 

As Guillermo Corea, host of SHRM Labs’ WorkplaceTech Spotlight series, observed, “Fostering an award-winning culture extends far beyond recognition plaques and accolades. It hinges on prioritizing employee well-being.” 

Put simply, personalized benefits programs addressing diverse needs now make or break acquisition and retention efforts.

Thankfully, innovative solutions are arriving to ease a notoriously cumbersome process for overtaxed HR teams. We explored how one nonprofit health care facility found success by embracing flexible benefits technology from startup Maxwell Health to simultaneously elevate employee experience, productivity, and recruitment.

The Mounting Need for Personalized Benefits

MetLife research showed that less than half of employees were satisfied with their employers’ benefits offerings post-pandemic, raising expectations for comprehensive, accessible packages. Forward-thinking leaders recognize that personalized offerings addressing diverse, evolving needs are indispensable for attracting top talent and spurring long-term innovation.

Yet, execution barriers persist, according to Kiley Armitage, director of operations at health care nonprofit QLI. 

Armitage said, “Health care is a tough industry to work in. It’s hard for us as health care workers to put ourselves first … so having benefits that help team members prioritize themselves helps keep them healthy, and there’s no question that health care is one of the industries with a great deal of burnout.”

How QLI Boosted Benefits Through Maxwell Health

Amid burnout challenges and child care strains exacerbated by the COVID-19 pandemic, QLI crossed paths with flexible benefits platform Maxwell Health during a timely roundtable. By allowing each employee to self-allocate “credits” toward benefits matching individual lifestyle needs, Maxwell overcomes accessibility gaps plaguing outdated models dependent on status or tenure. Policies covering retirement savings, pet insurance, or Uber credits suddenly become a choose-your-own-adventure situation.

The impact delighted leaders. Armitage said that QLI’s benefits through Maxwell are much more personalized in a way that QLI couldn’t offer before. Employees feel similarly, praising exceptional customer service that includes 24/7 assistance by phone. By creatively embracing technology, leaders can propel cultural experiences forward.

Personalization Powers Recruitment and Productivity

The advantages of flexibility even unlock unforeseen HR advantages. Armitage said it has helped her recruit after some team members increased their scheduled hours to qualify for Maxwell’s benefits. By using employer review sites to publicize contemporary offerings that resonate across candidate priorities such as financial planning, mental health, and work/life balance, QLI now strengthens employer branding for both full-time and part-time roles—crucial during health care staffing crunches when competitors are battling for talent.

Moreover, a report from Businessolver showed that 85% of employees are confused about their benefits, a trend that has held steady. Policies putting choice first bring employees back full circle to best serve customers. With clarity around tailored packages that meet individual needs, staff can redirect their focus from administrative burdens to patient care and enhanced service quality, avoiding frustrations from attempting to parse complex policies. By empowering staff, innovative programs indirectly uplift all stakeholders.

Looking Ahead at Benefits Trends

What comes next as the needs for benefits and access barriers continue evolving? With health care costs projected to rise 6% to 8% in 2023, emphasis will likely shift to physical and mental health support as flexibility and technology assistance are optimized.

Half of today’s Generation Z employees said most of the benefits communications they receive don’t feel relevant to them, and 63% said they wish their employers offered more personalized benefits recommendations and expert partners to smooth transitions. Forward-thinking employers recognize that success hinges on demystifying offerings through transparent portals and counselors who guide choices aligned with career phases, family status, and diverse identities.

In addition, employee benefits satisfaction fell to 61% in 2023, down from 64% in 2022, reaching its lowest point in the past decade, according to MetLife’s latest annual U.S. Employee Benefit Trends Study. It’s important to understand what innovative solutions are available to help your organization adapt to ongoing changes and anticipate future needs. 

Concluding Thoughts

By breaking from the standardized benefits programs of yesterday that were powered by restrictive HR technology, QLI demonstrates the power of personalized offerings that address individual obstacles. Employees feel valued through tailor-made assistance and self-care support, which translates to customers in enhanced service. In the process, forward-looking talent is also drawn in.

While plaques recognizing such cultural shifts may come, sustainable organizations focusing first on human needs will write the most award-worthy legacy stories. As the philosophy underlying organizational missions, personalization promises greater access, understanding, utilization, and, at last, liberating benefits to empower careers and communities. Soon, such creative embraces of choice through platforms that elevate accessibility and knowledge around options will become table stakes. Perhaps plaques await, too—but sustainable cultures focusing first on human needs write the most award-worthy legacy stories.

FAQs

What makes an award-worthy workplace culture?

Employee well-being fuels award-caliber cultures in the long term. Personalized benefits address diverse, evolving needs and help attract and retain top talent while boosting productivity through support. Platforms that overcome execution barriers can accelerate offerings.

How can HR tech elevate benefits?

Solutions like Maxwell Health’s flexible spending platform enable self-service customization toward priorities such as pet insurance, retirement and child care. Cloud simplicity helps programs scale while optimizing processes.

What prevents the adoption of personalized benefits?

Cost and administrative lifts often obstruct tailored benefits programs. A lack of experience can also slow rollouts. Still, personalized offerings will increasingly define talent attractions as expectations rise.

Why is flexibility in benefits crucial for retention?

Empowering each employee to allocate “credits” toward policies aligning with their individual lifestyle needs will make benefits packages feel accessible and caring. Workers who feel valued through choice and self-care support stay loyal while producing their best work.

What impending trends bear watching?

Watch for expansion around packages supporting financial protection, mental health, and lifestyle needs as dynamics shift. With health care costs projected to rise over 6% in 2024, technology optimization and flexibility will only accelerate.

— 

This article was written based on Episode 27 of the WorkplaceTech Spotlight. 

Thank you to Kiley Armitage, director of operations at QLI, for contributing to the conversation.