50 Leading Companies to Watch 2022
Total rewards programs provide the advantage of centralized administration in all employee-related concerns, including benefits, pay and training. For business, and particularly small businesses, such a system of administration provides the advantage of a complete system through which to control all of these aspects. Simply put, the elements of a total rewards program constitute all the things a business uses to attract employees, including salary, bonuses, incentive pay, benefits and employee growth opportunities such as professional development and additional training. This system provides a number of advantages to companies, particularly small businesses in which business owners and managers must foster positive personal relationships with employees.
Benify is one such company, leveraging platform that helps employers create an exceptional benefits and rewards experience while reducing benefits administration, automating processes, radically improving the communication of their employee value proposition and ensuring better data governance and management of benefits and rewards costs. Its award-winning solution is truly mobile; the platform and employee app have reinvented the way modern employers engage with their employees. The highly customizable platform offers an in-built data mapping tool as well as powerful filtering capabilities. The easy-to-use communication engine allows HR professionals to connect with end-users at various touch points easily. With this, their clients can ensure personalized communication with their employees.
Today, Benify offers the market’s leading global benefits and total rewards platform with thousands of customers and over two million users around the world. Benify’s solution helps employers create an exceptional benefits and rewards experience while reducing benefits administration, automating processes, radically improving the communication of their employee value proposition and ensuring better data governance and management of benefit and reward costs.
Immersive Global Experience: Benify creates an immersive and globally consistent experience by providing unique, personal, mobile, and local benefit and rewards enablement to every employee.
Enhanced Employee Value Proposition: An immersive global experience goes hand-in-hand with your Employee Value Proposition (EVP), which is essential for attracting and retaining talent.
Automated Data and Benefit Processing: Centralize and automate how you administrate benefit and reward-related processes from onboarding to distributing data to local insurers, carriers and payrolls.
Reduced Data Risk and Improved Governance: Automated data and benefits processing leads to better governance in how you manage and track data, therefore, reducing data compliance risk around things like GDPR.
Management of Benefit Costs: Immediately visualize and report your total employee offer and benefits enrollment in each country you operate in and make better, smarter and faster decisions.
Truly mobile: Its solution is truly mobile. With Benify’s mobile app, you can reach and engage your entire workforce “on-the-go” or on-the-sofa, throughout their entire employee lifecycle, with all the functionality of their platform.
In-built mapping tool: Its SaaS (software as a service) platform includes its own in-built data mapping tool allowing it to integrate with your existing on-premise or cloud platforms.
Dedicated product and development: The company has 250 employees in Product and Development dedicated to the continuous development and improvement of its market-leading benefits and total rewards platform.
Total Reward Platform
Salary is important. However, it doesn’t provide the whole picture. In today’s war for talent, it’s essential your employees feel valued and appreciated. And the best way to do this is making them aware of your full investment. Benify's research reveals that 80 percent of employees underestimate their total compensation. For employers, this unawareness results in lost money spent on unused benefits and an increased risk that employees will go somewhere else they believe they are better compensated. Their platform is highly customizable and offers an in-built data mapping tool as well as powerful filtering capabilities. The powerful yet easy to use communication engine allows administrators to easily connect with end-users at various touch points.
With Benify’s Total Rewards Experience, employees are presented with an engaging and digital visualization of their total reward. As a tool for both retention and attracting new talent, think of a Total Reward Statement as an enhanced employee value proposition that illustrates the true value of an employee’s total reward and compensation package beyond just his or her salary. Any changes to an employee’s compensation, such as a bonus or enrollment in a new benefit, are reflected and updated on their Total Rewards Experience in real-time and then linked to the Benify Communications Engine to ensure personalized reminders and updates. Use Benify’s Total Reward Experience together with the communication engine and app to drive employee engagement.
The Leader Upfront
Joakim Alm is the Chief Executive Officer of Benify. He has extensive experience within international leadership, sales and the development of various platforms specializing in employee benefits, pensions, and insurance scheme.