See the changes we identified on the non-salary benefits for employees and our plans to offer companies the best solutions for flexible benefits customized according to employee needs.
Trending customized flexible benefits and new ways for managing flexible benefits in companies
The way in which flexible benefits are managed in companies has changed. First of all, we noticed an increase in the number of organizations that go from internally managing benefits and providers or non-salary benefits for employees to the flexible management system.
„More and more companies are looking for a one pit stop model, where they will find a wide range of non-salary benefits for employees to choose from and which will help them delegate provider and customer service management.”, Andrei Dumitrel, co-founder of MYBENEFITS, a flexible benefits platform
The result? The need to customize benefits and to have solutions for benefits market. However, wishing to offer a greater variety of employee non-salary benefits, many companies tend to overload platforms with benefits that are irrelevant for employees.
The studies we carried out, however, show us that this leads exactly to the opposite than the desired effect. In other words, when a non-salary benefits platform is filled with irrelevant benefits, employees end up avoiding decisions (a phenomenon known as „decision fatigue”) and postpone purchasing them or don’t find them relevant. That is why company assigned budgets for non-salary benefits for employees do not reach the goal of building loyalty and retention that loyalty building programs usually have.
„We believe that MYBENEFITS must make a constant customization effort to remain the most relevant platform for benefits market and loyalty building platform in Romania. This level of customization will be improved constantly if the platform is used by as many users as possible. For this reason, a key factor is communicating with human resources specialists who, due to their experience, understand why a bazaar - platform does not contribute at all to the wellbeing of the employee who put in the effort in order to be rewarded through access to flexible benefits.”, Andrei Dumitrel, co-founder of MYBENEFITS, a flexible benefits platform
Our motto? „One glove doesn’t fit all”And rightfully so. That is why at MYBENEFITS we do things differently: together with the employer we establish the most accurate profile for employees and their needs in order to build the non-salary benefits for employees, whether flexible or fixed, so that they are relevant for each person, and the decisional process around choosing benefits is as simple as possible.
Unfortunately, there is no universal list of non-salary benefits that makes everyone happy. Luckily, they can be customized according to the profile of the employees in each company, which is why Human Resources specialists must listen to their employees.
„Customized flexible benefits are meant to cover needs, and flexibility and empowering the employee to choose such benefits leads to a better coverage of these needs. And when employee needs are met to the best extent possible, then there is a transfer of attachment to the employer’s brand.”, Andrei Dumitrel, co-founder of MYBENEFITS, a flexible benefits platform
Three main directions for 100% customized flexible benefit solutions
Our energy in terms of developing customized flexible benefit solutions is divided into three main directions:
- user experience (whether employee or HR specialist)
- business development and expansion
Let’s look at them individually.
First of all, we invite you to discover what will happen on the MYBENEFITS flexible benefit platform. Curious? Read below.
„At the end of the month we are getting ready to accelerate access to the MYBENEFITS platform for as many HR specialists as possible, but also others, through a partnership that will revolutionize the flexible benefits market. The more the platform is used by employees, the more data we will have to improve user experience and reduce the decision fatigue phenomenon to the maximum extent possible.”, Andrei Dumitrel, co-founder of MYBENEFITS, a flexible benefits platform
Secondly, we are dedicated to the user experience area. Our purpose is that the MYBENEFITS flexible benefit platform is as user-friendly as possible, regardless of the technical knowledge of the employee accessing it. Sounds good, right? That is why, in order to be able to offer an optimal digital experience, we collaborate with employees in various fields and we test their feedback about the interaction. This way we can simplify processes more and more. And that is not all! We also want to cover the deficiency that we see in the market at the moment and unify the area of user experience – provider relationship.
„Our currently ongoing partnerships will be quite helpful in developing MYBENEFITS, but this is also about people and we are lucky to be working with extraordinary people.”, Andrei Dumitrel, co-founder of MYBENEFITS, a flexible benefits platform
Are you ready to learn about our future development plans? They certainly aren’t few. Today we will only talk about two of them, namely: developing the MYBENEFITS team – and here as well we are lucky to have extraordinary people that amaze us each day with the innovation, curiosity and commitment they invest in this project (Thank you so much!) and last but not least, our development as a business, both internally and in other European Union countries.
If you want to stay up to date with the event that we are preparing this month, and we take this opportunity to revolutionize the flexible benefits market, we invite you to follow MYBENEFITS on LinkedIn.