6 Aspects to consider when choosing an employee benefits partner
30 de January, 2024
It’s no longer news that giving employees extra benefits has a significant impact on their satisfaction, motivation and retention. According to Randstad’s Human Resources Trends 2023-2024 study, 48.9% of the companies surveyed admit that improving the benefits granted is one of the strategies to combat the shortage of talent.
As more and more organizations recognize the important role of benefits in addition to salary, the importance of choosing the right partner also comes to the fore.
But what aspects should you take into account when choosing an employee benefits provider for your company? Come and find out with us.
1 – Scope and flexibility of benefits
The scope of the benefits offered is one of the main aspects to consider. A diverse range of benefits is better able to meet the diverse needs and expectations of different employees.
In the case of Edenred, we have a multi-benefit offer with tailor-made solutions in areas such as food, children, education, vocational training, health and well-being and senior expenses, for example.
2 – Simplified process management
The granting of employee benefits to employees should not be synonymous with an additional administrative burden for human resources managers. In this sense, it is important to understand how the implementation of benefits works, but also all the processes inherent in their allocation and management.
What kind of information will be needed about employees? What platforms will be used? What impact will it have on the company’s established procedures? These are the questions you should ask your potential supplier.
3 – Digital platforms
The digitalization of benefits is another key aspect to consider. Digital platforms provide a more convenient, intuitive, consistent and flexible experience for everyone involved: for companies, in assigning and managing benefits, and for employees, in using them.
Edenred, for example, offers its client companies the Client Portal (for managing benefits, top-ups, requests and renewals, checking invoices, etc.) and users the MyEdenred App (for checking the balance of the different benefits, making payments via the App, searching for participating establishments, accessing the Discounts and Advantages Program, etc.).
4 – Trust, security and compliance
A company that provides employee benefits must guarantee the security of all processes, including all transactions carried out by both companies and employees. In addition, it must ensure compliance with the legislation that regulates the granting of different benefits.
In this sense, it is essential to analyze the credibility and reputation of the supplier, trying to predict the quality of the service they will provide.
5 – Personalized support
The experience of using and managing benefits goes far beyond the solutions themselves. It’s natural that, throughout the process, there are doubts and constraints, both on the part of the company itself and on the part of the employees.
It is therefore essential to assess the level of support that the supplier provides, ensuring that a dedicated service is available.
6 – Social responsibility
Sustainability concerns – whether environmental, social or in terms of corporate governance – are also a relevant criterion when choosing any supplier. Organizations are increasingly looking for good performance in terms of ESG criteria throughout the value chain.
In the case of Edenred, the Ideal policy establishes concrete measures in three spheres:
- People: promoting local development, health and well-being, training and professional integration, among others.
- Planet: reduce carbon footprint, resource consumption and waste production, comply with local and international environmental standards, among others.
- Progress: promoting healthy and sustainable food, combating food waste, ensuring data protection and cybersecurity, promoting the digitalization of services, among others.
Through this policy, Edenred contributes to 12 of the 17 United Nations Sustainable Development Goals (SDGs).
These are the main aspects to take into account when choosing a partner for your company’s extra-salary benefits. Remember that a choice based on these factors contributes not only to increased employee satisfaction, but also to the long-term stability and competitiveness of the organization.