After Blenheim Palace announced the launch of its own employee benefits platform last month, we felt it was an apt time to explore the topic in more detail.
In this blog post, we list some of the common features of corporate benefits platforms, outline the key benefits they provide and list six leading platforms currently serving UK businesses.
Can they deliver on the promise of simplifying the provision of employee benefits and rewards for HR teams? Read on to find out.
Looking to invest in an employee benefits platform to provide the best support to your staff? Contact our team of experts for FREE quotes and advice. Call +44 (0)1273 974419 or click on the bottom right chat box.
What are corporate benefits platforms?
Corporate benefits platforms are digital spaces giving staff access to employee benefits via a mobile app or desktop platform. In this digital space, employees can sift through the different perks on offer, enrol themselves on the benefits they most want and utilise a range of wellbeing tools.
The process of administering benefits is made a lot easier for HR teams as the system is largely self-managed. It’s also much easier to provide a choice of perks to your teams. This means you can successfully address their different interests, life circumstances, health requirements, and priorities.
Below we have listed a few extra positive outcomes of employee benefits platforms:
- Staff feel more in control and involved in the decision-making process
- Less time-consuming for management and HR
- Organises administrative documents and processes in one easily accessible area
- Saves valuable time and money by lightening the load off HR – energy can be directed towards other responsibilities such as staff training and development
- Employees gain access to a wealth of knowledge on the employee benefits market, allowing them to understand in more detail how their chosen benefits can be used
- Many benefits platforms can be synchronised with payroll and other HR services
How do employee benefits platforms work?
Each platform has its own distinct features and functionality, but they typically include:
- Staff discounts/deals
- Health and wellbeing support services
- Health insurance management options
- Pension schemes management tools
- Employee Assistance Programmes
- Holiday entitlement management tools
- HR communication tools
- Payroll integration
- Employee rewards and recognition services
It’s important to remember that HR has full control over what’s offered, and features will vary depending on your chosen platform and package.
As employee benefits brokers, we often advise companies on how best to synchronise their platforms with different insurance products and services – making sure that everything’s hooked up to provide maximum value.
If you’d like FREE one-to-one advice, call us on +44 (0)1273 974419 or use the contact form on the right.
6 leading corporate benefits platforms in the UK
There are scores of benefits platforms vying for your attention. It can seem daunting to pick one out of the many! Here, we have provided a brief breakdown of six leading platforms in the UK.
ThanksBen prides itself on being a flexible platform, enabling staff to set their own budgets selecting the benefits they most want. It’s mainly aimed at small to mid-range businesses, but the features offered are continuing to expand, allowing it to grow with the needs of its clients. ThanksBen also includes payroll integration alongside the usual benefits management capabilities.
Established in 2006, Reward Gateway has almost 2000 customers. Due to their target businesses being predominantly larger organisations, Reward Gateway are great for complex needs catering for a wide range of staff priorities and requirements. Customers are particularly fond of its automated employee recognition platform.
EdenRed serves more than 10,0000 businesses and has 35 years-plus experience in the field. The platform is rich in features making it a good match for large businesses with complex needs. They are well-known for helping businesses build more connected teams whilst specialising in high-value perks, incentives and rewards, and expense management tools.
Renowned for its global capabilities, Perkbox is another fast-growing provider now used by over 7,500 businesses. As an employee benefits and rewards platform, Perkbox provides leading HR integration features, driving efficiency and boosting clients’ communications capabilities. This platform brings together employee benefits, wellbeing, and recognition/rewards.
Known by many by its former name, Fair Care. Since launching in 2005 as a specialised salary sacrifice service, Avantus has come a long way. It now provides a wide range of HR functions and employee benefits – with different packages adapted to different business needs. Its FlexGenius module also allows businesses to publish or update policies and documents and make them accessible to the team via the platform.
With an impressive client roster which includes Aviva and Travis Perkins, Zest promises to be the perfect partner for any employee benefit scheme. Usability is at the heart of what they do, with a setup of fewer than two hours! All the usual features you’d expect are here: personalised benefits & reward schemes, payroll reporting, employee usage stats, communication tools and much more.
Frequently asked questions
Here are just a few of the questions we’ve previously been asked about corporate benefits platforms:
- Is the upfront cost really worthwhile? Usually, yes. It saves HR huge amounts of time by automating tasks and allowing team members to efficiently manage their own perks. But it also allows employees to get the benefits they most need, which will be of mutual benefit to business and employees – healthier, happier employees will be more present and productive in the workplace.
- Can current benefits be transferred? Investing in a new corporate benefits platform doesn’t mean you have to start from scratch. It’s possible to transfer any current policies and benefits into the new system.
- Are platforms available for different business sizes? Absolutely, from start-ups to large corporate institutions, there is a solution for every type of business. They can be as straightforward or as advanced as required, serving a small UK workforce or large global employee base.
- Will it bring an end to one-to-ones? We’d hope not. These platforms may have features which allow for the gathering of feedback and usage stats, but in-person conversations still matter. Whether it’s related to employee benefits or the general workplace experience, there’s nothing that beats a one-to-one conversation.
Get expert advice
When there are so many corporate benefits platforms to choose from, it can be difficult to work out which one provides the best solution. Your business is always evolving and the way people work is constantly shifting – especially with the recent growth of remote and hybrid working possibilities which has driven an upward trend in global workforces.
To help with this process, the best plan is to first speak to an AMII-affiliated broker and get independent advice on which platform and range of benefits will provide the best fit. At Engage Health Group Ltd, we take the time to understand your business and answer all your queries. Based on our conversation/s, we’ll source quotes tailored to your business – all FREE of charge.
Contact us at [email protected] or call +44 (0)1273 974419 for FREE no-obligation advice and support.