There are a whole host of strategic and tactical reasons why organizations look to a dedicated benefits platform. For example, to improve employee engagement, support understanding, communicate value, and offer an exceptional global employee experience. As employee expectations for flexibility and choice in benefits grow, HR and Reward teams must also adapt their strategies. A global benefits platform also offers enhanced data and insights, enabling leaders to fine-tune their approach based on real employee needs.

Without a benefits platform, reward teams spend dizzying amounts of time on manual processes, reporting (often managed via spreadsheets), and daily admin. Technology and automation alleviate the burden of resource-draining manual processes, compliance risks, and costs. In fact, 40% of global organizations say using technology to reduce administration is a priority.

Typically, global benefits technology removes 96% of the HR costs related to employee benefits management, freeing HR professionals to focus on strategic initiatives, rather than time-consuming operational tasks. For example, Benefex customer Baker Hughes was able to remove the processing of over 2,500 files and integrations with OneHub.

Although multinational organizations are ahead in adopting benefits technology, those without a platform face mounting administrative challenges – this can add up to thousands of reports and thousands of hours across a global organization. They also struggle with gaining visibility into key metrics like total benefits spend, employee participation, and return on investment.