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Employers plan to improve benefits offering to improve retention

UK employers recognise the role that benefits play in staff retention and want to capitalise on this, new research shows.

In a survey by Capita Employee Benefits, the majority (94%) of employers said their organisation needs to better use benefits as a strategic lever to improve employee retention.

Digital technology is seen as key to this, with 92% agreeing that digitisation within benefits is crucial to building staff loyalty and driving better retention.

"Digital has the potential to deliver a faster, more seamless and personalised experience in benefits, which gives employees a greater sense of control and choice and the opportunity to take a more proactive approach," explained Gareth Pickles, managing director of Capita Pensions and Benefits.

However, while firms are looking to invest in technology to tackle engagement and retention challenges, the research shows that at present only 29% of employers are very satisfied with levels of employee engagement around technology-based benefits, and just 16% are very satisfied with their overall progress in digital.

Half (51%) of organisations are currently tracking and measuring employee engagement with benefits, while 45% of employers admit to taking an ad hoc approach when it comes to considering the user journey in their decision-making around benefits.

Pickles added: "Organisations need to take a strategic approach to digital adoption, rather than pursuing siloed, one-off implementations which invariably lead to failure and frustration. Digital should never be an end in itself, it is simply a means to enhance the employee experience.

"Benefits leaders need to ensure they have the skills and partners in place to get things right first time, and ensure new technology integrates with, and supports, the organisation's overall digital transformation vision."

Posted on April 15th 2019

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