Employee benefits analytics

If you want to improve well-being, manage costs and retain employees, robust employee benefits analytics informs strategic thinking. Our market-leading approach features HR dashboards that harness your employee health and benefits data, so you can make data-driven decisions.
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Employee benefits data analytics

Without good analytics it is impossible to tell if any changes made to your benefits programs are having a positive or negative impact on employees. It also denies the opportunity to understand the impact any proposed changes may have.

Employee benefits cost organizations a substantial amount, but are they valued by employees? Our employee benefits analytics tools help you optimize spend, with employee data reports that show what is and isn’t working.

Employee well-being and in particular mental health are huge areas of focus for employers. Analytics can help employers proactively impact employees’ health by understanding where improvements can be made, rather than waiting to make reactive change.

Our health and benefits analytics solutions help organizations achieve this. With benchmarking tools to stay ahead in the market and functionality such as Future Trends and ‘What-if' analytics, organizations have a view of the future, enabling strategic initiatives to be implemented and monitored. 

Save time and prevent errors

Instead of manually compiling employee data reports, save time and avoid error with automated employee health and benefits data collection. We integrate your HR, payroll, employee benefits data and more to give you benefits oversight via a user-friendly self-service analytics platform.

Calculate return on benefit investment

Find out how much individual benefits are costing you and drive efficiencies by harmonizing and managing benefits collectively. Use employee benefits analytics on cost and utilization to calculate return on investment and identify wasted spend.

Reduce health costs

Identify trends to improve employee health and well-being, reducing sickness absence and keeping health insurance claims down, minimizing direct health costs and the impact of employee ill-health.

Attract and retain talent

Using a combination of employee engagement data and other information, gain insights to boost the recruitment and retention of the best talent.

Support business goals

Use analytics to ensure your employee health and benefits efforts are supporting business goals, from driving cost efficiencies to mitigating health risks.

Employee benefits analytics FAQs

 

Rising employee benefits costs and the war for talent means companies need to ensure their benefits are fit for purpose. Employee benefits analytics can help you identify which benefits your employees are actually using and how much individual’s benefits cost. These employee benefits data insights can then be used to identify which benefits need rethinking and which need to be communicated more effectively. HR data reports can also be used to ensure employee benefits are supporting key business goals. For example, the need to attract and retain talent with the skills needed for the future or drive cost savings.

It can take weeks to manually compile the HR data needed to measure the effectiveness of individual benefits. Automating this process can reduce time and the risk of human error; enabling you to get the insights needed to reduce insurance claims and boost employee choice and engagement. Our HR dashboard takes data from multiple sources, to deliver up-to-the-minute data. We also look at cost, utilization and employee engagement data, so you can make data-driven decisions to enhance your strategy.

By understanding the types of medical claims and the people that they are impacting, organizations can put proactive measures in place to improve the well-being of employees. Ultimately this reduces the organizational impact of sickness and enables organizations to negotiate costs with providers by showing that they are strategically reducing the number of claims that employees make.

After salary employee benefits are the second biggest people cost. Proactively managing this makes good business sense, especially when it comes to reducing healthcare benefits costs, creating a culture of health. Employee benefits analytics can also help organizations to progress board-level priorities. Ranging from meeting diversity and inclusion targets to attracting and retaining the talent needed to achieve business growth objectives. If you would like us to help you to make the business case for introducing employee benefits analytics at your organization, contact us today.
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