Workplace benefits data offers some powerful insight. Insights that can shape your approach to employee engagement, retention, and overall efficiency. Still, many HR teams don’t make full use of the data available within their benefits platforms
Let’s explore the key data you can extract from your benefits platform, why it matters, and how to use it to make the most of your benefits offering.
The power of workplace benefits data
Employee benefits software isn’t just a tool to manage and administer perks. It’s a rich source of data that can help you make strategic decisions. But to get the most from it, you need to know what to look for, and how to use the insights effectively.
Here are some key datasets that can help you refine your benefits strategy:
- Benefits uptake and usage: see which benefits employees use most (and least) to understand what works. If certain perks aren’t being used, it could signal a need for better communication or a refreshed offering, whereas popular benefits could signal a strong alignment with employee needs. This helps you double down on what’s most valued and will reinforce your company’s commitment to meaningful support
- Employee demographics: break down data by age, location, role, or tenure so that your benefits appeal to different groups. A one-size-fits-all approach rarely delivers the best results. A flexible benefits platform helps you offer the right perks to the right people. If you can cater to all demographics, your employees will feel valued and supported at every stage of their careers. This not only enhances engagement and retention but also creates a more inclusive and motivated workforce
- Financial impact reports: track costs and ROI so that your benefits spend delivers real value. Understand the financial impact so you can justify investment and refine your approach
- Engagement trends: spot patterns in how employees access benefits over time. A sudden drop in uptake might indicate a change in employee needs or gaps in communication. If engagement spikes at enrolment but fades, employees may not see the value in year-round usage. Regular reminders and seasonal campaigns can help keep perks top of mind
- Survey and feedback insights: go beyond the numbers and collect employee opinions on benefits. Direct feedback helps shape future offerings and ensures they stay relevant. Use pulse surveys, polls, and open-ended questions to understand what employees truly value. A well-structured feedback loop allows you to refine benefit options, improve communication, and drive higher engagement over time
If you move beyond analysis, and truly understand this data, you can make benefits more strategic. This means they stay cost-effective and aligned with what employees actually want.
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Turn workplace benefits data into action
Data collection is just the start. The real impact lies in how you use it. Here’s how workplace benefits data drives value for your business:
It improves employee engagement
Data on benefits uptake reveals what employees value most. This insight helps you focus on offerings that drive engagement. For example, while gym memberships may be popular, mental health resources might be underused. This could suggest a need for greater awareness or more tailored options, like workshops or peer support. When employees feel connected to these initiatives, they are more likely to engage. Tailor benefits to meet workforce needs so you can enhance their connection to the company and boost the overall employee experience.
It enhances retention and attraction strategies
Understand the preferences of different employee groups to create benefits packages that attract and retain the right talent. Younger employees may prioritise professional development or flexible working, while experienced staff might value pension contributions or additional leave. Recognise these differences so you can customise your benefits strategy and offer a balanced mix that appeals to all demographics. This approach demonstrates that you value individual needs. It also strengthens your position as an employer of choice.
Read more>>> Next-level flexible benefits: how employers can cater for multi-gen workforces
It boosts cost-efficiency
Data-driven decisions help HR teams optimise their benefits spend. If certain perks aren’t being utilised, you can reallocate resources to the offerings employees value most. This ensures your budget works harder, which maximises the impact of the benefits employees engage with. The result? A more cost-effective strategy that delivers greater value, increases satisfaction, and maintains financial efficiency.
It strengthens wellbeing initiatives
Workplace benefits data reveals trends in employee wellbeing that might otherwise go unnoticed. For instance, rising absenteeism could be linked to gaps in health and wellness support. Identify these gaps early so you can take action and introduce targeted programmes that address both mental and physical health.
Whether you offer mental health support, promote fitness, or provide stress management resources, these actions help keep employees healthy. A focus on wellbeing builds a more resilient and motivated workforce in the long term.
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It enhances DE&I efforts
Review benefits engagement across different employee groups to ensure your offerings support diversity, equity, and inclusion. Examine how various groups interact with your benefits and identify opportunities to create more tailored, flexible options. Benefits like family-forming, parental leave, or financial planning address diverse needs and life stages. This approach promotes an equitable workplace where every employee feels valued and supported. Ensure that everyone has access to the benefits that matter most fosters a culture of inclusivity and strengthens employees' connection to the company.
Leverage Ciphr benefits for smarter, data-driven decisions
Ciphr benefits, powered by Avantus, provides the tools HR teams need to extract and act on meaningful benefits data. With features such as scheduled reports, dynamic total reward statements, and automated notifications, you can gain deeper insights into your benefits performance and make informed decisions with ease.
With Ciphr benefits, you can:
- Access real-time data on employee benefits engagement
- Customise benefits offerings based on workforce insights
- Automate reporting for improved efficiency
- Integrate benefits with wider HR and payroll systems
Want to discover how our platform can support your goals? Download Ciphr benefits factsheet
See Ciphr benefits in action
If you fully understand and use your workplace benefits data effectively, you’ll transform your HR strategy. If you’re ready to explore how Ciphr benefits can help you optimise your benefits offering, book a demo today.