Every HR team knows how difficult it is to source, negotiate, and administer benefits across multiple markets. These manual processes often lead to inefficiencies and high costs — but Marketplace is here to change that.
As a digital-first, plug-and-play benefits solution, Marketplace helps organizations provide benefits to their employees faster than ever before.
What is Marketplace?
Marketplace is a ready-to-use benefits platform that allows companies to offer benefits on demand without the need for external contracts or manual setup.
With an exclusive and ever-expanding network of trusted providers, Marketplace offers businesses access to pre-vetted benefits, tailored to employees' diverse needs. Whether you want to enhance your existing benefits programs or introduce new offerings, Marketplace simplifies the entire process.
“Our market knowledge, contracting capabilities and plug and play integrations ensure our clients can easily expand their benefit offering without a significant increase in their workload," says Dominic Hullah, International Marketplace Lead at Benifex.
Set Up Marketplace in Three Easy Steps
Rolling out benefits through Marketplace is designed to be quick and intuitive. It only takes three easy steps:
1. Log in and start exploring the catalogue of available benefits.
2. Select the benefits that best align with your goals and employee needs.
3. Deploy the benefits and access them instantly, with no additional administrative setup required.
After deployment, employees gain immediate access, and HR teams can monitor usage and engagement through real-time analytics. This streamlined process helps HR teams focus on strategic initiatives rather than getting caught up in administrative tasks.
Cost Savings and Exclusive Discounts
With Marketplace, organizations can reduce costs by minimizing manual work, leveraging exclusive supplier discounts, and eliminating procurement delays. By limiting these administrative burdens, companies can focus their resources on employee engagement, retention, and overall workplace satisfaction.
One of the key advantages of Marketplace is pre-negotiated supplier pricing. Through a global network of benefit providers, organizations can offer top-tier benefits at competitive rates. And Marketplace eliminates the need for lengthy contract negotiations, making it easier for companies to expand their benefits offering without additional administrative complexity.
Local Benefits, Available Worldwide
For multinational organizations, providing benefits that resonate in different markets can be challenging. That's why Marketplace offers a flexible solution that allows companies to provide both global and locally tailored benefits.
As of 2024, 23% of employees reported being dissatisfied with their benefits. Now, companies can ensure that employees in different regions receive benefits that are relevant to their specific needs and comply with local regulations. Whether employees are looking for health and wellness support, sustainable commuting options, or financial planning services, Marketplace enables HR teams to select offerings that align with workforce expectations.
The Speed of a Digital-First Solution
With Marketplace, HR teams can roll out new benefits in minutes, through instant, digital access to a curated selection of benefits providers. This means HR teams no longer need to spend hours vetting providers or negotiating individual contracts.
Digital integration is another key advantage. Marketplace works within your existing systems, ensuring that benefits can be managed in one place. With single sign-on functionality and API integrations, employees can access their benefits effortlessly through an intuitive, user-friendly platform.
Learn More About Marketplace
Marketplace is helping businesses modernize their approach to benefits management. Learn how Marketplace can transform your unique benefits strategy today.