This blog is guest-authored by Oliver Evason, International Advisor | Buyer Enablement, Benify
In our previous API blog, we discussed how technology is progressing at an exponential rate in the consumer space and that users now expect ‘Netflix-like' digital experiences, regardless of whether it’s a consumer website or something provided by their organization.
Another common challenge we discussed is that HR data is often held in a variety of systems that lack interoperability, which in turn hinders employees’ benefits experience and does not help employers realize a return on investment for their benefits spend.
CIOs and Human Capital Management (HCM) system leaders are seeking more efficient solutions to move data into their HCM and reward and benefit ecosystems. APIs and data integrations are now helping bring the personalized and modern experience we have in our consumer lives to the employee benefits space.
What do Employees and Employers Need?
The Benefits Factor report conducted by Benify and YouGov and a survey carried out by Deloitte have both highlighted the importance of recognizing the needs of different generations in the workplace so that people can create an environment where they want to stay while feeling enabled to thrive and produce the most value for their organization.
Organizations are challenged with managing different benefit data sources and employee eligibility, which can often be complex and come with manual overhead. At the same time, they’re also trying to listen more to employees and add benefits that meet employee needs in different international locations.
A modern API solution can make data more readily available and timely, which personalizes benefits communication and enhances the employee experience.
Insights from the Experts
I asked Jonathan Bruce, VP of International Sales at Benify, about the trends and data challenges he was hearing about from HCM systems managers.
Jonathan shared that both the cost of data processing in the benefits supply chain and the need for data efficiency in organizations’ HR tech estate are issues that are growing in importance. While organizations have migrated HR data to the cloud, benefits data is frustratingly lacking in many cases, and HCM systems leaders are being challenged to meet their teams’ benefits and rewards demands. This can be done simply to promote on-demand Total Reward offerings, as well as local benefit enrollment. In some cases, third parties are used to support manual data updates, when technology could instead be used to solve these tasks in a way that minimizes employee frustration.
I asked Jonathan for some key examples of what he’s seen in the market:
API integrations are rapidly being seen as a hygiene factor in the delivery and operation of a modern HR benefits platform. As a best-of-breed benefits solution, we work alongside all common HCMs to not only automate the regular transfer of data but also reduce the risk of errors in the dataset.
When organizations move to Benify from other benefits platforms, it is common for us to replace a manual HR data file transfer process with an automated API that synchronizes with employee data inputs. Simple examples at the start can be to automate dependants' data or shift allowances from payroll before adding geo-locate to use benefits locally. These all enable a personalized user experience with relevant, timely information for the moments that matter to employees.
Our mission is to simplify data exchange at a low cost and light touch across our clients' tech systems to help them maximize the impact of their benefits spend for all employees‘ unique lifestyle needs. As an independent benefits technology supplier, we want to provide on-demand frictionless experiences for employees with all HCM reward and benefits data.
Jonathan’s comments highlight the clear value of utilizing integration technology to improve the employee experience. A personalized experience is something that employees in modern organizations continually ask for.
Unlocking the Potential of Integrations
Modern integrations enable improved user experiences and can create a more accurate, useable data pool in the HR tech estate. Take, for example, a use case when an employee needs to add a dependant to their private medical cover. This kind of action requires that the employee make the change and then wait for the change to take effect — typically for a month or more. With an API, the employee could have their dependant covered in a matter of minutes.
With modern integrations, the possibilities are endless. You can use this technology to access the latest life insurance prices, discover childcare benefit options, or use geolocation to find local gyms or medical providers.
In the next blog, Jonathan will be joined by Magnus Hedner, Head of Integrations at Benify, to discuss how APIs enable organizations to use HR and benefits data to drive insights and solve the challenges HCMs and CIOs are facing.
Interested in how Benify can help you use integrations to improve engagement with your employees? Get in touch to learn more about our API capabilities.
