The Alight Benefits AdvantageTM turns benefits from a necessary expense into a game-changing differentiator
The workplace is changing and so are expectations around benefits. Employees are seeking comprehensive support that includes health, wealth and wellbeing. Yet, many organizations find themselves overwhelmed by the complexity and cost of managing these benefits, leading to a gap between what is offered and what is actually impactful.
Today's employees value how they're supported just as much as how they're compensated. Savvy employers are paying attention to that fact as they strive to recruit and retain the talent they need to be successful. By 2030, more than 85 million jobs could go unfilled because there aren’t enough skilled people to take them. The competition for talent rages on, and outperforming companies are those companies that prioritize the workforce.
Benefits impact gap
Today’s workers have choices. If an employer doesn’t meet their needs, they won’t hesitate to take their talents elsewhere. Increasingly, benefits are becoming a decisive factor in where people choose to work. However, as employers expand their offerings to meet employee expectations, they’re finding that benefits costs and complexities outpace company growth, creating a new challenge Alight refers to as the benefits impact gap.
According to the Bureau of Labor Statistics and McKinsey, benefits costs are projected to rise more than 40% by 2026. For businesses, this presents a daunting challenge: how to provide meaningful benefits without letting costs spiral out of control and devour budgets.
Benefits sprawl
What’s more, most companies today are grappling with a benefits sprawl—the proliferation of benefits offerings without a cohesive strategy or efficient administration. This results in frustration for employees and employers alike:
- Employees are overwhelmed with benefits choices and confused by the process. Alight's International Workforce and Wellbeing Mindset Study reveals that 58% of employees regret a healthcare decision they’ve made, and half don’t even know what benefits their employers offer.
- Employers are encumbered by fragmented benefits ecosystems, lacking the data and insights needed to make proactive decisions. This results in higher costs, inefficiencies and a struggle to balance quality employee experiences with cost containment.
The benefits sprawl that’s endemic to the status quo model has created a forced choice between:
- Giving employees a better benefits experience at the expense of budget.
- Cutting costs to increase efficiency at the expense of experience.
Companies must shift to a new model of benefits management that optimizes both, delivering the better experiences their employees will love and the greater efficiency their business needs.
The stark reality is the traditional benefits model is unsustainable.
Many employees feel uninformed as to what's even available to them, limiting engagement and company ROI.
The way forward: turn a necessary expense into claims-verified savings, increased benefits utilization and an increase in savings per employee household. Those that forge ahead under these conditions will gain a benefits advantage and join the ranks of the industry outperformers.
Introducing the Alight Benefits Advantage
To address these challenges, we present the Alight Benefits Advantage—our innovative approach that transforms benefits from a cost center into a value center, helping organizations achieve both optimal employee experiences and cost efficiencies
What sets the Alight Benefits Advantage apart?
Our Alight Benefits Advantage is built on three core pillars designed to bridge the benefits impact gap, gain control over the benefits sprawl and help employers streamline benefits management through:
A unified benefits ecosystem: We help organizations integrate their benefits across the full employee lifecycle, reducing administrative burdens and cutting costs. This unified approach allows for seamless benefits management, enhanced employee engagement and reduced complexity.
Extensive data and expertise: Alight's AI-driven personalization, automation and insights empower organizations to make smarter, data-driven decisions. Through our experience in serving more than 35 million people and dependents, we provide intelligence to optimize benefits offerings and help drive business outcomes.
Optimized cost and experience: By delivering personalized benefits experiences tailored to each employee’s unique needs, we increase satisfaction and productivity. Our solutions optimize both cost and experience, ensuring that benefits not only attract and retain talent, but also support overall business goals.
The Alight Benefits Advantage™
Our innovative approach that transforms employee benefits and helps organizations achieve both optimal employee experiences and cost efficiencies.
Armed with the Alight Benefits Advantage, organizations can address the key questions that are often hard to answer:
- Are we moving the talent needle with our benefits spend? Where should we pull back? Double down?
- How effective are our benefits? Are they attracting the right skills? Driving loyalty? Productivity?
- Do our employees find personal relevance in the benefits we offer?
- How do we meaningfully increase benefits engagement?
- How do we take the friction and frustration out of dealing with complex events for our employees?
- Do we have the same ability to analyze benefits as we do for other parts of the business?
- Which of these are true for you? What other questions do you struggle to answer with your current benefits strategy?
To stay competitive in today's market, companies must transition from traditional benefits models to a more dynamic approach that combines both experience and efficiency. The Alight Benefits Advantage empowers organizations to do just that, turning benefits from a necessary expense into a strategic advantage. With our comprehensive solution, companies can streamline administration, reduce costs and deliver exceptional employee experiences. This drives business success, while creating a more engaged, productive and loyal workforce.
Alight is your benefits advantage—the solution to turn benefits from a necessary expense into a sustainable differentiator and build a healthier, more financially secure workforce.
Through our experiences with thousands of customers and more than 35 million employees and retirees, we have gained an understanding of the top requirements to gain a benefits advantage, a new set of buying criteria.
- Accept the new broader definition of benefits that continues to evolve
Purposeful offerings across physical, mental, social, financial and spiritual health - Break down the silos between benefits offerings
Remove complexity, friction, blind spots and process inefficiencies - Deliver a singular, personalized benefits experience for every employee
Delight to use, simplifies dealing with complex issues, always in context of an employee’s benefits history - Accelerate resolutions with AI-powered guidance integrated with expert assistance
Seamless handoffs between intelligent automation and Alight’s professional staff - Capitalize on specialized AI running on the best data
AI trained by deep reservoirs of real-world benefits advantage data - Optimize and continuously rebalance your benefits portfolio
Understand dependencies, impact and the value of every dollar spent across multiple categories
Real-world results: the Alight difference
Our clients have seen remarkable improvements in both cost savings and employee engagement:
Cost savings:
One client reduced benefits costs by 15%, freeing up resources for strategic initiatives.
Improved engagement:
Another client experienced a 25% boost in employee engagement, leading to higher productivity and retention.
Streamlined administration:
A third client reduced administrative burdens by 30%, allowing HR teams to focus on strategic priorities.
The future of benefits: embracing the Alight Benefits Advantage
The landscape of employee benefits is shifting, and companies that adapt will be the ones that thrive. By choosing the Alight Benefits Advantage, organizations can close the benefits impact gap, reduce costs and enhance employee satisfaction, giving them a strategic edge in the market. Don’t let benefits sprawl hold you back—transform your benefits into a sustainable differentiator with Alight.
Gain your benefits advantage with Alight today.
Discover how the Alight Benefits Advantage can help your organization cut through the clutter, streamline administration and deliver a superior employee experience—all while controlling costs.
