Artificial intelligence has been largely responsible for shuffling the power balance between corporations around the world, making tech companies that employ such tools and technologies enormously rich while punishing those who still utilize brick and mortar solutions. The bottom line is that AI has made many tasks a lot simpler, including employee benefits.
Employee benefits play a crucial role in recruitment strategies and retention. As a result, companies scale up their offerings compared to salary packages to appeal to the best possible pool of candidates. But for the average employee, navigating through their benefits can become a rather overwhelming process. Artificial intelligence has made transformed the employee benefits industry for the better.
To make employees feel more empowered after making a decision, it is important to use the right technology platform that presents all their benefit plan options in one convenient place instead of a single option. This ‘decision support platform’ will let employees consider all possible options and make the best possible decision based on their own preferences.
To make sure your benefits plan works well for employees, it is important for employers to plan strategies that help their candidates find the best possible solution during the recruitment stage. Doing this not only assists employees but help employers minimize the risk associated with worker benefits.
Faster Decision Making
Giving employees the right advise can take up several hours, but using an AI powered chatbot can be reduced down the on boarding process to as little as 90 minutes. The AI is powered by a series of algorithms that operates around employee responses to questionnaires. This data is then used to assess employee attitude to risk before giving them a personalized advice catered specifically to their preferences.
Healthy Lifestyle Choices
AI coaching can be used to promote health at the workplace by providing employees with healthcare information that is relevant to them. The AI uses machine learning to assess data from different sources such as the medical community and the targeted users. Employees are then given with a possible range of treatment options.
Working More Efficiently
Applications powered by artificial intelligence can utilize employee data from their workload, health and diary to suggest a more efficient work strategy at the office. As an example, if an employee has a meeting between 2 PM to 6 PM, the AI might recommend to make time for food an hour before.
More accurate help can be provided if data is utilized from external data such as wearables, banking and shopping. The AI powered app will help employees make better saving decisions which could help with their retirement or travel plans.
Improving the Use of Employee Engagement with Benefits
The AI app will give timely reminders to employees about their benefits and how they could be used to make their lives easier both at the workplace and home. This helps bolster productivity at the workplace and in turn, retention rates.
If you want to integrate AI tools with your HR department and improve employee benefits, it helps to get in touch with consultants at JS Benefits Group and improve your business.