As remote work becomes the norm and cost pressures mount, traditional employee benefits are falling short. New research from Weavr reveals that 60% of benefits managers now want to offer spendable benefits cards to improve flexibility, engagement, and adoption. Learn how this shift is shaping the future of employee perks, and what it means for benefits and HR platforms.
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A Flexible Approach to Employee Benefits
One of the greatest challenges facing benefits managers today is how to maintain employee access to, and engagement with, traditional benefits. The shift to remote working, coupled with cost constraints, makes it harder to deliver consistent and relevant benefits to employees everywhere. 80% of benefits managers have employees working outside their HQ country, yet only one-fifth provide consistent benefits to their remote workforce.
Learn how payments solves for access and adoption of benefits in our white paper.
The Pressure of Rising Costs and the Need for Innovation
The economic strain on HR departments is growing. 27% of benefits managers report that rising cost pressures are forcing them to cut or scale back their benefits programmes. Some companies are even referring to this as the ‘perk-cession’—a downturn in the range of perks they can afford to offer.
What Benefits Managers Are Looking for
Benefits managers are under more pressure than ever to find employee benefit solutions that balance employee satisfaction with rising costs. They’re looking for platforms that simplify the process, reduce friction, and improve employee engagement. According to recent findings:
- 50% of benefits managers are exploring new software to manage their packages.
- 60% would value tools like spendable benefits cards, which provide flexibility and control.
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The Solution: Spendable Flexible Benefits Cards
Spendable benefits cards provide a win-win for both employees and employers. 60% of benefits managers see the value in these cards, which allow employees to spend their benefits budget across predefined categories like wellness, learning, and professional development.
Rather than limiting employees to set benefits, spendable benefit cards give them the freedom to choose the services and products that best suit their needs. This could mean using their wellness budget for a yoga class, a gym membership, or even a new set of running shoes.
For benefits managers, this approach also reduces administrative friction. With spendable cards, there’s no need for employees to file claims or go through lengthy reimbursement processes. It’s as simple as making a purchase, with the company footing the bill.
Why Download the Full Research White Paper?
To understand the full scope of how spendable benefits cards can step-change access and engagement with benefits when embedded into software, download the research paper.
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