10 Best Companies To Watch 2023

Delivering the Premier Global Platform for Benefits and Total Rewards Across the Globe

Centralized administration of all employee-related concerns, including benefits, pay, and training, is a major advantage of total rewards programs. For small businesses, such a system provides a comprehensive way to manage these aspects of employee administration. Essentially, the various components of a total rewards program encompass all the tools a business utilizes to entice employees, such as salaries, bonuses, incentives, benefits, and opportunities for career advancement through professional development and further training. This type of system offers numerous benefits to companies, especially small businesses where owners and managers must cultivate positive relationships with their staff.

Benify is a corporation that utilizes a platform to facilitate employers in constructing a superior benefits and rewards experience while simultaneously optimizing benefits administration, automating processes, augmenting communication of their employee value proposition, and ensuring superior data governance and management of benefits and rewards costs. Its award-winning solution is entirely mobile, and the platform and employee app have revolutionized the mode in which modern employers engage with their employees. The platform is immensely adaptable, offering an embedded data mapping tool and formidable filtering capabilities. The communication engine is user-friendly and empowers HR professionals in easily connecting with end-users at various touchpoints, allowing clients to guarantee personalized communication with their employees.

At present, Benify proffers the preeminent global benefits and total rewards platform in the market, serving thousands of clientele and exceeding two million users across the world. The solution presented by Benify aids employers in forging an exceptional benefits and rewards experience, curtailing benefits administration, automating processes, remarkably amplifying the communication of their employee value proposition, and guaranteeing superior data governance and management of benefit and reward costs.

Why Benify

Immersive Global Experience: Benify endeavors to provide a distinct, personal, and location-specific benefit and rewards enablement to each employee, culminating in an immersive and globally consistent experience.

Enhanced Employee Value Proposition: Fostering an immersive global experience is pivotal to augmenting your Employee Value Proposition (EVP), an indispensable aspect of attracting and retaining talented employees.

Automated Data and Benefit Processing: Benify centralizes and automates benefit and reward-related processes, spanning from onboarding to the distribution of data to local insurers, carriers, and payrolls.

Reduced Data Risk and Improved Governance: The automation of data and benefits processing leads to better governance and management of data, consequently minimizing compliance risks associated with regulations such as GDPR.

Management of Benefit Costs: Benify allows you to promptly visualize and report your total employee offer and benefits enrollment in each country of operation, empowering you to make informed, efficient, and expedient decisions.

Truly Mobile: Benify’s solution is genuinely mobile, with the mobile app offering all the platform’s functionality. You can reach and engage your entire workforce “on-the-go” or on-the-sofa throughout their entire employee lifecycle.

In-built Mapping Tool: The SaaS (software as a service) platform encompasses its mapping tool, which integrates seamlessly with your existing on-premise or cloud platforms.

Dedicated Product and Development: Benify has 250 employees in Product and Development dedicated to incessantly advancing and improving its leading-edge benefits and total rewards platform.

Total Reward Platform

The importance of salary cannot be denied, but it alone is not sufficient to provide a comprehensive view of employee compensation. In today’s competitive labor market, it is crucial for organizations to make their employees feel valued and appreciated, and one effective way to achieve this is by making them aware of the organization’s complete investment in them. According to research conducted by Benify, as many as 80% of employees underestimate the value of their total compensation. Employers who fail to address this issue may end up losing money on underutilized benefits and run the risk of employees leaving for better-compensated opportunities elsewhere. To combat this, Benify’s highly customizable platform includes a built-in data mapping tool and powerful filtering capabilities, as well as an easy-to-use communication engine that allows administrators to engage with employees at various touchpoints.

Through Benify’s Total Rewards Experience, employees can gain access to a visually-engaging digital representation of their complete reward package. Considered as a tool for both talent retention and attraction, a Total Rewards Statement presents an improved employee value proposition that goes beyond just salary and reflects the true value of an employee’s total reward and compensation package. Any changes to an employee’s compensation, such as a bonus or the addition of a new benefit, are automatically updated in real-time on their Total Rewards Experience and are linked to the Benify Communications Engine to ensure targeted and personalized reminders and updates. Combining the Total Rewards Experience with the communication engine and app can lead to increased employee engagement.

The Leader Upfront

Joakim Alm is the CEO of Benify, a company that provides a cloud-based software solution for managing employee benefits and total rewards programs. He co-founded the company in 2004 and has since led it to become a global leader in the HR tech industry. Prior to starting Benify, Alm worked in finance and consulting. He holds a Master of Science in Industrial Engineering and Management from Linköping University in Sweden.

“Our platform and employee app, which have received numerous awards, have revolutionized the approach of contemporary employers to engaging with their workforce.”

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