Strategies for Navigating Optimized Benefits

Strategies for Navigating Optimized Benefits

This IDC Perspective discusses strategies for navigating optimized benefits. Modeling capabilities for benefits are a key starting point for organizations to evaluate and drive the right resources to the right people at the right time. For employees, modeling capabilities also help them sift through the myriad of options presented to them so they can assess their relative risk levels and make the right decisions based on individual factors. Modeling for traditional benefits enables both sides to elect into the benefits programs that best meet their needs while identifying gaps in coverage and modeling use case costs across forecast periods. Accurate forecast models then help employees advocate for additional resources and employers evaluate the organizational benefits of expanding the benefits landscape to include more diverse and adjustable resource options. "As balance sheet efficiency kicks in across industries, organizations are looking to improve on how they attract and retain the skills they need as well as oversight of the costs incurred to do so," says Zachary Chertok, research manager for Employee Experience and interim research manager for Modern HR Opportunities and Strategies at IDC. "New capabilities in AI-driven modeling are extending the concept of adjustable value resources into benefits administration, enabling employers to form-fit deployed resources to the employees most likely to use and benefit from them. Combining traditional and adjustable benefits is helping better manage the cost of benefits administration, enable employers to push back on rising costs of traditional benefits, and improve on employee performance."

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