How a Data-Driven Approach Can Work for You
Do you face a constant battle against the competing demands of controlling benefits cost and managing employee engagement and satisfaction with those benefits?
The solution is at your fingertips: leveraging the potential of your organization’s own data. According to Mercer Marsh Benefits 2016 Benefits Under the Lens: Identifying the Missing Links survey, 96% of employers collect data, but only 45% use the information. You could be missing a golden opportunity to secure leadership buy-in and justify continuing benefits spend — all because valuable data is going untapped. Imagine the power of knowing where you are now, where you’ll be in five years and — most important — what your potential savings could be!
Example: Current State Versus Projected State
The result of this hi-tech organization continuing to manage employee benefits costs the same old way would be an average year-on-year premium increase of 22%, with a compounded effect over five years.
In our new paper HR: The Battle Between Opinions and Data, benefits expert Liana Attard shares the importance of measuring benefits ROI, and shows how a change in approach can garner revolutionary results.
- Keep the “human” in “human resources”
- Use diagnostic and predictive modeling to uncover savings and reduce costs — all by using your own data
- Make the future of your benefits spend predictable
About the Author
Liana Attard, Principal and Asia Zone Consulting Leader, Mercer Marsh Benefits
T: +65 6398 2543
Liana is responsible for leading the regional consulting team across Asia, the Middle East and Africa. She provides consulting services to multinationals across multiple markets on topics including benefits strategy, health strategy, governance, plan design, flexible benefits, innovation, multinational pooling, captives and analytics.