Benefits programs are a big and growing expense. They serve as an important tool to attract and retain talent. However, most employers have only a limited understanding of whether their benefits programs meet employee needs or whether these programs are being delivered cost-effectively.
TrueChoice Solutions’ HR Optimization software solution allows businesses to analyze what benefits are most important to each employee and how employees make trade-offs between them. Gain insight how to optimize the rewards that are most meaningful to employees and, simultaneously, to optimize benefits spending.
TrueChoice Solutions’ HR Optimization application is effective and unique because it offers state-of-the art functionality, the highest performance and the best data – all at a fraction of the cost of alternative approaches. It enables your enterprise to:
- Gain insight into what rewards each individual employee most – and least – values and the relative importance of these rewards.
- Develop rewards that fully optimize employee value for the lowest possible cost.
- Identify where costs can be reduced without impacting employee satisfaction.
- Predict the impact of program modifications on costs and employee satisfaction.
- Optimize internal and external recruiting efforts.
Better understand how best to communicate program benefits so employees fully recognize their value.
Our unique, interactive, customized Web-based applications make this possible. Powered by hundreds of patented algorithms, they provide “real time”, actionable insight and analytics including:
- The relative importance of benefit offerings
- Index of perceived benefit value versus benefits cost
- “Money Down the Drain” Index – spending with little utility to employees
- Modeling tools – benefit plan optimization
- Employee engagement scoring
Data and analysis can be viewed in aggregate, within customized, pre-defined segments, or anonymously at an individual employee level.
The TrueChoice HR Optimization application is offered as a “software as a service” so there is no hardware to buy or software to maintain.
TrueChoice applications are facilitated through any Web-enabled PC, tablet, smartphone or kiosk or with the guidance of an advisor.
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