Did you know that financial stress is now one of the biggest concerns for employees, with 73% citing financial worries as their top source of stress ? Surprisingly, it’s not just about paycheck size—many employees are overwhelmed by the variety of voluntary benefits offered by their employers, which often leads to underutilization. In fact, nearly 40% of employees report feeling uninformed about their non-medical voluntary benefits (BenefitsPro). This lack of understanding means employees miss out on valuable resources that could help them alleviate financial stress, while employers lose a significant opportunity to enhance engagement, productivity, and retention.
As organizations strive to meet the needs of a diverse, multigenerational workforce, the challenge isn’t necessarily to offer more benefits—it’s to ensure that employees truly understand and use the benefits available to them. Employees who have a clear understanding of their benefits are more likely to utilize them effectively, improving their financial well-being and overall job satisfaction. This is where TIFIN @Work comes in.
TIFIN @Work: Enhancing Benefits Awareness and Utilization
TIFIN @Work is an AI-powered financial platform that helps employees become more informed about the benefits available to them. Rather than leaving employees to figure out their benefits on their own, @Work actively communicates what’s offered, helping them understand and engage with their benefits packages. This makes it easier for employees to take full advantage of offerings such as health savings accounts, retirement plans, and other resources that employers provide.
The Impact for Employers and Advisors
For employers, the benefits are clear. When employees are informed and confident about the benefits available to them, they are more likely to participate, leading to higher retention and productivity. Companies that invest in benefits education see a 30% increase in employee satisfaction and a reduction in turnover rates by as much as 14% .
For advisors, TIFIN @Work offers an opportunity to provide a cutting-edge solution that helps corporate clients maximize the impact of their benefits programs. By offering this platform, advisors can position themselves as strategic partners who not only help companies offer comprehensive benefits but also ensure that employees understand and value them.
Imagine employees who not only know about their benefits but actively engage with them to improve their financial well-being. This is the future of employee engagement, and it’s what TIFIN @Work delivers.
In today’s competitive talent market, companies that prioritize effective benefits communication and education will stand out as employers of choice. With TIFIN @Work, advisors can help their corporate clients bridge the gap between offering benefits and ensuring they’re truly utilized, creating a win-win situation for both employers and their employees. This is the smarter benefits education that every organization needs to thrive.