Connecting the dots: How HRtech and Fintech can benefit employees 

Technology has done plenty to transform the nature of work in recent years. From an employee’s perspective, can it also be used to improve one’s workplace experience? 

Innovations in HRtech and Fintech are making this into a reality. From payroll processing to workplace financial wellness, technology is playing an increasingly important role in supporting employee wellbeing through a more seamless benefits program.

The digital future of benefits

According to MetLife’s most recent employee survey, one of the top three drivers of holistic employee wellbeing is a comprehensive benefits package. Beyond insurance coverage and workplace perks, a well-designed benefits program should also cover employees’ financial health.

These days, more and more employers are recognizing the impact financial stress can have on employee health and performance at work. Offering financial wellness benefits can help employees take control of their finances, improve focus during work hours and even prevent stress-related illnesses.

One simple yet effective method of this is to work with robo-advisors such as Syfe. Syfe provides employees with a personalised investment plan. As a robo-advisor, Syfe will recommend and manage personalised investment portfolios for employees based on their goals, risk profile, timeline, and other factors. There’s no need for employees to manually manage their portfolios – everything from dividend reinvestment to rebalancing is automatically taken care of.

Providing investment management as a benefit can help employees gain greater peace of mind for their financial future, while making them feel more valued at work. Moreover, this is a benefit that can be offered to employees with little or no upfront investment from employers.

Changing employee expectations

A company is only as good as its employees. Attracting top talent and retaining skilled employees is crucial for a company’s success.

These days, employees are looking for more than just a competitive salary. Companies need to offer benefits that meet the needs and expectations of today’s diverse pool of employees. A savings and investment plan is a good benefit, but ultimately, employees will not use it if signing up and managing the plan takes up too much time and effort.

On this end, robo-advisors provide the convenience, flexibility and accessibility employees seek. Firstly, most robo-advisors don’t have lock-in periods or early withdrawal penalties. This means employees can cash out their investments anytime they choose to.

Secondly, many robo-advisors don’t require a minimum deposit amount. Employees can choose to invest a few hundred dollars each month or invest their year-end bonus as a lump-sum.

In essence, robo-advisors make investing as simple and fuss-free as possible. Time-strapped employees juggling multiple roles at work and at home will appreciate having an investment plan that they can set up and monitor at their own time and convenience.

Simplicity is key

Ultimately, employees want an investment management program that is easy to use even if they have no prior investing experience.

This is where robo-advisors like Syfe shine. With a sleek app and website, signing up takes less than 5 minutes with MyInfo. Employees can also keep track of their investments via a central dashboard and easily add or withdraw funds in a few clicks.

For employers, there’s no worry about the additional workload on HR teams. Be it onboarding or monthly statements, all the work involved in setting up an investment plan for employees is done by Syfe. 

Moving forward

Helping employees save and invest for their future can result in happier, more motivated and secure employees. Robo-advisors can support this by providing a seamless investment experience for employees regardless of how experienced they are in investing. Digital advancements also mean that the workload of HR Teams is a lot less and can be completed with ease. All in all, advancements in HR Technology and Financial Technology have resulted in a more convenient experience for employers and employees alike.

Ready to get started? Open a Syfe account and use the promo code JUZTALENTSYFE ” to receive up to $100 bonus when you invest.

 

Cheers!

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