In this Industry Insight episode of the On Aon podcast, Aon leaders discuss why employee benefits have become a critical leadership agenda item for retailers. As benefits costs rise and workforce expectations evolve, organizations have an opportunity to unlock greater value from one of their largest workforce investments.
The conversation explores how leading retailers are using data, analytics and governance to make more informed decisions, align workforce investments with business priorities and strengthen outcomes across talent, operations and financial performance. They also examine how a more strategic approach to benefits can help organizations gain deeper insight, deploy capital more effectively and stay ahead in a rapidly changing environment.
Key Takeaways:
Employee benefits have a significant impact on performance, employee experience and financial outcomes across the organization.
Leading organizations are using data and analytics to connect benefits to business priorities, enabling more confident decisions and greater visibility into costs and outcomes.
Organizations can create greater value by improving visibility of their benefits programs, strengthening governance and taking a more sophisticated approach to financing.
Experts in this episode:
Tom Bowman, Global Retail and Consumer Goods Industry Leader, Aon
Matt Duffy, Chief Commercial Officer, Global Benefits, Aon
Key Moments:
(01:50) Why employee benefits have moved beyond a traditional HR function and become a leadership priority tied to workforce performance, financial outcomes and risk management.
(08:25) How organizations can improve visibility into benefits spending, strengthen governance and identify opportunities to create greater value from workforce investments.
(13:08) How data and analytics are transforming benefits decision-making and helping organizations connect workforce investments to business outcomes.
Soundbites:
Tom Bowman:
"Benefits are no longer simply a cost of employment. They are now much more of a strategic lever that can actually influence workforce performance. And that then improves employee experience that then drives real benefits, both on operational resilience and also the real financial outcomes of an organization."
Matt Duffy:
“Benefits have now become one of the largest workforce investments that organizations make, secondary only to payroll. And yet historically they've received far less attention and far less strategic oversight by the people within the organization that really matter.”
