BrightPlan launched its Employee Total Rewards Statement, a new solution that aims to help workers better understand and utilize their compensation and benefits. Via BrightPlan’s platform, the feature provides employees with a “comprehensive” view of their rewards in the context of their personalized financial plan, the company said.
With the launch, BrightPlan hopes to help employees with their financial well-being while even as it helps employers in their efforts to attract, motivate and retain talent.
“By providing a comprehensive view of total rewards in combination with education, goals-based planning and personalized guidance from Certified Financial Planners, employees get support to navigate benefits decisions with confidence,” said BrightPlan Chief Product Officer Larry Robinson. “At the same time, employers have the opportunity to highlight the significant investment their company makes in employees’ professional and financial growth, and overall well-being.”
Supporting Financial Wellness
Total Rewards offers HR professionals assistance with:
- Open Enrollment and new hire onboarding: Provides employees with decision support during onboarding and open enrollment to ensure employees understand what benefits and rewards are available to them.
- Major Life Events: Supports employees in making informed benefits selections based on their unique financial circumstances and goals during life events such as marriage, having a baby or divorce.
- Compensation Changes: Enables employees to visualize compensation changes that come with promotions, raises and equity grants, along with the impact they have on their financial goals.
- Benefits Intent Data: Offers aggregated and anonymized insights into the benefits employees are interacting with on the BrightPlan platform. This provides a benefits decision support tool for HR as users curate, consolidate or improve their benefits offering.
In February, BrightPlan launched its new Workforce Financial Wellness Gauge, which “uses patented technology to surface valuable insights in real-time for employers and HR leaders” by working with anonymized employee financial data.
Image: iStock
