Leveraging competitive benefits that appeal to everyone is a challenge for a lot of HR pros today. According to Amy Spurling, the founder and CEO of Compt, “A lot of companies have really great programs, but when they start looking at utilization, it's usually around 3 to 5% per thing that you're offering. It is very low. And so you're spending across each individual thing and getting incredibly low utilization. The challenge is then to reach more people and keep more people engaged without cutting benefits.” A former CFO and COO, Amy shares strategies for increasing engagement while offering employees the opportunity to make personalized decisions that are best for them.
Highlights
[3:00] The kinds of benefits it takes to attract and retain talent today
[9:41] How does a stipends-based benefits program give employees more control?
[13:50] What benefits employees are attracted to
[15:37] The impact of stipends on the local economy
[18:01] How one company got its CFO behind a stipend-based benefits program
[20:54] Impact of stipend benefits portfolios on employee engagement and retention
[24:50] Emerging benefits trends
[26:32] The impact of benefits on employee diversity, equity and inclusion
[30:01] Stipend utilization by salaried vs. non-salaried employees
[35:52] Stipends can dramatically improve employer-employee relationships
Guest Bio
Amy Spurling, Founder and CEO, Compt
Amy Spurling is the founder and CEO of Compt, an HR software company that enables companies to offer personalized, globally inclusive, and fully tax-compliant employee lifestyle benefits. Amy's experience as a former CFO and COO drives her belief that companies and employees can achieve much more together when employees are fully supported. A seasoned executive with nearly 20 years of experience in leadership roles at venture-backed companies, Amy has also closed over 10 rounds of financing, totaling more than $200 million, and managed two acquisitions to close. Amy received her master's of business administration from the Simmons School of Management, and a bachelor of arts from the University of Rochester.
Links
https://www.linkedin.com/in/amyspurling/
https://resources.compt.io/2024-lifestyle-benefit-benchmarking-report-0
https://www.hrmorning.com/articles/lifestyle-benefits-in-2024/
https://www.hrmorning.com/articles/cancer-benefits-in-2024/
Berta Aldrich’s best-selling book, Winning the Talent Shift, is available on Amazon https://a.co/d/iS7MuPJ
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