HR STRATEGY

BrightPlan Unveils Strategy and New Solutions to Address Top Business and HR Challenges

BrightPlan | January 20, 2022

HRM Conference
BrightPlan, a leader in Total Financial Wellness, today unveiled its strategy and first phase of new solutions for addressing four top challenges business and HR leaders continue to face in 2022: attracting and retaining talent, driving employee experience and engagement, supporting employees' holistic well-being and fostering a culture of diversity, equity and inclusion (DE&I). BrightPlan's integrated strategy encompasses new and enhanced product capabilities including the Total Rewards Statement, financial wellness check-up and data and insights that support employer DE&I efforts.

Close to two years into the pandemic, the war for talent rages on as a substantial number of workers continue to fuel the Great Resignation. In November 2021, a record number of 4.5 million Americans voluntarily quit their jobs. Lack of engagement and burnout is common: 67% of employees are disengaged at work and 85% say their well-being has declined. Inclusion is also important in this mix with 51% of employees who quit did so because they did not feel a sense of belonging. At the heart of these issues is the employee experience: talent acquisition, engagement, wellness and DE&I challenges all stem from disconnected or unhappy employee experiences that impact the way we work.

"The long, anticipated future of work is now, By supporting our customers, listening closely and responding to their evolving needs, we are providing tangible solutions that enable them to address these business challenges, further establishing our commitment as a trusted partner to employers and HR leaders nationwide."

- Marthin De Beer, founder and CEO of BrightPlan.

BrightPlan's multi-phased strategy outlines the company's approach to solving four pressing challenges faced by businesses today:
  • Attracting & Retaining Talent: To win in this competitive talent market, employers need to create a reputation for stellar culture and a great place to work. In the quest for hiring top talent, recruiters aren't always well-equipped to sell the value of an employer's Total Rewards offering and current employees may not fully understand the benefits that are already available to them, putting employers at a disadvantage in competing for top talent. BrightPlan's new Total Rewards Statement, is an easy-to-use tool customized by company and job candidate that explains the value of total rewards. Additionally, BrightPlan is developing more financial education courses integrated with employer benefits that are relevant to different life stages, like Investing 101 and BrightPlan Guides to getting married, buying a home and more.
  • Employee Experience & Engagement: In our new work reality, employers need to provide their people with the services and support they need to be well, engaged and productive by bringing empathy, care and a more human experience into the workplace. This is core to the employee experience as workers increasingly demand support from their employers. For example, the employee experience is compromised when benefits are inconsistent across geographies and spread across multiple, disjointed platforms. With BrightPlan's recently announced global support for employees of US-based companies working in Canada, the U.K., Australia and New Zealand, as well as expanded services for tax planning and preparation, estate planning, student loan optimization and investing enhancements, BrightPlan's Total Financial Wellness solution helps create a more cohesive experience that addresses all aspects of employees' financial lives.
  • Holistic Well-Being: Holistic well-being recognizes the need to care for the "whole person," including their physical, mental, financial and social well-being, but many employee wellness programs are incomplete, generic and obscured. They ignore the top cause of employee stress – finances. Nearly 65% of workers reported they were stressed about finances, leading to worsened mental and physical health. With BrightPlan's new financial wellness check-up —a series of questions to gauge employees' financial wellness—employers receive aggregated insights on the financial well-being of their employees. In addition, BrightPlan provides quarterly reports and dashboards that bring clarity into the adoption and success of employee holistic well-being initiatives.  


"Supporting employee holistic well-being means meeting people where they are physically, mentally and financially, BrightPlan helps us empower our associates to bring their best selves to work. We are excited they continuously listen to our feedback and develop capabilities to further support our associates in achieving their financial goals."

- Lindsay Madaras, LivingWell manager at Alliance Data.

Diversity, Equity & Inclusion: Fostering a culture of inclusiveness and belonging where every individual feels welcome can be challenging. There is no one-size-fits-all solution and many employer programs do not adequately address the unique needs of underrepresented groups. Financial wellness is key to DE&I since true diversity, equity and inclusivity in the workplace is about recognizing each employee's unique background and supporting them in their well-being journey. Due to the wealth gap for underrepresented groups, inclusion in the workplace should also focus on fostering a sense of financial security through equal pay, equal opportunity and access to resources such as financial wellness benefits. BrightPlan partners with HR teams to address the unique needs of different employee populations through employee resource groups (ERGs). In addition to providing quarterly engagement reports and dashboards, BrightPlan's strategy includes working with each employer to bring DE&I-specific insights into the equation, enabling HR leaders to drive customization and improved decision-making. Further, BrightPlan is adding Spanish-speaking financial advisors to make financial wellness more accessible to diverse employee populations.

Amid continued accelerated change in the workplace and in employees' lives, BrightPlan's strategy is a blueprint equipped with tangible solutions for addressing key challenges faced by businesses today and provides takeaways for shaping the future of work. For more information on BrightPlan's strategy and solutions in these four areas, please visit this link.

About BrightPlan
BrightPlan is a leader in Total Financial Wellness. BrightPlan provides a comprehensive solution that addresses all aspects of employees' financial health at every stage of life, and empowers HR teams to enhance the employee experience and better attract, retain and engage talent. Its unique combination of digital platform and human advisors enables employers to deploy at scale while delivering personalization for employees. The company is the first financial wellness solution certified for fiduciary excellence by the Centre for Fiduciary Excellence (CEFEX).

Spotlight

For retailers, there are many challenges. How can you attract the best recruits to come work for your brand, when you can’t always match the wages of other industries? Throughout this paper, we’ve explored the different technologies that are vital for successful talent management in the retail industry. Emma uses a variety of HCM tools to source, select, onboard and develop high-potential employees like Raj. It could quickly become overwhelming and counter-productive if those tools weren’t all on one single, integrated system in the Cloud.

Spotlight

For retailers, there are many challenges. How can you attract the best recruits to come work for your brand, when you can’t always match the wages of other industries? Throughout this paper, we’ve explored the different technologies that are vital for successful talent management in the retail industry. Emma uses a variety of HCM tools to source, select, onboard and develop high-potential employees like Raj. It could quickly become overwhelming and counter-productive if those tools weren’t all on one single, integrated system in the Cloud.

Related News

BenefitMall Expands Portfolio Expansion with New ThinkHR Partnership

BenefitMall | October 29, 2020

BenefitMall, the main supplier of cutting edge intermediary administrations, today declared its proceeded with portfolio development with another association with San Francisco Bay Area-based ThinkHR, a cloud-based stage that gives HR and consistence assets just as live counsel mastery to a huge number of little and medium-sized organizations cross country. With ThinkHR, dealers can give a complete HR and consistence library to boss gatherings just as: ThinkHR Live: a telephone based group of HR specialists holding on to address questions and give guidance ThinkHR Comply: an incredible, online asset place with structures, devices and agendas expected to look after consistence ThinkHR Learn: a learning the executives framework to enable customers to clergyman, direct, track and report on online representative preparing programs "ThinkHR is a great partner for the broker community and this new partnership reaffirms BenefitMall's commitment to investing in best in class service to our brokers and their clients," said Bob Love, president of the Benefits Division for BenefitMall. "We are dedicated to elevating the technology in the benefits industry, and this partnership will further our efforts." ThinkHR's industry-driving People Risk Management arrangement assists accomplices with fortifying their customer connections and win more business. Combined with BenefitMall's client assistance and innovation contributions, the association acquaints a HR choice with the organization's broad portfolio. "In today's climate, having reliable HR and compliance practices and policies in place is mission critical for small and medium sized businesses," said Vince Murdica, chief revenue officer for ThinkHR. "We're thrilled to partner with BenefitMall, so we can help even more organizations mitigate risk and integrate best-in-class HR resources and expertise into their day-to-day operations." About BenefitMall Headquartered in Dallas, BenefitMall partners with a network of 20,000 Brokers to deliver employee benefits to more than 140,000 small and medium-sized businesses. With a dedicated focus on the broker community, BenefitMall leverages innovative technology backed by human expertise to provide the very best in broker services nationwide. Through a network of brokers and carriers, BenefitMall delivers efficient, secure, digital benefits solutions.

Read More

HR STRATEGY

Increasing Demand for Remote Work Drives Innovative HR-Tech Solutions by Equus

Equus | March 17, 2021

Equus Software LLC. recently launched PinPoint Remote Work to embrace remote working with confidence. PinPoint Remote Work offers, companies with a central and automatic system to proficiently manage the alternative work request of their global workforce. It reduces the workload of HR and improves employee experience. PinPoint Remote Work software helps businesses deal with the increasing requests by employees for alternative working requests following the seismic changes due to the COVID-19 pandemic. The software helps with alternative work requests such as having to cope with email and spreadsheets alone. With PinPoint Remote Work employees have an easy way to initiate the request, including immigration requirements, permanent establishment, personal tax, and payroll withholding. The PinPoint Remote Work also has the benefit of incorporating with Human Resource Information Systems (HRIS), as well as other Equus solutions. The preference for flexible working has steadily increased in recent years this has stimulated the response to global lockdowns and travel restrictions caused by the COVID-19 pandemic. With many businesses announcing permanent remote work policies, this shift defines new ways of working now and in the future. According to research prediction, 22% of all workdays will be conducted at workers' homes after the pandemic ends, compared with just 5% before. With the workforce now based outside the office require new technology to enable solutions to manage remote work at scale and minimize the new range of audit, tax, and immigration risks.

Read More

HR STRATEGY

Randstad acquires Cella, Inc.

Randstad | October 01, 2021

Randstad NV, the global leader in the HR services industry, announces that its US business, Randstad USA has acquired Cella, a staffing, managed solutions and consulting firm for the creative, marketing, and digital market. The acquisition enables Randstad to build a strong position in the significant and growing US marketing, creative and digital staffing and professional services market. By doing so, Randstad takes another step forward in supporting more people and organizations in realizing their true potential by combining the power of today's technology with our passion for people. With over 30 years of expertise, Cella is one of the largest creative/digital staffing companies in the US and enables the world's largest and best known brands to engage the best people and unleash the full potential of their creative power. With revenues of over $100 million expected in 2021, Cella has a history of impressive growth. I'm excited to announce the acquisition of Cella to our portfolio of trusted brands and welcome their great people to our team. The move is another step forward in Randstad's strategic ambition to drive continuous and profitable market share gains in the expanding higher margin professionals market space. Cella has a strong market position in the creative, marketing and digital staffing industry and a significant track record of managed services offerings in In House Agency solutions for many fortune 500 clients. - Karen Fichuk, CEO of Randstad North America and Randstad N.V. executive board member Cella's leadership team will continue to oversee operations. Growing this company has been an extremely rewarding venture, and we are incredibly proud of what we have built over the years. This partnership with Randstad allows us to leverage our shared scale and experience to reach the next level of our collective aspirations to become the recognized leader and partner of choice in creative, marketing, and digital solutions. We look forward to working together to build an even stronger future. - Rob Ganjon, President, Cella. Fairmount Partners, a leading middle-market investment bank, served as the exclusive financial advisor to Cella throughout the transaction. About Randstad Randstad is the global leader in the HR services industry. We support people and organizations in realizing their true potential by combining the power of today's technology with our passion for people. We call it Human Forward. In 2020, we helped nearly two million candidates find a meaningful job with more than 236,000 clients. Furthermore, we trained close to 350,000 people. Randstad is active in 38 markets around the world and has a top-three position in almost half of these. In 2020, Randstad had on average 34,680 corporate employees and generated revenue of € 20.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad N.V. is listed on the NYSE Euronext. Randstad North America, Inc. is a wholly-owned subsidiary of Randstad N.V. As a trusted human partner in the technology-driven world of talent, we combine the expertise and passion of our employees, with some of the most innovative HR technologies on the market today, to advance the careers and business success of our candidates and clients. Our operations comprise nearly 5,700 associates and a deployed workforce of more than 94,000 in the U.S. and Canada. In addition to staffing and recruitment, Randstad offers outsourcing, consulting and workforce management solutions for generalist and specialist disciplines, including technology, engineering, accounting and finance, clinical and non-clinical healthcare, human resources, legal, life sciences, manufacturing and logistics, office and administration and sales and marketing. About Cella Cella is an award-winning leader in consulting, staffing and managed solutions for creative, marketing, digital and proposal development teams. We help people build meaningful careers and partner with companies to help them win. Our secret sauce? The Cella Trifecta: we have the right people, we understand our clients and we deliver results. Success requires a partner who offers all three. Together, we put passion to work.

Read More