5 creative ways to maximize employee benefits without growing budgets

2023 is the critical year for employers to reassess their Total Rewards strategy and to identify potential inefficiencies so companies can continue to grow employee benefits while budgets remain flat.

Many savvy HR professionals have started to creatively repurpose their benefits budgets by consolidating multiple single benefit offerings into one holistic benefits program. This approach allows employees to choose from a wide range of benefits that are meaningful to them (from financial wellness to mental health, tuition reimbursement to family planning), while also maintaining simplicity and cost-effectiveness for the employer.

Key takeaways:

• High-level market trends and challenges for HR professionals in 2023
• Five areas to consider when identifying low-value programs and repurposing budgets for more flexible and comprehensive benefits offering such as Lifestyle Spending Accounts (LSAs)
• Benchmark and need assessment for investing in a flexible benefits program

‍Speakers:

Josh Bersin
Global Industry Analyst, Founder of The Josh Bersin Academy‍

Josh Bersin is a global research analyst, public speaker, and advisor on the topics of corporate human resources, talent management, recruiting, leadership, technology, and the intersection between work and life. Josh Bersin and his team of experts at The Josh Bersin Company offer research, advisory services, the Josh Bersin Academy, and corporate memberships to provide HR leaders and their teams with end-to-end skill-building and strategy development.

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‍Jason Fan
CEO and founder of Forma

Jason Fan is an HR technology entrepreneur focused on transforming the way companies provide employee benefits. As founder and CEO of Forma, a modern benefits platform, Jason aims to modernize how benefits are delivered to employees through personalized spending accounts. Jason started his company in 2017 and since then has grown it to more than 135 employees across 30+ cities.