“There is a mismatch between the technology that’s out there and what people want to use,” says Vassos Vassou, a senior consultant at Towers Watson. Here are some apps dragging reward and benefits into the 21st century:
- TW LifeTime app allows employees to calculate their life expectancy, using only a few simple inputs. It brings home the need for retirement saving, says Vassou: “If you are retiring at 65 and still need income for 20 more years, how will you cover those costs?”
- The free BenPal Pension Modeller, developed by JLT Benefit Solutions, helps workers figure out quickly, by inputting a few details, how much they need to save to retire when they want.
- Providers are beginning to up their game with apps that allow employees to access benefits anytime, anywhere. Asperity’s Reward Gateway app was one of the first – a shopping discount app that allows employees to explore and receive vouchers.