WorldatWork’s Post

TLNT's brand new series, 'HR AI tools reviewed' is back! This time round, can AI answer any question an HR professional might type about complex international sickness rules, holiday pay or pensions contributions differences? We test Oyster's 'Pearl AI' to find out: https://hubs.li/Q024M_Hz0

It's never been more important for HR leaders to help shape and support the execution of business strategies. However, to be successful in today’s volatile world, HR teams must stand ready to understand and harness five fast moving trends - including the use of collective retirement plans (Master Trusts and Pooled Employer Plans) to manage costs while delivering more effective outcomes for employees. Nearly one in five retirement plan members in Europe are already in a collective plan, and the number of companies moving away from operating their own 401(k) plan to a PEP is rising rapidly in the U.S.

Digital tools, data analytics and AI are transforming the workplace benefits space, writes Michael Estep, head of product and underwriting for group insurance at Prudential Financial. He shares the insurer’s efforts and results. “At Prudential, our investments in new tools and capabilities that blend advanced technology, data science and human touch, are allowing our clients to make more informed workplace benefit decisions,” he writes. https://bit.ly/49agvkj #insurtech #AI #data #benefits #WorkplaceBenefits

Monday Discussion Group 11/3/24: Budget 2024 Key Elements for Revenues and Benefits– Visionary Network Last Monday, we discussed key elements from the 2024 budget announcement and how they may impact Local Authorities, specifically the Revenues and Benefits departments. Paul Howarth provided an excellent summary, which you can find in the recording, and there is additional information in the slide pack, plus links to key documents on our website. My take on the budget was that there was a lot of emphasis on improving productivity through AI, particularly in AI projects for a number of government departments, especially the NHS. Moreover, councils will be expected to produce a plan showing how they will achieve more with less by using AI. I have several concerns about this as a plan to improve productivity and, ultimately, the economy. First, the term "AI" is used very liberally but does not mean much. Second, much of what is touted as AI comprises old technologies—mutton posing as lamb. Third, a lot of what the Chancellor was overly excited about looked like major projects, and, by my reckoning, the last major project successfully delivered by a government in the UK was the Leeds to Liverpool canal system. Fourth, what is driving the current excitement about AI is generative AI. Anyone who has used it will know that a lot of training is required for both the software and the users before it will be widely used and useful. In the wrong hands, these systems can produce a mountain of well-written nonsense. Next Monday, we are going to discuss the Household Fund, what we are going to do with it for six months, and what happens afterwards. The recording can be accessed from https://bit.ly/VNR240311.   While the slide pack, files and reports can be downloaded from https://bit.ly/VNP240311. Please note that the handout contains additional slides covering other items of interest in the news and job adverts, which are provided in partnership with Business Smart Solutions. We have launched a new subscription service for our CTR rewrite product. This lets you spread the cost over five years, providing steady service during this period. With the recent changes in welfare benefits and the upcoming election, this could be a helpful option for you. More information is available at https://bit.ly/CTRP23.

How AI Might Change Employee Benefits 1️⃣  Applicable Benefits Content Based On Employee Confusion ▪️"Employees want relevant and helpful content, and they want it to be available when they need it. To that end, placing the best content in front of people when they need it is certainly something in which AI can and should have a role." - Thomas Faith, Zest 2️⃣  Personalized Benefit Options Based On Employee Preferences ▪️"Too much choice is confusing. The more advanced providers will now also allow [employees] to preference themes of topics, like money or wellbeing, and give [them] a more personalised and tailored benefit scheme." - Gethin Nadin, Benefex and Zellis 3️⃣  Reduction of Manual Enrollment Mistakes (Possibly Changing Benefits Enrollment Cycles?) ▪️Sahil Sethi, CEO and co-founder of financial wellbeing platform Maji, says: “Benefit enrollment windows will continue to become more flexible. Employers are increasingly moving to quarterly benefit cycles, with some even allowing monthly changes, for example in changing pension contributions or corporate ISA savings via payroll.” #employeebenefits #healthcare #ai #hr https://lnkd.in/gXUXCyYh

Is AI the future of HR?   With employers scrambling to responsibly and effectively deploy artificial intelligence, HR professionals are in a unique position to lead the way.   Read more about how talent management, health and benefits, and retirement planning can benefit from AI. https://aon.io/3ydCI3C #ArtificialIntelligence #AI #AIinHR

Is AI the future of HR?   With employers scrambling to responsibly and effectively deploy artificial intelligence, HR professionals are in a unique position to lead the way.   Read more about how talent management, health and benefits, and retirement planning can benefit from AI. https://aon.io/3ydCI3C #ArtificialIntelligence #AI #AIinHR

Is AI the future of HR?   With employers scrambling to responsibly and effectively deploy artificial intelligence, HR professionals are in a unique position to lead the way.   Read more about how talent management, health and benefits, and retirement planning can benefit from AI. https://aon.io/3ydCI3C #ArtificialIntelligence #AI #AIinHR

Is AI the future of HR?   With employers scrambling to responsibly and effectively deploy artificial intelligence, HR professionals are in a unique position to lead the way.   Read more about how talent management, health and benefits, and retirement planning can benefit from AI. https://aon.io/3ydCI3C #ArtificialIntelligence #AI #AIinHR