Digital technology is now firmly embedded in our daily lives. From smart devices to wearable tech, the digital age is well and truly established. So why do so many businesses resist the change?
According to the Telegraph, “almost a third of business leaders in the UK admit their organisations are laggards when it comes to adopting new technologies.”
One-stop information shop
The greatest thing about these digital platforms is that they area central point to store information. Your people can access the information they want, when they want. Share plans are complex and complicated, so understanding them takes time – and each person will know when the best time for them is.
And we’re so used to self-serving online, why wouldn’t we want to harness this independence? It reduces the pressure on HR departments and line managers as your employees can browse the information at their leisure and manage the joining process themselves.
Even better – make your platform easily accessible, and employees can continually return to monitor the progress of their shares.
Bring your brand to life
These digital platforms let you talk to your people directly about why you’re launching a share plan, and what you want them to gain from it. So get creative, and tell your story!
We regularly produce share plan microsites for our clients. For our property client, we used a house motif to bring their timeline to life. For our livestock client, we’re using images of animals. And for one of our retail clients, we’ve included videos from the CEO.
All of this means that, even though the content is new (especially for colleagues who’ve not been involved in share plans before), there is still a degree of familiarity. Your share plan might have its own name or even a logo, but it still fits with the overall branding of the organisation, building trust and rapport. And that has benefits well beyond the share plan itself.
Microsites, intranets and websites
But using digital platforms for employee communications can do more than share information.
When you provide a place for employees to self-serve, interact and communicate with each other, you also help build a sense of camaraderie and community. Digital platforms encourage collaboration and idea-sharing, and put people in all departments on a level playing field. They help bring your share plan to life, empowering your people to participate – and to know if that’s the best thing for them.
Technology brings new opportunities every other month. Use this to your advantage! By improving the user experience, your people will spend longer on your platform – and therefore make a better decision for themselves.
You can use your digital platform to host interactive tools, like share plan calculators. Bringing the share plan to life, and give your people the ability to see exactly what their contributions could return. They can see the cost and the benefits that joining a share plan could have on their financial situation, and choose what’s right for them.
Continuous engagement and education
The best part of a having a digital hub for all your share plan communications, is that you can always point people back to it.
New joiner? Here’s all the information you need, right at your fingertips.
Launching again next year? Add a new section for the new opportunity, knowing your people will already be familiar with it.
Even better, a hub like this is a fantastic tool for financial education for all your people. We offer our clients the opportunity to have regular content uploaded to their microsites, covering everything from stock markets and AGMs to inflation and credit cards. And in times of such economic uncertainty, your colleagues will appreciate this – whether they’re in your share plans or not!
Their vote matters
More and more people are becoming interested in how organisations work, and will make choices based on perceived social responsibility – as a customer, but also as an employee. So it’s no surprise that they want to have their voices heard. One of the key benefits of joining a share plan is having a say at your Annual General Meetings (AGMs).
By using online voting platforms, organisations can be more inclusive. Share plan participants can vote from wherever they are. This is particularly helpful if you’re a global organisation, with employees all over the world. You’re not inadvertently giving a louder voice to people who happen to work in the right country or city.
As our web developer Darren says, “Online voting allows you to keep your voting period open for days or even weeks, giving your people more time to exercise their voting rights. You can use your microsite to explain how the process works, and encourage your people to really think like an owner and use their vote.”
As an employer, you want your employees to understand what’s being offered. Digital platforms help improve communication, collaboration and connection. Investing in digital platforms for your share plan will provide you and your people with the tools you need to help make the best decision for your situation.
If you’d like to explore how a microsite could help you, get in touch. Our team of reward and communications experts are here to help.