Product Review: Benely

The Business Blocks

Job seekers, when searching through job listings, in addition to compensation are also considering the benefits included in the employment package.  On the part of employees and applicants, these benefits are essential; these benefits can be used to take time off, stash away funds for retirement or pay for healthcare. Providing excellent benefit packages can help a business attract more aspirants and retain talented employees in its workforce.

In addition to salary or compensation and career growth, employee benefits boost the merits of working for an organization and can give its workers the chance to promote their health and enhance their quality of life. When employees are satisfied with all aspects of their employment and work environment, this may lead to better job satisfaction, work-life balance and increased productivity.

This is what Benely, previously known as Navali and Company, is focusing on. Benely is a provider of HR solutions and employee benefits.

What is Benely?

Now, more than ever, for the workforce, employee benefits that are flexible, bespoke and digital are crucial.  Benely focuses on this aspect of employment, allowing the formulation of the ideal and attractive employee benefits package suitable for a business given its needs and challenges.

Benely posits itself as a provider of human resources essentials by providing two main streams of services: HRIS and employee benefits. Under HRIS, Benely’s HR solution covers employee onboarding, management of employee data, attendance tracking and leave management.  Benely also supports companies in validating compliance and in assessing efficiency through HR audit.  This platform allows aid in supporting and addressing HR concerns, provides necessary support and training for employees and offers analytics and reports based on employee data. For onboarding, it offers document management and e-signature services, use of templates for contracts, offer letters and other documents and requirements necessary for new joiners.

Under the benefits management domain, Benely offers a full suite of consultancy services, covering assessment and benefits health check of an organization’s employee benefits package, evaluation of all vital perquisites including medical, dental, vision and health insurance plans. Also included in what the company is offering are updates and upkeep of benefits, insurance and dependents data, management of an employee’s life changes and impact of these on benefits, assistance for claims and insurance needs and employee wellness programs. 

How Does It Work?

Benely offers analysis and evaluation of a company’s benefits process and particulars.  Provided with what a company is already offering or what it would want to give its employees, Benely can then devise a program or benefits packages by curating and compiling a list of health care providers, insurance companies and other third parties that can comprise the benefits that the company will endow.  The company will then evaluate existing benefits as well as other options available in the market after performing full market analysis, company goals assessment and can provide comparison among viable options.  

After a full evaluation of options, Benely can then provide options on what platform and solutions are necessary in order to realize the plans and goals that have been laid out after the assessment.  This list could comprise of Benelys’ technology partners, in addition to Benely’s HRIS and admin platform.

Benely can perform education of employees by providing benefits summaries, vendor and provider information and enrolment guides.  These costing information and comparison data could be beneficial for both the employee and employer in deciding what options are well-suited for their needs.  The company may conduct in-person or virtual presentations and counselling, prepare documents and guides to aid in assessment and selection and handle submissions and filing.

Integrations with Other Platforms

Benely allows integration with a number of benefits, insurance and health care providers; it would then collate of all these benefits into its platform with a single point of access for users, making it easy to determine what benefits are available for an employee, and the organization as a whole.  This also makes it easy to manage claims pertaining to medical and insurance concerns.

The platform allows linkage with payroll systems and applicant tracking system to boost its core HRIS with needed payroll, hiring and recruitment capabilities.

Benely provides integration with fitness devices (smart phone applications and smart watch devices), well-being assessment utilities and other e-learning tools for its wellness services. For this sphere, the company has partnered with Wellworks For You, a provider of wellness programs.

Benely allows integration with solutions such as Rippling, Ease, Paycom, Zenefits and ADP.

Pricing

Pricing for Benely’s services is largely dependent on what a company will craft for its employee benefits package. The cost will be determined after the assessment of the company’s policies and practices have been done.  

Who is the Product for?

Benely is a notable company in the employee benefit business, offering an excellent approach for employers in determining affordable, sustainable and accessible programs.  The employee benefits solution is ideal for employers who wish to offer their employees benefits that could aid in promoting their health and well-being.  The company can take care of evaluating providers for insurance and other health service providers.

Pros and Cons

Here are the factors that makes Benely an excellent employee benefits provider:

  1. Focus on a niche
  2. Bespoke packages and solutions for its clients
  3. Open enrolment for benefits
  4. Management and assessment of providers

On the other hand, these are the possible flaws with Benely’s approach:

  1. Basic HRIS
  2. Lacking information on the tools that it provides
  3. Limited to U.S. clients

Conclusion?

Benely offers a very focused and specialized set of services targeted at the niche market of employee benefits, supplemented by standard HR functions and services.  What they provide are excellent supplements to what a company is already providing to its employees and an extension of HR services.  Unfortunately, their services are limited to a specific geographic location, and have not yet been extended to cater to clients from other regions.  This probably might be due to the very nature of the services they provide such as sourcing of health care providers and insurance companies.  Having said that, a business model that can provide localized support at a global scale would be an outstanding solution, something that can expertly handle employee benefits needs especially for small and medium enterprises.