AKUNAWAREAll-in-One Total Rewards Solution Contents at a Glance1. Introduction2. AKUNAWARE . . . What it is (and what it isn’t) How it works Why it matters to brokers and employers Value proposition for brokers3. It’s Time: the key features
AKUNAWARE All-in-One Total Rewards Solution1. Introduction Peter Drucker, legendary management consultant, once said: "What gets measured, gets managed." Drucker espoused the benefits of metrics decades ago, yet in 2012, few companies have gained from this wisdom. What companies have instead is a preponderance of data. Companies (and workers) suffer from “data overload." The critical problem companies face is gaining actionable insight from all of this data.
AKUNAWARE All-in-One Total Rewards Solution1. Introduction The greatest gains from pay and benefits have been made by Best-in-Class organizations that have automated the process of collecting data. To maximize competitive advantage, the Best-in-Class fully integrate existing workforce management applications with the Total Compensation Management (TCM) system. Best-in-Class Average Laggard Improved revenue per employee 90% 46% 5% ? Improved labor costs 83% 2% 0% ? Improved job satisfaction 73% 32% 3% ? Improved employee retention 64% 17% 4% ?
AKUNAWARE All-in-One Total Rewards Solution1. Introduction AKUNAWARE is SaaS that converts hidden payroll and benefits data for TCM, and through collaboration efforts with benefits consultants, Best-in-Class organizations maximize ROI and gain significant competitive advantage. You may already be thinking: Don’t companies have a system for managing this critical data? The simple fact is: while planning, reporting, and analysis can be automated with traditional business intelligence (BI) applications, these systems are too costly, too complex, and too time consuming for most companies to implement and manage.
AKUNAWARE All-in-One Total Rewards Solution1. Introduction Most companies (58% of large corporations, 79% of mid-sized and 92% of small business) utilize unreliable methods for managing payroll and benefits costs. They tackle the job with spreadsheets and an impromptu mix of reports and manual processing. This approach has many drawbacks including limited reporting abilities, high error rates, and lack of real-time visibility and collaboration capabilities with benefits consultants.
AKUNAWARE All-in-One Total Rewards Solution1. Introduction In Summary • It’s critical for companies to gain actionable insight from their data to achieve Best-in-Class position; • SMB is ripe for a solution that is not too costly, too complex, too time consuming and delivers huge ROI; • The solution: must be affordable (not $100,000 to $1M), simple to implement, require no IT involvement, provide real- time visibility and allow collaboration with consultants Combined, this presents strategic and forward-thinking brokers with a proactive way to take charge when a) margins are strained, b) retaining customers is imperative, and c) the industry is at a crossroad
AKUNAWARE All-in-One Total Rewards Solution2. AKUNAWARE, what it is AKUNAWARE is an invaluable app on your desktop, laptop, and mobile device It’s provided at no cost (or low cost) to brokers It adds new revenue to your bottom line!
AKUNAWARE All-in-One Total Rewards Solution2. What it is not not HRIS not payroll not TPA system not claims analysis not online enrollment not benefit administration
AKUNAWARE All-in-One Total Rewards Solution2. AKUNAWARE, how it works DATA flows seamlessly from silos (including any of these systems) . . .
AKUNAWAREAll-in-One Total Rewards Solution2. AKUNAWARE, how it works . . . into AKUNAWARE
AKUNAWARE All-in-One Total Rewards Solution2. AKUNAWARE, how it works PARTNER pricing is based on multiple census data (stacked in one file) using a single template format
AKUNAWARE All-in-One Total Rewards Solution2. AKUNAWARE, how it works We carve out each census and pre-populate AKUNAWARE for each employer regardless of the number of employees!
AKUNAWARE All-in-One Total Rewards Solution2. AKUNAWARE, how it works NEW! “Book-of-Business” view for competitive pricing, analysis, and metrics
AKUNAWARE All-in-One Total Rewards Solution2. Why it matters to employers Money talks. Employer Goals/Objectives It’s no surprise when a company wants to get the attention - or retention - of employees, they turn to payroll. Return on Investment But in the midst of a tough economy and tight budgets, the answer doesn’t lie in padding payroll, it comes from using pay VALUE (and benefits) more wisely to extract maximum VALUE from Return on the current investment. Experience TRUE VALUE comes at the intersection of EMPLOYER goals Employee and objectives and EMPLOYEE needs; where the business Needs/Expectations realizes ROI and the employees’ needs and expectations are met
AKUNAWARE All-in-One Total Rewards Solution2. Why it matters to brokers Better ROI From Benefits Employer Goals/Objectives Just offering benefits isnt enough. Strategic brokers assure employees comprehend their complete benefits package. Return on Investment Research shows a direct connection between how well employees VALUE understand their benefits and whether they experience VALUE. Return on Experience In a climate of economic and regulatory uncertainty, strategic brokers take steps to ensure their clients get the best Return on Employee Investment with maximum VALUE including: Needs/Expectations 1. Understand each client’s competitive position 2. Be creative in managing the costs 3. Strengthen the connection with employees
AKUNAWARE All-in-One Total Rewards Solution2. Why it matters to employees Pay and benefits are the largest business expense (50% in private companies and upwards of 80% in public employers), yet most employers lack clear visibility into these costs. As a consequence, employees lack understanding as to the Private employer total cost and VALUE of their Total Rewards package. Benefits: $8.25/hr Salary: $19.85/hr When companies have meaningful insight into these costs they can operate more profitably. Profitability matters! In fact, it’s imperative for everyone involved, including the employees.
AKUNAWARE All-in-One Total Rewards Solution2. The value proposition for brokersAKUNAWARE PARTNERS can expect to: Transform your role with HR: become a strategic advisor providing proactive value-added business intelligence Win the confidence of the CFO: provide unprecedented information to support budgets, model and forecast pay and benefit budgets Enlighten clients: convert inactive client data into powerful information and drive planning, profitably and the attainment of intended results CONNECT Educate Employees: assure that the value, investment and importance of Total Rewards is clearly (and routinely) communicated to employees
AKUNAWARE All-in-One Total Rewards Complete Package SolutionCOM MUN CS IC ATIO TI N ANALYDEMOGRAPHICS It’s Time! BENCHMARKING CO T IF” ST HA SH “W AR ING CA G PA AF P IN NN FO METRICS LA RD P A BI LI TY