STORM holds exclusive forum on latest trends in flexible benefits

March 06, 2018 | News


STORM Technologies (STORM), the leading benefits technology firm in the Philippines, recently reported that 53% of employees attribute their company’s flexible benefits design as one of the reasons they decided to work there, while 48% report it as one of the reasons they stay.

The data is from the latest Flexible Benefits Trend Report, an annual survey highlighting key insights obtained from companies implementing a flexible benefits program through the STORM Flex platform, an online benefits administration system that allows employees to convert benefits to points that they can use in a marketplace. The 2017 report consolidates data gathered from over 18,000 employees of the country’s top companies, with the aim of assisting employers in improving attraction and retention in their respective organizations.

“What we’re trying to show in the Trend Report is there are a lot of things we can improve on with regards to employee benefits. We are encouraging HR leaders to look at their benefits program, evaluate why they give certain benefits, assess how these impact employees, and if there are other needs they can satisfy through benefits,” said Danilo Alcoseba II, Product Head of STORM Flex, during an exclusive event with selected executives and HR leaders of various corporations.


See more: Results of the Flexible Benefits Trend Report 2017

Following the presentation of the report, a group of HR leaders participated in a panel discussion moderated by STORM founder and CEO Peter Cauton to provide insights on the report. They also shared their experiences in transforming their benefits program, and how they used flexible benefits as a way to improve their benefit offerings. Some highlights of the panel discussion:

  • “We learned that employees want to share their benefits with their families; the benefits package we offer by default would not be as relevant depending on the specific lifestage a person may be in; and they wanted more empowerment in terms of the benefits items they would receive. With that, it’s a very perfect marriage with what STORM offers. We’ve seen improvement in engagement, and we still see more potential with the program.” –Gerard Villanueva, HR Executive for Compensation & Benefits of Nestle Philippines
  • “Flexible benefits has been key for us to in adjusting and adapting to a very fast changing demographic. As the demographic changes, the priorities change as well. With flexible benefits, we’re able to reduce the risk because it’s not locking us in on certain benefits. It allows us that flexibility and agility that is very imperative to our business and to our industry.” –Sheila Ferrer, Center Operations Head of Capgemini
  • “Our program also increased engagement via communication because there is a lot of talkability when you offer flexible benefits. Because if you have traditional benefits, it’s basically cascaded down to employees. But this time, employees go more to HR looking for additional offerings of the program. It’s interesting because you get to know your employees better.” –Pam Bernardo, HR Head of Greenwich
  • “We believe in giving Sun Lifers time off to rest, and making sure that their health and their lives are insured. That’s our philosophy and our culture as an organization. Despite the overwhelming data to suggest that we should have flexed our leaves and health benefits, we didn’t and we kept to that. You have to go back to who you are as a company and it can work either way–the important thing is giving your employees the power of choice. And I’m happy to say that employees absolutely love the STORM system. –Hiyasmin Mattison, Chief Human Resources Officer of Sun Life Philippines

The panelists also emphasized the importance of crafting a flexible benefits offering that supports an organization’s corporate strategy to help ensure the program’s success. Other key themes discussed in the panel and the Trend Report include consistent and tailored communication to employees, as well as trusting employees by giving them more control over the benefits they receive.


“Giving employees choice over their benefits all boils down to trust. The Flexible Benefits Trend Report gives us hard data on what is converted and what is used in STORM’s online marketplace. What we want to emphasize is the trust that is given to employees. Giving employees the choice to convert his or her benefit, and to choose the benefits they want for their own lifestyle will have a positive impact for both the employee and the company,” concluded Cauton.


Book a meeting with our representatives to learn more about the STORM Flex platform and the Flexible Benefits Trend Report 2017


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