This is a 2019 SHRM Annual Conference and Exposition (#SHRM19) interview is with League, a cloud-based health benefits platform. Below is a quick Q&A with the CEO & Founder, Mike Serbinis.
Who is League!? Tell us everything, just as you would someone approaching your booth and asking you this question at #SHRM19 in Las Vegas.
League is the health benefits experience platform for some of the world’s most forward-thinking companies like Shopify, Unilever, Lush Cosmetics, and more, managing costs and turning insurance and benefits into a competitive advantage for employers. League provides a seamless digital and personalized experience for employees and employers, serving as a single access point for all things healthcare, benefits, and lifestyle. The experience is one that employees use and love — while at the same time helping employers reduce overall costs. On average, 70 percent of League members engage with the platform monthly, and about one-third to one-half of customers visit every two to three days. We also have a Net Promoter Score of 84, nine times higher than the industry standard of eight.
League’s cloud-based infrastructure connects forward-thinking businesses and their employees with health insurance, flexible spending accounts, curated health journeys and on-demand, live health support.
Let us in on the magic. What are the benefits like at League? How do you utilize your own tech and processes to ensure your employees are healthy?
League’s vision for health benefits is that they should be flexible, personalized, preventative, and easy to use. Our mission and business model empowers people to live healthier lives every day and we extend this to our workplace as well. All employees engage with their benefits through the League platform.
We offer generous benefits to encourage holistic health and wellness, in addition to a rich healthcare plan, we offer perks such as remote work options, access to healthy snacks at work, complimentary breakfast and lunch, $5,000 for fertility support, paid maternity and paternity leave, complimentary ClassPass memberships, 401K contributions, unlimited PTO and more.
Employees have access to a weekly massage therapist who comes on site, as well as weekly yoga and fitness classes.
League employees are also given $1,000 for their own Lifestyle Spending Accounts where they can use funds for fitness classes, fitness apparel, professional development such as skills training, financial planning, or any range of services.
What are the biggest challenges companies face when providing health benefits to their employees? How do they overcome those challenges?
The biggest challenge for companies when providing healthcare benefits is a lack of engagement.
The experience is so difficult to understand and navigate that generally employees only engage with their insurance providers when they are ill or need serious help.
Companies can overcome the poor experience by integrating a holistic platform that is designed to make healthcare, benefits and lifestyle benefits and programs accessible and easy of use. A platform like League’s Health Benefits Experience platform (HBX™) can integrate all parts of the process into a seamless digital experience and help proactively build healthy lifestyle habits. This always-on relationship is the foundation of preventative health and helps reduce healthcare costs.
What do you wish more HR professionals knew about health benefits?
Employees want a benefits experience that is easy to use and customizable, not an experience that is confusing, frustrating, and unengaging. In every other industry, consumerization is transforming the way people do just about anything -- watch movies, vacation, listen to music (Netflix, Airbnb, Spotify). League brings a “consumerized” approach to health and benefits and puts control back into the hands of employees —people — directly.
How important are these benefits in employee retention and happiness?
Our belief is that health and wellness is not just about benefits, but also creating a comprehensive set of strategies that include programs, policies, benefits, environmental support, and links to the surrounding community designed to meet the health and wellness needs of all employees. Benefits are a competitive advantage for companies if leveraged properly, in fact, according to Glassdoor 89 percent of millennials prioritize benefits over pay raises, and 83% of them would change their job for better benefits. With this mindset shift already underway, investing in your benefits experience has a tremendous impact on talent & retention. League customers are a perfect example of this, with some organizations seeing up to 23 percent drop in turnover after implementing League.
For anyone who won’t be able to make it to the League booth in Las Vegas, what do you want them to know?
With a multigenerational workforce and a changing workplace comes a disruption in the traditional health insurance model. Today's employees expect personalized, preventive, always-on service; 90 percent demand a digital experience; and by 2025, less than 20 percent will be satisfied by complex, archaic, “one-size-fits-none” plans. Join League founder and CEO, Mike Serbinis at his session on Monday, June 24 to learn about why the future of health insurance is about health, not insurance, and about empowering employees to be healthy every day.
Visit the League booth League booth #2609 at #SHRM19!
Brett Farmiloe is the Founder and CEO – and currently CHRO - of Terkel.io, a platform where business leaders can answer questions related to their expertise and get published in articles featuring their
insights. Brett is a #SHRM22Influencers and has also been a keynote speaker at several state SHRM conferences around the topic of employee engagement.
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