While HR teams often think of flexibility in terms of remote work, employees also want professional development opportunities, flexible hours and benefits that meet their unique needs, like daycare reimbursements.

Convertible benefits can help CHROs accomplish this goal by reallocating resources that have already been budgeted to personalized forms of support for their employees.

Since 60% of employees struggle to use all their paid time off, companies can repurpose it into other benefits employees want (HSAs or student loan payments), create employee emergency funds, or provide early wage access.

New benefits analytics tools give managers real-time data to showcase which benefits are being utilized and by whom.