Management Consulting
Aon
Full Credential Description
Aon collaborated with Invesco, a global investment management firm, to address the challenges of harmonizing employee benefits across 1,800 employees in 16 EMEA countries. The primary issue was the inefficiency of a paper-based administration system, which involved managing nearly 30 spreadsheets, leading to slow reporting and cumbersome processes. Invesco sought a solution that would not only streamline benefits administration but also align with the complex regulations of each country while enhancing employee engagement. To tackle these challenges, Aon implemented a self-service digital platform branded as the Invesco Benefits Portal. This platform allows employees to view and transact their benefits through a single, intuitive online interface, accessible from any internet-ready device. The portal features a dual role: it serves as an online library of country-specific benefits information and provides transactional capabilities for employees to make benefit selections securely and efficiently. The implementation process began in May 2019, with Aon working closely with Invesco and local benefit providers to navigate regulatory complexities. The results of this initiative have been significant. Employee engagement levels soared, with over 90% of employees in each country regularly using the platform. Invesco now benefits from operational dashboards that provide critical management information, enabling the company to understand the effectiveness of its benefits offerings. This data helps Invesco make informed strategic decisions regarding benefits, ensuring they meet employee needs while also managing costs effectively. The transition to the digital platform has led to major advances in efficiency and accuracy, transforming the employee experience and aligning with Invescos inclusive culture.