Many employees have experienced the frustration of receiving benefits that they have no use for or are not interested in. This lack of customization can lead to dissatisfaction and a sense of disconnection between employees and their company. Recognizing this pain point, Brad Brochocki, CEO of Bundl, developed a solution to allow employees to build and tailor their own rewards package.
Key Takeaway
Bundl is a total rewards software that allows employees to customize their benefits package, addressing the issue of employees receiving benefits they have no use for. This platform aims to increase employee satisfaction and engagement by giving them autonomy over their rewards.
Bundl is a total rewards software that empowers employees to choose the benefits that align with their personal needs and wants. The idea for Bundl came to Brochocki after he received an offer for a commuter pass, despite driving to work every day. Realizing that he was not alone in his frustration, Brochocki sought to create a platform that would give companies insight into what benefits their employees truly desired.
Customizing Rewards to Fit Employee Needs
Unlike other platforms that use debit cards with pre-loaded funds, Bundl offers a more flexible approach. With Bundl, employers can create a list of benefits and perks and specify which job roles and titles are eligible for each one. Employees then have the freedom to build a rewards package that best suits their requirements.
For example, an employee may choose to remove the fitness stipend and instead add more equity to their package. They could also opt for a four-day work week by accepting a 10% reduction in compensation or exchange a portion of their paid time off for a larger work-from-home stipend. By offering this level of customization, Bundl allows employees to have a greater say in their overall rewards package.
Insights for Employers
By collecting and analyzing the data on employee-selected benefits, Bundl provides employers with valuable insights. Employers can view a dashboard that shows the most and least desired rewards and filter the data by role and department. This information allows employers to better understand what motivates and retains their employees, enabling them to make more informed decisions about future rewards and benefits.
Moreover, Bundl has plans to anonymize the data in the future, so employers can gain a broader perspective across different companies and industries.
Early Success and Future Plans
Bundl officially launched earlier this year and has been working with a select group of companies in its early access program. Brochocki and co-founder Justin Hundley have bootstrapped the company, but they are now focused on building integrations with larger HR platforms to onboard the almost 100 waiting customers.
This innovative approach to employee benefits has the potential to transform the traditional model, giving employees the freedom to choose their own rewards and employers the ability to better understand and cater to their workforce. With Bundl, companies can enhance employee satisfaction and engagement by offering a personalized rewards experience.
