Corestream Platform Enables Morneau Shepell's Clients to Dynamically Add Benefits and Create a Personalized Employee Experience Minus the Administrative Burden on HR
TAMPA, Fla., June 30, 2020 /PRNewswire/ -- Corestream, the leading platform for connecting employees with personalized lifestyle benefits, today announced it was chosen by Morneau Shepell, a leading provider of technology-enabled HR services, to bring an ever-growing number of personalized lifestyle benefits to the millions of employees Morneau Shepell serves. Personalized lifestyle benefits, also known as voluntary employee benefits, are vital to attracting and retaining the best talent, as well as to maintaining employee engagement throughout the recent abrupt shift to a period of remote work.
The Corestream cloud-based platform is an employer-branded source for voluntary benefits education, communication, enrollment and administration. With Corestream greatly simplifying the way in which personalized lifestyle benefits are offered and administered by HR, and the way those benefits are understood and selected by employees, both the variety of benefits and employee participation rates continue to climb.
"We did a great deal of due diligence before selecting Corestream as a preferred provider for our voluntary employee benefits programs," said Norah Joyce, Chief Commercial Officer and EVP at Morneau Shepell. "A growing number of the HR professionals we work with recognize the importance of these benefits to creating an engaged employee experience. Corestream makes it possible for them to deliver a greater number and variety of benefits, without incurring additional administrative overhead. It gives HR professionals a new way to be even more effective in their roles."
Corestream's voluntary benefits portal is a highly-visible reminder to employees of their employer's commitment to support all aspects of their lives. From financial literacy to retail discount programs to pet insurance and much more, Corestream allows employers to offer in-demand personalized lifestyle benefits and achieve a higher standard of employee engagement. In addition to providing employees with a superior user experience, Corestream also handles all of the administrative work on the back-end, including payroll integration, premium reconciliation, consolidated billing, provider contracting, and payment remittance.
The Corestream platform is designed to be scalable to meet the needs of even the largest employers, regardless of how many voluntary benefits they add over time. Corestream currently manages voluntary benefits deductions for 1.5 million employees and reconciled $135 million in premiums for its partners over the course of 2019.
"HR departments are increasingly leaning on voluntary benefits to help attract and keep the best talent engaged," said Neil Vaswani, co-founder and CEO of Corestream. "Our partnership with Morneau Shepell allows thousands more HR professionals to meet employee demands and increase job satisfaction without taking on additional administrative headaches. The Corestream platform streamlines the entire voluntary benefits administration process and turns the HR team into a company's heroes."
Corestream is a leading voluntary benefits technology provider that believes the success of any organization relies on the overall wellness of its workforce, from physical and mental health to financial wellbeing. Corestream's revolutionary SaaS platform scales the distribution and adoption of voluntary benefits to become an integral part of protecting and enhancing the employees' livelihood. By removing barriers and streamlining administration, Corestream has become a powerful tool in the arsenal of HR teams, brokers, vendors, and employees. For more information, visit Corestream.com.
About Morneau Shepell
Morneau Shepell is the leading provider of technology-enabled HR services that deliver an integrated approach to employee wellbeing through our cloud-based platform. Our focus is providing world-class solutions to our clients to support the mental, physical, social and financial wellbeing of their people. By improving lives, we improve business. Our approach spans services in employee and family assistance, health and wellness, recognition, pension and benefits administration, retirement consulting, actuarial and investment services. Morneau Shepell employs approximately 6,000 employees who work with some 24,000 client organizations that use our services in 162 countries. For more information, visit morneaushepell.com.