LAST REVIEWED Apr 28 2020 3 MIN READ
By Margarette Jung
At Human Interest, we know that the 401(k) industry and employee benefits in general are well overdue for a tech overhaul. In an age where you can pay for groceries with your phone and split bills virtually with your friends, it feels like technology has yet to reach certain industries — and it’s usually the ones that need it the most! HR seems to be one of the worst offenders, and stuck in the paper-and-pencil era of decades past. Unfortunately, this means HR is synonymous with frustration for a lot of companies and employees.
A lot of the red tape around 401(k)s and HR just seem to defy reason. By this, we mean that certain transactions and processes should just be reasonable. Is that too much to ask? Employees should be able to withdraw their own hard-earned money without having to pay a fee. Employers should be able to quickly add new employees to a retirement benefit as soon as they start working. Often, these very reasonable, logical things just don’t happen the way they should, which is why Human Interest built our 401(k) product in the way that we think they should be run — reasonably, helpfully, and fairly. Technology can help with all of these, while also improving efficiency and affordability.
We love seeing other companies in any industry, but particularly HR, that are challenging the status quo with new technology. We partnered with several other innovative technology companies to explain why we all do what we do to help employees at every stage of their “HR” lifecycles at a company:
Recruitment and Onboarding: Greenhouse
Benefits & Compensation: Human Interest
Learning & Development: Udemy for Business
Employee Recognition: Blueboard
Employee Feedback: Culture Amp
Here is the link to access the whitepaper, put together by the great folks at Udemy: HR Tech Engagement Stack Guide
Margarette Jung is a former Head of Marketing at Human Interest.