Forma

🎭 Claim of the Week 🎭 One of our Forma members decided to tackle stress and boost their confidence by enrolling in a comedy class. Using their Lifestyle Spending Account (LSA), they signed up for the class and took the stage for the first time. The experience was transformative. Not only did they find joy in making others laugh, but they also developed new skills in public speaking and creativity! This story highlights how LSAs can support your personal wellness journey. Whether it's trying a comedy class, joining a fitness program, or exploring new hobbies, LSAs are designed to help you achieve a happier, healthier life. 🔁 Share this wellness claim with your network! 😃 Used your LSA on a unique benefit recently? Comment below! #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

Average utilization rates for perks across companies are astonishing. In a bad way. 🤯🫠 In our annual benchmarking survey, we asked benefit pros across industries and sizes about the perks they offer and how well employees utilize them. The results? Not so great. Utilization rates hover around 30% for the top 10 perks. The only bright spots: rewards and recognition benefits at 55%, and team building/recreation at 64%. When employees don't use their benefits, they miss out on essential support, and companies waste resources on underutilized programs. Want to turn this around? Check out our 2024 state of employee perks & wellness infographic for insights and recommendations: 2024 Report. P.S. What tip do you have about how to turn a benefit from underutilized 😞 to loved 😍? Share below! 👇 #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

Balancing benefits administration and employee needs is tough. But Dominique Schroeder at Guild found a way to simplify their programs and boost employee satisfaction. See how they leveraged customizable spending accounts to meet the diverse needs of their growing workforce and improve ROI. In this case study, you will learn about: - The business case for flexible lifestyle benefits - Designing a next-gen flexible benefits program - Launching a benefits program focused on choice - The positive impact on employees, benefits, and finance - Lessons learned and future growth strategies Read the full case study and see how you can apply these insights to your organization. https://lnkd.in/gq7HpDrs #EmployeeBenefits #ROI #WorkforceGrowth #FlexibleBenefits #CaseStudy

“This is going to change people’s lives” 👀 Intrigued? A shocking new study proves that a new fitness trend is here to redefine the boundaries of employee well-being. What’s the trend? Virtual reality workouts! 🏋️💪 Our new partnership with Meta allows Forma Store members to purchase the Meta Quest 3 bundled with a Supernatural membership. This collaboration made us curious about VR workouts and whether they’re a good form of exercise. 🤔 We were (pleasantly) surprised by what we found! A study by the University of Victoria shows that VR workouts are as effective as running, boxing, and swimming. Supernatural VR workouts qualify as vigorous activity, making them a highly efficient and engaging way to exercise. Forma's Lifestyle Spending Accounts (LSAs) enable employees to choose wellness options that suit their needs. By adding Meta Quest to our offerings, we're breaking down barriers to fitness, making it fun and worthwhile. 🤝 🔹 Want to dig into the research? Check it out here: https://hubs.la/Q02JvMh90 #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount #Meta

Don’t forget to sign up! Our LIVE product demo is happening tomorrow 👇 Come see: 1️⃣ How LSAs create more value for employees while helping companies save 2️⃣ Three flexible ways employees can use their benefit dollars 3️⃣ Exclusive, data-driven tips to design a leading LSA program 📅 Date: Thursday, August 1 🕚 Time: 11 a.m. PT | 2 p.m. ET 🚀 Register today and take the first step towards revolutionizing your employee benefits! ♻️ Repost this to share with your network! Registration link: https://hubs.la/Q02JvMyY0 #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

I recently returned from a trip to Japan and narrowly missed the chaos caused by the Crowdstrike outage that affected thousands of travelers. Airlines are now scrambling to compensate passengers with miles and vouchers, which got me thinking: why are we often more deliberate with our airline miles, credit card points, and hotel rewards than with cash? Behavioral economists explain this through concepts like the Endowment Effect and mental accounting. We value what we own more and categorize money into different 'accounts'—each valued differently. We’re also more sensitive to losing something we already have (hello, loss aversion!). This concept also explains exactly why Lifestyle Spending Accounts (LSAs) are so effective. LSAs create an emotional attachment for employees. Rational or not, these accounts make us think carefully about how to use the funds. The items or experiences acquired through LSAs are valued more. (We have evidence: our conjoint analysis proved LSAs have a 53% higher value perception for benefits chosen by employees versus those chosen by the employer. Comment below if you’d like a copy of the report.) Some might argue, “Why not just give employees cash directly in their paycheck?” This might seem logical, but you’re missing the point. Cash can easily become 'out of sight, out of mind,' not creating the same emotional connection. LSAs drive meaningful incentives towards outcomes employers desire: investments in health and wellness, better work-life balance, professional development, and more. Am I crazy? Do you have any thoughts? Any research you've come across that backs this theory up? #LSAs #HRInnovation #EmployeeBenefits #EmployeeRetention #CompanyCulture

📖 A great read investigating the growing interest in LSAs. Check it out! 🔗 https://hubs.la/Q02JbGfy0 Many employers have reallocated their benefits budgets into Lifestyle Spending Accounts (LSAs). Sara Taylor, Senior Director of Employee Spending Accounts at WTW, shared that many organizations are finding success by repurposing funds from underutilized benefit programs to invest in more impactful initiatives like LSAs. Beyond typical benefits—medical, dental, life insurance, and so on—employers might offer 20 to 30 additional types of benefit programs. These include adoption assistance, education reimbursement, well-being plans, weight loss programs, and various incentives. That’s a lot! By reallocating resources to prioritize initiatives like LSAs, which can benefit a larger portion of the workforce with more personalization, employers can maximize their benefits budget and boost employee engagement without spending a dime more. #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

🔭 Claim of the week 🔭 Wellness is out of this world! A Forma member recently discovered the wonders of the night sky with their refracting telescope. They used their Lifestyle Spending Account (LSA) to purchase the telescope and embark on a journey of celestial exploration. The member found that stargazing brought a sense of calm and curiosity, helping to reduce stress and improve mental well-being. The refracting telescope allowed them to see planets, stars, and even distant galaxies, making every night an adventure. Whether it’s discovering the universe, trying new hobbies, or exploring mindfulness practices, LSAs are here to meet your needs and help you achieve better overall well-being. 🔁 Share this wellness claim with your network! 😃 Used your LSA on a unique benefit recently? Comment below! #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount #ClaimoftheWeek

Forward-thinking companies have embraced a new fitness activity in their Lifestyle Spending Account (LSA). Check out our latest newsletter to learn what's trending in employee fitness and how employers can help boost employee well-being in fun and exciting ways. Meta #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

 🚀 We're Hiring! Join Forma as Our First Principal Product Designer 🚀 Are you an experienced, talented designer looking for your next big challenge? Forma is seeking a Principal Product Designer to join our lean, dynamic team! About Forma: At Forma, our mission is to revolutionize the way businesses manage their benefits programs, unifying and consolidating various offerings into one seamless experience. We are committed to creating innovative solutions that empower companies and employees alike. As our first Principal Product Designer, you'll: - Lead and execute design projects, wearing multiple hats as needed. - Establish strong design practices and elevate our team's skills. - Be a thought partner for leadership, influencing product direction. - Quickly create and iterate on concepts, providing suggestions and ideas across product units. - Navigate effectively with stakeholders, customers, users and leaders. - Thrive in a small team where creativity and uniqueness truly matter. If you're passionate about design, thrive in a small team, and are excited about evangelizing design within the organization, we want to hear from you! Apply now: https://lnkd.in/gHgPBTnR #hiring #design #productdesign #principaldesigner #joinus #Forma #careers #benefits #innovation