Tenure makes Canada’s Top Companies To Watch 🇨🇦

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Founded: Jonathan Hilis
Website: https://tenurerewards.com/

Elevator Pitch: Meet Tenure, that platform that is redefining employee benefits beyond generic health plans or standard rewards. We empower companies to offer personalized, purposeful, and portable benefits, allowing employees to choose and carry their tailored packages to any company. This not only streamlines and reduces administration and procurement costs but also enables employees to customize benefits, from dental and medical coverage to mental health support, retirement plans, debt repayment, and vacation funds. No more generic, one-fits-all strategy for employee benefits – the future is personalized, purposeful, and portable. With Tenure, the fusion of customization and convenience is transforming the paradigm of employee benefits.

Growth to Date: Tenure currently has 15 companies, with 1,500 employees signed up for phase one launch, redefines workplace engagement. In Phase One, employers can provide targeted monetary incentives aligned with employees’ personalized savings goals, ensuring rewards are tailored to individual preferences. In addition to employer rewards, automated features like savings matching, cashback, and round-up on purchases expedite the growth of employees’ savings, facilitating the achievement of their individual savings goals. Employers can scale reward criteria and budgets, enabling the definition of earning mechanisms within the company, adaptable to the company’s financial performance. In this phase, Tenure aims to quantify improvements in employee engagement, including reduced turnover, increased productivity, and elevated company internal Net Promoter Score (NPS).

In what way AI is shaping your industry? AI is revolutionizing the execution of organizations, facilitating the creation of highly personalized benefits for both employers and employees. By enabling streamlined trend analysis, AI has eliminated the outdated one-size-fits-all approach, paving the way for more personalized strategies. As AI continues to advance, we anticipate the rapid evolution of more sophisticated products that will swiftly enhance the lives of our customers.

What’s next? Following the personalized and purposeful focus of the first phase, our next phase emphasizes the portability of employee benefits. Collaborating with industry partners, we aim to streamline the process, enabling companies to easily activate and deactivate benefits, while empowering employees to carry these benefits with them. This innovation will revolutionize employer competitiveness, allowing for flexible cost benefits that can be strategically leveraged in hiring and employee retention efforts.

Source: Founders Beta