Engaging Super Members in their Daily Routine

How can we make superannuation a relatable, user-friendly experience that’s seamlessly integrated into members’ daily lives?

Every innovation starts with a question. And this is mine… How can we make the intricate world of superannuation both user-friendly and engaging?

Enter the concept of ‘Digital Ecosystems’

Think of this concept as building bridges between everyday platforms and specialised services – making them effortlessly accessible, where ever you are. To kick off, let’s take a look at some examples across different industries.

Digital Employment Platforms – Employment Hero

As employees update their address or contact details in their employment profile, an integrated feature could automatically prompt them with the option to simultaneously update their super fund details, ensuring consistency across records without any additional manual admin. For more on how Employment Hero is simplifying superannuation management, read about an easier way to update superannuation details here. Health and Wellness Platforms – Fitbit

As users track their daily physical activities, they’re prompted with how a healthy lifestyle can impact their potential medical expenses in retirement. It could also show how these medical expenses can correlate with their super savings or access to reduced premiums for adopting healthy behaviours.

Real Estate Platforms – Domain

As users browse potential homes or rental properties, they could see insights into how property ownership or rental agreements might influence their superannuation strategy over time.

Utility and Service Providers – AGL Energy

As users pay their monthly utility bills, they could be shown an analysis of how energy-saving practices might translate to super savings if the saved amount was contributed. It could also estimate future pension expenses and tracking to a comfortable retirement.

Banking and Financial Apps – Commonwealth Bank

When members review their monthly financial summary, a section could show their super balance growth and offer the ability to make instant additional contributions.

Example – Digital Employment and the decoupling of super

Superannuation has its roots deeply in the world of employment. In the early days, super was essentially born from a trade union movement, inherently linking the two. However, as the employment landscape sprinted towards digitisation, superannuation hasn’t kept pace with this transformation creating a huge engagement gap. For a deeper dive into the history of superannuation in Australia and its future, check out Ray Jaramis’s insights here.

Super Funds: Bridging the Gap with Digital Employment Platforms

Now, imagine aligning super funds with something as commonplace as digital employment platforms. It’s about introducing super to the daily digital spaces of users, essentially making super feel less like a separate entity and more like an intuitive extension.

Engaging members on their terms, on platforms they already use…

The Employment Hero Blueprint

Employment Hero is a full employment lifecycle digital platform – from hire to retire. To super, we should be seen not only as an HR platform, but a critical ecosystem with endless opportunities to engage members at the right time. To understand how this integration can benefit members, you can download our whitepaper on embedded super here. By partnering with these types of platforms, super funds can ensure members don’t just access, but actively engage with their superannuation details.

Engaging, Educating, Elevating

It’s not just about accessibility; it’s about active engagement. Platforms like Employment Hero offer real-time, contextual engagement opportunities to help members better understand when there are relevant services available to help them through their lives.

• Onboarding: Proactively finding current account information and simplifying the process to give new employers current details. 

• Change of job: Probably worth looking at your insurance if members are switching from manual work to office work. Or if there’s a pay rise registered, is it time to look at additional super contributions?

• Having a child: I wouldn’t tell my super fund if I was pregnant, why would I? – Actual quote. Well, super funds often have benefits like fee holidays or general advice services which can help reduce one of the biggest causes of gender inequality in super. The issue? Funds dont know when members are having children because there’s no trigger to connect the dots…

As we move forward in this digital age, it’s clear that blending super funds with modern tech is not just the way to go, but it’s expected. By connecting with platforms that members already use and trust, we can make super more approachable and relevant, for everyone.

So if you’re working at a super fund and looking at engagement, consider ecosystems – that is, what does the typical day in the life of a member look like?

The outcome…? A new world of engagement potential.

Embedded Super

Embedded super, a subset of embedded finance, holds the key to remarkable untapped potential.

It revolves around engaging members on their terms, on platforms they’re already using, in a way they understand. Or put simply, contextual engagement elevates superannuation from a background product to a prominent aspect of members’ lives. To explore the potential of embedded super further, you can learn more here.

About Employment Hero

Employment Hero manages the employment of more than 1 million employees, roughly 15% of Australia’s private sector workforce and is forecast to continue growing exponentially.

Our mission is to make employment easier and more valuable, for everyone.

Employment Hero offers a suite of digital super services to help employees engage with and manage their super selection, all while making employment simpler and more automated for business owners.

If you’d like to learn more about Employment Hero embedded super, reach out to Ray and the partnerships team at embeddedsuper@employmenthero.com. 

Alternately, you can learn more about embedded super here or download our whitepaper.

The information provided on this page has been prepared by Employment Hero Pty Ltd (ABN 11 160 047 709) and its related bodies corporate (Employment Hero). The content provided on this page is only general information about Employment Hero’s products and services, and is provided in good faith without taking into account your personal circumstances, financial situation or needs. Before acting on any information, you should consider whether it is appropriate for you and Employment Hero recommends that you seek independent financial, legal and taxation advice. Certain information given is based on data supplied by third parties. While such data is believed to be accurate, it has not been independently verified and no warranties are given that it is complete, accurate, up to date or fit for the purpose for which it is required. Employment Hero does not accept responsibility for any inaccuracy in such data and is not liable for any loss or damages arising either directly or indirectly as a result of reliance on, use of, or inability to use any information provided on this page.