What if a HR benefit could increase employees' loyalty and their financial well-being?
// Behavioral Research, Product Design
A leading online HR services provider wanted to design a new product that would both enhance its value proposition for small business customers and increase the financial well-being of its customers' employees.
Project: A new product for an online HR services provider
Collaborators: Claire Lefevre, Julia Lindpaintner
Context: This work was developed under Common Cents Lab, a behavioral insights lab led by Dan Ariely that helps low and middle-income households increase their financial well-being
Secondary research and competitive analysis
3 randomized controlled trials with 670+ participants across the US
40 intercept interviews
Quantitative survey with 250 current users
6 in-depth user interviews
Behavioral diagnosis of existing product flow
Wireframing and behaviorally-informed concept design
Results on general attitudes toward benefits indicate that benefits are the second most important factor in evaluating a job offer (after salary)
After shortlisting three potential new products: an employer-employee lending program, a 529 college savings plan, and an emergency savings fund - we realized that a hybrid approach was necessary, and developed a new combined lending and savings product