SAN FRANCISCO, May 18, 2022 (GLOBE NEWSWIRE) -- Forma, the life benefits platform, today announced that it was named a winner of a 2022 HR Tech Award for Best Innovative or Emerging Tech Solution in the Total Rewards and Employee Wellbeing category. Presented by Lighthouse Research & Advisory, the HR Tech Awards honor vendors based on five key areas: the problem(s) the technology solves in the market, case studies, differentiation analysis, software evaluation, and company evaluation.
The HR Tech awards recognizes best-in-class tools being used by employers to help them hire, develop, and retain talent, including platforms and systems with the ability to support intelligent decisions and personalized actions. This year's HR Tech Awards recognize approximately 1% of the more than 5,000 providers that exist across HR technology, honoring them for their focus on creating solutions that solve problems their customers care about.
Forma is the life benefits platform that makes it easy to design and scale flexible benefits programs, whether your workforce is onsite, remote, or global. The platform streamlines human resources information system (HRIS) integration, payroll reporting, tax compliance, and financial operations while securing data and protecting privacy. Defined contributions and spending guidelines are configured to make activation and access to pre-funded subsidies in benefits spending accounts fast and easy. Employees can discover and shop in Forma's curated marketplace, use their benefits spending account on the go, or simply file a claim — all in one fast and easy-to-use platform available on web and mobile devices. This means avoiding complex single-solution procurement, administration, and fulfillment, instead giving employees the tools to discover, select, and engage with flexible benefits programs.
"Our platform puts the best interests of both employees and employers at the forefront -- it meets employees where they are and gives them unmatched choice and flexibility, while employers can quickly make adjustments to adapt to both employee and business needs," said Jason Fan, Forma's co-founder and chief executive officer. "This award is a huge honor and validates our team's hard work in easing the pain points associated with a traditional top-down approach to employer-sponsored benefits, and it motivates us to continue innovating at a high level."
"In some new research, we found that employees value flexibility in a wide variety of ways. In fact, having choices about benefits ranked higher than remote work for many workers,” said Ben Eubanks, chief research officer at Lighthouse Research & Advisory. “To that end, Forma has developed a solid solution that helps put that flexibility into the hands of the workforce, giving them access to life benefits that maximize their wellbeing while reducing overhead and administration headaches for employers."
The future of work has changed significantly in part due to the pandemic. Employees now demand new benefits from their employer that best match their work and personal life. Forma is one of the first companies to focus on flexibility in the employee benefits industry. The company and its platform aim to create benefits for the modern workforce and give every employee the ability to integrate work and life seamlessly. To achieve that, Forma created a new way to deliver benefits that gives employees the freedom to choose those that are right for them on a global scale, supporting employees in more than 60 countries worldwide. The platform enables teams to track, optimize, and deploy changes in benefits strategy in days rather than months and years. As such, business can be nimble and adapt quickly to the modern world instead of staying locked in yearly cycles.
This year's HR Tech Awards ceremony will be broadcast live on Wednesday, May 18 at 12 p.m. ET/9 a.m. PT in a special edition of Lighthouse Research & Advisory's "HR Tech Talks" live stream show. You may view or RSVP for the event here.
For more information on Forma and its flexible benefits platform, visit www.joinforma.com.
About Forma
Forma (formerly Twic) is a life benefits platform that enables modern companies to design and scale flexible, global benefits programs with options that fit employees’ lives, from health and wellbeing to lifestyle – and beyond. Founded in 2017 by Jason Fan, chief executive officer, and Max Hsieh, chief technology officer, the company works with hundreds of industry-leading customers, including Zoom, Twitch, Stripe, Allbirds, Splunk, Palo Alto Networks, Dropbox, Lululemon and Block, to revolutionize their HR programs. With support from investors like Ribbit Capital, Emergence Capital, Stripe, Upside Partnership, Designer Fund, and AngelPad, Forma is building the future of flexible benefits. For more information, visit joinforma.com.
Media contact:
Sammy Totah
BOCA Communications for Forma
forma@bocacommunications.com
