Benefits App
Problem
Employee retention is at all time lows.
Solution
Allow employees to freely choose how they want to utilize their benefits using a Benefits dApp.
Total to date
This is the total amount allocated to Benefits App.
About this idea
A benefits application where organizations (e.g. companies) can contribute funds regularly (always on the first day of a month) to the benefits accounts of individuals (e.g. employees).
Individuals should have detailed and aggregate insights into their benefits. Funds in a benefit account can be spent with suitable service providers.
Impact
Businesses like Twic partner with companies like zoom, square, twitch, stripe, and datadog to give their employees the freedom to choose health, wellness and other benefit options. This is not just a phenomenon in the US, but the "great resignation" that happens across the globe made it necessary for businesses to incentivize "loyalty" in creative ways. Turns out freedom to choose benefits is a big factor. Want to try out that Yoga class this month, but hit the gym for some H.I.T. with a personal trainer in the next? These businesses make it happen. None of them use blockchain though, yet.
At Loxe Inc., we are aiming to be an employer of choice. Giving our valued team members options to what degree they want to be covered in terms of health care is one step, but giving them interesting options to pick how to unwind and recharge after a day of work is important.
Feasibility
See https://gist.github.com/manonthemat/9017c96261915b696a36f69e6d62930b for an implementation overview complete with the data schema.
As we have expertise in recommendation systems, we utilize Neo4j as our graph database of choice to drive personalized recommendations for benefits to try.
Team: https://winwin-team.web.app/
Timeline
March 2022: Complete UX and Backend Development
April / May 2022: Frontend Development and testnet launch
June 2022: Launch on mainnet
Budget
120h UX design at $100/hr = $12,000
960h Frontend Development at $50/hr = $48,000
480h Backend Development at $65/hr = $31,200
480h Project Management at $50/hr = $24,000
Hosting $0 through Cloud Credits: https://cardano.ideascale.com/a/dtd/cloud-credits/384843-48088
Total: $115,200
Success
After 3 months: Benefits dApp launched on testnet
After 6 months: Launched on mainnet with 2 entertainment benefits provider and first companies as users
After 12 months: Added 10 benefits providers (entertainment, health, commute etc.)
KPIs
- Number of companies providing benefits accounts for employees
- Number of employees using benefits accounts
- Number of providers
Team
Loxe Inc. team, experienced and hackathon winning group of Plutus and web developers, Gimbalabs PPBL members.
