Case Study: Guild achieves 92.5% utilization and saves $145k annually with Forma flexible lifestyle benefits

Guild achieves 92.5% utilization and saves $145k annually with Forma

Guild, a company that provides a career opportunity platform, faced a challenge in administering flexible benefits for its rapidly growing workforce. Their previous system of multiple stipends was administratively burdensome, costing $145,000 annually in fees and internal time, and provided little insight into how employees were utilizing the funds. To address this, Guild partnered with Forma to implement a more streamlined and insightful solution using Forma's Lifestyle Spending Accounts (LSAs).

Forma's solution consolidated Guild's various stipends into three targeted LSAs for well-being, working from home, and family planning. This provided employees with greater flexibility and choice while simplifying administration. The results were highly successful, achieving a 92.5% monthly utilization rate and saving Guild the full $145,000 in annual administrative costs. The program also became a key tool for employee attraction and retention.

Guild