Jeannene Michel, VP of People Operations and Total Rewards, oversees health and wellness, comp, equity, and the overall processes that keep Matterport’s HR functions running smoothly. She works closely with Erin Ogunsanya, Wellness and Benefits Manager, to build a people experience that fully supports employees while also remaining cost-efficient.

“We want our employees and their families to feel taken care of and have access to products and services that will help them navigate all of life’s health and wellbeing challenges” said Jeannene. “We offer above-market benefits, but we’re also careful to ensure that we’re maximizing our spend by getting the most out of our carriers, wellbeing offerings, leave policies, and more.”

Holistic Wellbeing with Bundled Value

Matterport is smart to prioritize cost-efficient people programs – a large portion of the company’s spend is on its people, and that includes more than salary and health insurance. One of the areas that can be particularly challenging for leaders to conquer is employee wellness, where there are countless vendors, complicated implementations, and often tight budget constraints. Thankfully, Matterport was able to leverage Sequoia’s Wellbeing Bundles to meet the needs of all employees under a single, cost-effective solution.

Options in Matterport’s bundle include Galileo, Gympass, Headspace, Headspace Care, One Medical, Origin, and Rightway. With this holistic wellbeing approach, Jeannene and Erin are curating an employee wellness program that encompasses physical, emotional, family, and financial wellbeing.

“Sequoia’s wellbeing bundles have been a game changer for us,” said Erin. “We’re able to offer our community a wide variety of benefits that are important to them and will support them in times of need.”

Erin added that she keeps a close eye on the bundle utilization in the Sequoia People Platform. Using aggregated data, she can see what’s being valued and used more or less compared to other offerings, and can make adjustments as needed. For example, she’s happy to see that 40% of members are actively using their Gympass offering month-to-month, and employees have provided a 100% experience satisfaction for One Medical.

Having a partner with this level of data and expertise, particularly in the tech space, is invaluable.

Maintaining Above Market Benefits, Globally

With entities in the US, Japan, Singapore, and the UK, Matterport works hard to ensure that all employees are receiving high quality benefits, regardless of where they work. Prior to bringing in Sequoia, Jeannene and Erin were struggling to stay on top of all local brokers and regulations, leading to costly renewals and fees. Now however, Sequoia’s strategic global advisors help manage operations in the various countries.

“Sequoia was able to identify the offerings that were unnecessary or unused, saving us both time and money,” explained Jeannene. “To share just a few examples, Sequoia introduced us to a new broker in the UK, updated our contract in Singapore, and even helped us craft the perfect offer for a leadership role in APAC.”

“Our employees have loved all the changes we’ve made to our global offerings, both in improved service and advocacy,” Erin added. “And personally, I love knowing Sequoia is saving us a ton of money globally, connecting us with trusted partners, and giving me back more time to focus on strategic projects.”

Navigating Obstacles Ahead

One of Matterport’s key goals this year is to increase profitability, which involves a lot of careful collaboration, budgeting, and making smart decisions using high-quality data. To help in this process, Jeannene and Erin use the data available to them through Sequoia to benchmark, track utilization, and optimize their investment in employees.

“My job would be 100 times harder without the data Sequoia gives us,” said Erin. “It’s critical that we can show our leaders how the investment we’re making in our people programs is impacting our business outcomes.”

Having worked with Sequoia at a previous employer, Jeannene is well-versed in how she can leverage Sequoia to maximize her own efficiency.

“Sequoia helps me navigate through the complicated landscape and deliver a great people experience time and time again,” explained Jeannene. “Having a partner with this level of data and expertise, particularly in the tech space, is invaluable.”