Perks and Discounts - PerkSpot

The ABCs of Why Perks Matter

Courtney Shipshock February 6, 2019

Back in 2016, Glassdoor predicted that employee perks would be a huge job trend for the year. Well, they weren’t wrong. Three years later, perks are still one of the leading trends throughout the country in workplaces that are looking to offer their employees more than just run-of-the-mill benefits. We know that perks work. (In fact, we like to think of ourselves as perk experts.) But why do they matter?

Here are the ABCs of why perks matter:

Show your Appreciation.
Foster a sense of Belonging.
Create an atmosphere of Consideration.

A is for Appreciation

First, it’s no secret that employees appreciate being recognized for their work. But, for an employer, it can feel difficult to recognize each employee for their contribution in a way that feels meaningful and impactful. That’s where perks come in. Implementing perks as an added bonus for employees sends a message to each one that says, “I see you and I appreciate you.”. Just like you enjoy small acts of kindness from a friend or family member, it feels the same to experience small gestures from your workplace that show you are being thought of and cared for. If you want to go one step further, consider a rewards & recognition platform for your workplace!

B is for Belonging

Twenty years ago, most workplaces looked the same. Fast forward to 2019 and it’s all about making your company stand out for job-seekers and creating a strong sense of identity for your employees. Perks are a great way to make your culture meaningful. Perhaps it’s having a pet-friendly office space that makes every day “Bring Your (Fluffy) Friend To Work” Day. Maybe it’s offering a paid sabbatical for your employees to develop their professional skills. (Cough, cough, we’ve got both!). Whatever it is, perks like these help illustrate the values and culture of a workplace and create a sense of belonging for your employees.

C is for Consideration

One of the great things about perks is that one size does not fit all, and it doesn’t have to! Offering an option like an employee discount program (we can help you out here!) allows an employer to provide perks to each employee that they can then customize for their own personal preferences. A wide variety of perks, all under one umbrella, means your employees get to choose how and when they want to enjoy their them. Through meaningful discounts, you’re not just checking a box, but providing perks that matter to them.

These days, it’s not just about offering your employees perks that you think might momentarily spark their interest. Instead, we’re focusing on finding perks that actually mean something to them. In doing so, you’re demonstrating your gratitude to each employee, plus setting yourself apart from the rest!

What perks do you offer your employees to illustrate culture and show your appreciation?

4 Office Perks You Need This Fall

Katie Williamson September 12, 2018

The pumpkin spice lattes have come out to play, which means fall is right around the corner! As the leaves change and the days start getting shorter, it’s time to rethink our office life. Here are 4 office perks you need this fall.

Back to School Perks

As we enter back-to-school season, now is a great time to evaluate if student loan perks for your employees. A recent World at Work survey stated that only 4% of employers offer some form of student loan repayment. As times change, this a great way to incentivize employees to not only choose to work at your business, but to stay there for the long haul. The ROI is proven. Companies like Cigna found that every $1 put into the program saved $1.29 in talent management and recruiting costs.

Bus Perks

Warm weather means less time driving as employees pick alternative transport for their daily commute. But as the seasons change, we see fewer employees biking or walking to work, which means commuter perks couldn’t be more timely. By opting into this benefit, employees can save up to 40% on commuting costs in a year. Offering these benefits is a small, easy way to make life a little easier for your employees.

Baby Perks

Is it just us or are the office babies more prominent this time of year? We recently celebrated a baby shower for 3 of our employees (10% of our workforce) who are expecting in the upcoming months. Studies show it’s not just a PerkSpot thing. The most popular month for babies is in September, according to a TIME magazine report. If that’s true, then when could be better to burst out the baby perks? Extended maternity leave, paternity leave benefits, and in-office daycare are just a few ways to keep your workforce parents engaged.

Budget Perks

Consumer Reports says September and October are the best time to buy big-ticket items for your home, like mattresses and appliances. Lucky for your employees, they can save money on these items through their PerkSpot employee discount program and get the best bang for their buck. Since 78% of employees currently live paycheck to paycheck, this perk can go a long way for your employees.

As we enter fall, consider these options in making your office a better place to work. Want to get started with an employee discount program? Get in touch!

What Culture Is (and Isn’t)

Katie Williamson August 7, 2018

We throw the word around a lot but many of us don’t really spend time thinking about what company culture really means. You may think of unlimited vacation days, ping pong tables, outings with coworkers, or fun office events. These things may be a part of your culture, but is that all there is to it? What makes a company culture good or bad? How do we define what culture is (and isn’t)?

Culture Is… the Feeling Before Work in the Morning

We all get the Sunday Scaries so we’re not talking about a total escape from the actual work aspect of your job. But, the way you feel before work in the morning does speak a lot to your company culture. Do you dread seeing people when you get to the office? Are you overwhelmed with pressure from your boss? A great company culture knows how to motivate you to be your best and gives you work that challenges you in the right ways. It means waking up in the morning with an excitement for what lies ahead and anticipation for your future at the company.

Culture Isn’t… All Play and No Work

Sure, ping pong tables and beer on tap are great and can be a piece of your culture, but they aren’t the true meat behind what makes a company a great place to work. Perhaps you notice that more people seem to be extending their lunches but the number of new projects is slowly dwindling. If that’s the case, you might be in danger of having a sinking culture. What started off as an opportunity to motivate employees has become a distraction and there may be something deeper going on beyond the surface. Maybe these perks are nothing more than workplace traps.

Culture Is… Freedom to Express Ideas and Concerns

True company culture values transparency and honesty in the workplace. You should have open forums to discuss ideas and opportunities to ensure employees are heard. Great company cultures don’t pretend like everything is going well when it isn’t. Great cultures embrace the challenges and find ways to create solutions. They know how to include employees in solving problems and moving the business forward.

Culture Isn’t… Meaningless Perks

There are some crazy perks out there. From breast milk shipping to helicopter rides, not all perks are created equal. That’s why it’s important to provide benefits and perks that will apply to every employee. Culture doesn’t mean adding to your long list of (unused and unwanted) company perks. Provide perks that matter to everyone. Because 48% of employees are worried about their current financial state, providing an employee discount program that puts cash back in your employees’ pockets is a great way to add perks that make an impact for any employee.

Culture Is… Saying Thank You

One of the best ways to create a great company culture is by saying two little words: thank you. In fact, 80% of employees said they are more motivated to stay at a job longer and work harder when they receive appreciation for their work. Cultures with built-in recognition programs know how to reward employees the right way.

How would you define culture and what makes your company culture great?

Unconventional Office Perks

Katie Williamson July 11, 2018

Is your office “perky”? In 2018, it can be hard to stay competitive when it comes to perks. Beer on tap, pet-friendly offices, and travel stipends are among some of the great perks companies are offering these days. Here’s a look at some of the most unconventional office perks we’re seeing in 2018:

Free Ice Cream!

Need we really say more? Ben & Jerry’s employees can take home up to 3 pints of ice cream PER DAY. This sugar rush might be the best way to beat the afternoon slump.

Egg Freezing

You read that correctly. Spotify gives its employees $10,000 worth of egg freezing. Considering the U.S. still doesn’t even have a mandate for providing paid maternity leave, this is pretty amazing.

Bereavement Benefits

Not a benefit we love to think about, but powerful nonetheless. Google gives the surviving spouse or partner of a deceased employee 50 percent of his or her salary for the following 10 years after his or her death.

Gender Reassignment Surgery

Perhaps the most shocking part of this perk is the company that provides it: Goldman Sachs. You may think that this financial mogul wouldn’t be this progressive, but they’re proving us wrong.

Co-Presidents

At the Nerdery, they take job equality very seriously. They award each employee with a secondary job title as “Co-President”. This perk is to show that every employee’s opinion matters; in a way, everyone is co-president.

What are some unusual perks you’ve seen or offer to your employees? Looking for a new addition to your perks program? Consider offering an employee discount program. We know a great place to start.

How to Improve Employee Financial Wellness

Katie Williamson May 15, 2018

Money is a powerful thing, and unfortunately, can be a leading cause of stress for many Americans. Willis Towers Watson released an infographic last year detailing the financial state of employees and the statistics might shock you. Here are a few of the highlights.

48% of employees are worried about their current financial state, while 54% worry about the future of their finances.
51% of employees experienced a significant financial event in the last year.
29% of employees borrowed money from family or friends.

While you may think that employees with well-paying jobs and stable careers don’t worry about their financial status, the statistics couldn’t be further from the truth. Which begs the question.. Where do we, as employers, fit into this puzzle? How can we alleviate financial stress for our employees beyond compensation?

Educate Employees

“70% of employers think they should take an active role in encouraging their employees to manage their personal finances better.”

Unfortunately, there is a major gap in educating students on how to manage their finances. Even the most prestigious schools often neglect to discuss money management in the classroom. Which means, although Americans may be wealthy, they are uneducated when it comes to finances.

As the saying goes, better late than never, for employees living paycheck to paycheck. As employers, we can step in and help meet this need. Offer programs that provide opportunities to learn how to manage their personal finances, invest wisely, and plan for their future. If your company isn’t already doing this, start now. However small, you can help alleviate the financial burden for your employees. If your company uses PerkSpot, employees can sign up for our weekly newsletter “theLOOP” where, in addition to health and wellness and career advice, they’ll also find tips for financial wellness.

Alleviate Anxieties

“Over a third of employees believe their financial problems are negatively impacting their lives.”

Help alleviate the stress that many employees are facing day to day by easing the burden of their everyday expenses. This is where PerkSpot finds its purpose in serving some of America’s top employers. By providing discounts on everything from monthly cell phone bills to mortgages to cars to electronics, we help employees save on the things that matter. Therefore, they can spend less time stressing and more time focusing on the job at hand.

Survey Satisfaction

“Only 35% of employees would say they are satisfied with their current financial situation.”

Do you know how your employees would view their current financial state? sensitivity and privacy are essential when it comes to your employee’s finances. However, you can ask general questions and take anonymous surveys to gauge their interest in financial assistance programs and education. You may be surprised at what you’ll find.

Financial wellness is not an easy topic and as employers, it would be easy to ignore and not claim responsibility. However, the impact we make on our employee’s happiness is crucial not only to their job satisfaction but on productivity, retention, and ROI. By educating employees, alleviating their stress and understanding their needs, you’ll be on your way to a better workforce. Need help getting started? Reach out to us!

Summer Wellness Tips for Every Office

Katie Williamson May 10, 2018

It’s finally summer here in Chicago and we are so excited to see employees biking into work, enjoying lunches on the roof, and signing up for 5ks together.

Summer can be a great time to revamp your Health and Wellness initiatives at your workplace and we’ve got a few ideas to get you started.

Promote Healthy Eating

One of the great things about this season is that you don’t mind getting outside the office to grab something fresh and healthy. A small, but effective and practical way to help your employees stay healthy is to provide a list of healthy meal options close to your office. You can even create your own map on google maps and share it with the office.

Provide Meaningful Discounts

Gym memberships and healthy food options are often expensive. Lighten the load for your employees by offering these great initiatives at a discount. Enter PerkSpot. We’ve already done the negotiating so all you have to do is contact us to get started!

Coordinate Running (or Walking) Clubs

We have several people in our office who love hitting the pavement, especially in the summer. While others may need some extra incentive, walking or running clubs can be a great way to get everyone moving. Pick a day after work and promote the club around your office. You can even finish your run with a fun get-together after.

Hold a Healthy Potluck

Potlucks are a fun way to get everyone to mingle around the office and show off those cooking skills! Hold a potluck where everyone makes their favorite healthy recipe and brings it in to share. Employees will break out of the routine and maybe learn some new recipes while they’re at it.

What are your tips for keeping your office healthy? Share them with us in the comments!

Why Employee Discount Programs Work (From Employees Themselves)

Katie Williamson April 25, 2018

Thinking about offering an employee discount program but not sure if it’s worth it? In the world of endless perks, it’s overwhelming trying to pick and choose which offerings to make available to your employees.

From perks for pets to sabbaticals to remote work, it can be hard to keep up! Plus, what are the real benefits to offering all these perks anyway? Some of them leave people out, while others are costly and difficult to maintain for human resources.

That’s why we wanted to take some time to focus on why employee discount programs work! But we know we might be a little biased, which is why we’re focusing on feedback from employees themselves who use PerkSpot and vouch for the benefits of discount programs.

We work with over 600+ employers all over the nation (Walgreens, Southwest, United and Chipotle to name a few) and are constantly hearing about how employees are using PerkSpot to improve their lives. It’s such good news we didn’t want to keep it to ourselves!

Here are a few of our favorite quotes and what they mean for the workplace:

It’s Money in Their Pockets

“Date nights are forever changed and day-cations are much more common now! The savings and discounts make everything so much more affordable, the idea of going out doesn’t seem so bad on the wallet. Love the perks so much!” – DSW Employee

According to a survey by CareerBuilder, 78% of U.S. employees live paycheck-to-paycheck, even those making $100,000 or more. There is only so much you can provide in terms of compensation for your employees. While you may not be able to give everyone a raise, you can help their money go a little farther. The most compelling reason employee discount programs work is because they help employees stretch their paycheck. No matter how great your office is, it is hard for employees to stay positive when they struggle to make ends meet. Provide ways for employees to save on the big things (like cars and insurance) and the small things (flowers for mom)! These savings will help their money go just a little bit further every month. Plus, they’ll have a new affection for their employer. Put money in their pocket and smiles on their faces!

It’s Meaningful

“I had no idea that I can save money on family vacations because money is tight. Also, there are so many other categories like health, electronics, and household goods I can save on. Who doesn’t want to save money?” – Walgreens Employee

Pet perks aren’t meaningful if you don’t own a pet. Snacks in the breakroom aren’t useful if you are on a restrictive diet or have an allergy. One thing that’s great about an employee discount program is that it’s great for everyone! From discounts on electronics to travel to apparel, every employee can take advantage of this perk! When it comes to providing meaningful and personal perks, this is a great place to start!

“It has made every family memory possible. I really value family time and great rates make it possible for our family of four to stay close.” – Chipotle Employee

It’s Motivating

“It’s helped me work harder, knowing I work for a company that appreciates their employees enough to have a discount program. Kind of awesome!!” – Columbia Bank Employee

When it comes to wellness, we are quick to think about diet and exercise but spend little time focusing on finances. A 2017 PWC survey on Employee Financial Wellness shed some light on the current state of employee financial health. The survey stated one in three employees say issues with personal finances have been a distraction at work. Another 46% say they spend three hours or more each week thinking about these issues. Imagine the amount of time and energy employees are spending worrying about everyday expenses. While there are many ways to motivate employees, a discount program is one of the best! Employees who are stressed about paying their bills can hardly focus on the job at hand. Employers who alleviate this stress can help motivate their employees and improve their view of their workplace.

From stretching their paycheck, providing meaningful perks, and alleviating financial stress for employees, discount programs just work! If you haven’t thought about providing a simple, easy program like PerkSpot, we hope these points will push you to take the leap. Contact us to get started!