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!
