Who doesn’t love a discount? Employee discount schemes are hugely popular with employees and it’s easy to see why.
For employers, offering employee discounts to employees is incredibly easy and very cost-effective.
If you’re looking to boost your benefits ROI, improve employee benefits engagement and boost retention, look no further.
Save staff money and improve financial wellbeing
The right employee discounts scheme can save employees money on just about anything, depending how broad the range of discounts are.
The employee instant discounts scheme on our Salary Extras employee benefits platform gives staff discounts on just about everything from food delivery to a brand-new kitchen, from the weekly shop to holidays.
Over the course of a year these savings really add up, particularly when it comes to things like the family food shop and holidays.
This all comes with the obvious benefits of making your employees’ paycheques go further and helping reduce their outgoings, giving staff greater control over their financial wellbeing.
Differentiate from other employers with better discounts
A competitive and broad range of employee discounts can help set your business apart from competing employers.
A key trend we’ve seen recently in reward and benefits is that employees want and expect a broader range of benefits options than pre-pandemic.
This is, in part, due to the ever-broadening range of situations different employees find themselves in because of the pandemic.
For example, many parents require more support and flexibility while some employees find themselves in varying financial situations.
The personalisation of employee benefits is becoming more and more important and to compete, benefits offered by businesses must be applicable to all employees and the different situations they find themselves in.
Therefore, when it comes to employee discounts., a broad and competitive range of savings can help provide a scheme that is applicable to as many of your staff as possible, providing a valuable benefit that can not only support recruitment but retention too.
Improve the employer-employee relationship
When your employee benefits make a positive difference to the lives of your employees, it helps improve the relationship your employees have with your business.
Take the Bike Scheme as an example. When an employee takes out a brand-new bike on the scheme and saves up to 42%, the moment they receive their bike, there’s a positive association with your business and the employee benefit they’ve taken advantage of.
The benefit scheme in question has made a genuinely positive difference to the life of your employee and thus strengthens their relationship with their employer.
For the employee discount scheme, the effect of this is even stronger.
The employee can use their discounts as regularly as they like. Each time they save money through the scheme, it reinforces their relationship with the benefit and therefore their employer.
The more they use the scheme, the more they save and the more it benefits them!
Drive the use of other schemes through your benefits platform
Regular use of the employee discounts scheme means regular use of your employee benefits platform.
Better engagement with your employee benefits platform can help drive engagement with your other benefits too.
The more your employees become familiar with your platform, alongside good communications, the more likely they are to interact with them, read about them and ultimately use them should they be applicable.
Other key benefits of the scheme for the employer
The employee discount scheme has a number of key benefits for employers. Employers who use our employee instant discount scheme get the following benefits:
- The Salary Extras app designed for quick and easy access to employee discounts
- Discounts can be used alongside sale prices
- The scheme is quick and easy to set up
- It’s cost-effective, with different levels of discounts available to suit your budget
- There’s no administration
- We have a customer service team available to answer any queries.
Employers and employees get all the other benefits mentioned in this article too.
A cost-effective string to your employee benefits bow
As we’ve said, diversifying your benefits provision has never been more important. The employee discounts scheme is one that’s guaranteed to be a hit with all your employees.
It’s cost-effective too, so it should slot right into your employee benefits budget.
Whatever your plans are for your employee benefits provision moving forward, the employee discounts scheme has the potential to be a key benefit for you and your staff.