As a company, among the things that you focus on is employee retention.
You’ll want to keep your best employees and encourage more talents to apply. The benefits you’re giving your team members can spell the difference between them staying or leaving. It’s easy to pirate employees if another company offers better benefits.
So how can you compete even as a small business? By setting up a quality discount for employees program. Here are the reasons why this matters a lot.
1. It’s practical.
While offering insurance and health benefits to your employees sounds promising, other companies are most likely offering them too. And the thing is that your employees won’t benefit from them until the need arises.
For your company to stand out, you need to think of employee benefits that your employees will be able to make full use of. Discounts can be used by your staff for all kinds of purchases - groceries, electronics, dining out, and whatnot.
This way, you’re also helping them to save money each time they shop. Who won’t appreciate that?
2. It helps ensure employee well-being.
You need to look after your employees because they take care of your customers. If there’s anything you can do to make life easier for them outside the work that will mean a lot to them.
If you can help them save their money with your employee benefits program, you’re also helping to improve their quality of life. They can purchase more without having to spend more.
And you can help them experience services they wouldn't take otherwise, simply because they couldn’t afford them. Your corporate perks are making a positive impact on the lives of your employees.
3. It makes hiring a lot easier.
Applicants are looking for reasons, other than salary, to apply to a company. If your business offers competitive employee benefits, you can compete with bigger businesses.
It won’t be as hard to sell your business to talents. They get access to countless discount offers by being a member of your team. Even if you can’t afford to raise salaries, you still get a good chance of attracting applicants.
Chances are your employees will also help promote your business to their peers. Employee discounts are affordable and you’re sure to get back your investment.
4. It boosts employee morale.
If you make your employees feel good about themselves, you’re making a good job as an employer.
With discounts they can use anywhere, you’re helping your employees stretch their hard-earned money. With the money they save, they may be able to spend on little luxuries or leisure.
They can take treat their family to a lovely dinner or perhaps a little staycation. They can buy their little ones new toys or any gift the latter are wishing for.
Employee discounts do matter
If you can retain your employees and lower the turnover rate, you’re also helping your company to save resources. Hiring and training recruits can also be costly. If you can improve your employee benefits package, it’s a win-win for both you and your employees. You make both your lives a lot easier.
If you’re still on the fence about whether employee discounts matter, ask yourself if you ever hated discounts.