Crown Commercial Service
Support financial wellbeing with an employee discount scheme
Employee wellbeing continues to be a top priority for employers. Research conducted by Edenred, found 57% of employers think poor wellbeing is the biggest threat to performance.
So far, employers have done a fantastic job supporting staff during the pandemic, with 81% of employees responding to the Edenred research saying they’ve done a good job. Employers must now ensure they don’t take their foot off the gas as signs of fatigue start to show. This is a threat that may continue to be felt well into 2022 as we learn to live with the virus.
One clear message to emerge from research is that while employees are impressed by the dedication managers are showing to their wellbeing, support tends to focus on physical and mental aspects of wellbeing, less so on financial wellbeing. In fact, 21% of employees say support for their financial wellbeing falls short of their expectations.
Countless studies show the detrimental impact financial worries have on mental health. This means that any wellbeing strategy must include a specific focus on helping staff to manage finances and debt.
Support your employees’ wellbeing
As the costs of everyday household items, as well as bigger ticket items, continues to rise, you can support employee wellbeing by giving your staff access to shopping discounts at big-brand online and high street retailers through our Employee Benefits framework. It offers hundreds of ways to save on spending, whether it’s on the daily essentials, the latest tech or making travel plans.
And with Black Friday around the corner, now is the perfect time to give your employees access to these benefits.
With a handy mobile app, as well as an online platform, your employees will be able to quickly and easily make substantial savings anytime, and anywhere.
Lots of ways to save
Employees will be able to enjoy a ‘discount on a discount’ when they make a purchase. For example, when a retailer runs a promotion for an event like Black Friday, Cyber Monday or Christmas, employees enjoy the discount advertised by the retailer and an additional reduction through the discount scheme.
You can also offer employees a tech salary sacrifice scheme. This means staff can buy new technology, mobile phones, gaming devices or household appliances and spread the cost over the year ahead with small deductions taken from their monthly pay packet.
Already using the discount scheme?
Don’t forget to remind employees to use it and of the savings they can make. Edenred can provide a free-of-charge communications programme to help increase engagement all year round. If your employees use the scheme, you’ll get the strategic benefits of talent retention and being seen as an employer of choice.
Find out more
All these financial benefits from Edenred are available through our Employee Benefits framework.
You can also find a full list of all the commercial agreements we offer, alongside details of how we can help you build policy considerations into your procurement, in our interactive digital brochure.
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