Why are employee benefits and giving employees a sense of appreciate even more important post pandemic?
We know how tough the past 19 months have been on employees, well everyone globally. In addition to the struggle of looking after your own health and that of your loved ones, the financial strain for many has been and is immense. Whether this is through being furloughed, taking a pay cut or even losing a job, this time really has thrown it all at us.
As things move forward and the return to the offices continues, we have noticed many of the great business leaders thinking how they can ensure that they retain the talent in their organisation and are attractive as an employer of choice. Rewarding your employees in a way that helps their salary go further really does make them feel special and valued. It gives employees a sense of appreciation and desire to stay (enhancing the team ethic and culture). A study found that 66% of employees said they’d leave their job if they felt undervalued and unappreciated.
So what can an employee benefits offering through a money saving app deliver?
We are seeing an increased interest in providing loyalty schemes which are bespoke to each organisation for staff members to have the benefits of discounts at local retail outlets where they spend their money. This may be where they buy their morning coffees, lunch, get their beauty treatments done or somewhere they like to put their hair down in the evening.
Like I previously mentioned, employee benefits delivered through a money saving app can help salaries go further but also benefits the company, as it decreases the pressure of immediate pay rises (even though we’re sure this won’t eliminate the desire).
At My VIP Rewards, bespoke benefits is exactly what we specialise in. We try and get the businesses your employees use, love and enjoy on board to make sure they get the most out of what we offer. As well as them having access to the 5000+ retailers already available on our website and app.
These employee benefits don’t have to cost the world, it truly is the ‘thought that counts’ and My VIP Reward users on average save between £500-£1000 a year.
If you are a business leader and would like to discuss My VIP Rewards further and how we can help your employees feel valued, we’d love to talk.