As companies strive to attract and retain top talent, offering employee benefits has become an increasingly important part of the employment package. One popular benefit that has gained traction over the years is the employee discount program. These programs provide employees with discounted prices on a wide range of products and services, from groceries and travel to entertainment and electronics. In this blog, we will explore the benefits of employee discount programs and how they can positively impact employees.
What Are The Employee Discount Programs?
Employee discount programs, also known as employee perks programs, are benefits offered by employers that provide employees with discounted prices on various goods and services. These programs can cover a wide range of products and services, such as groceries, travel, entertainment, electronics, gym memberships, and more.
The discounts offered can vary depending on the program and the product/service in question but typically range from 10-50% off the regular price. Some companies even partner with specific brands or retailers to offer exclusive discounts to their employees.
What Is The Objective For Employee Discount?
Employee discount programs have several objectives, some of which are:
- Improved Employee Morale: Employee discount programs can help employees save money on everyday expenses, which can help them feel appreciated and valued by their employer. This can lead to increased job satisfaction, motivation, and loyalty.
- Attract and Retain Top Talent: Offering a comprehensive employee benefits package, including an employee discount program, can help employers attract and retain top talent. It can also serve as a competitive advantage in a tight labor market.
- Increase Employee Engagement: When employees are offered discounts on products and services they use regularly, it can help increase their engagement and overall productivity at work.
- Financial Benefits for Employees: This can help employees save money on things they need to purchase regularly, such as groceries, travel, and entertainment. This can help employees achieve better financial stability and reduce financial stress.
- Cost-Effective Benefit: Employee discount programs can be a cost-effective way for employers to provide an additional benefit to their employees, as the cost of the program is often shared with vendors and third-party providers.
- Enhanced Company Culture: Employee discount programs can help foster a sense of community and teamwork among employees. By offering discounts on popular products and services, employers can create a shared experience and sense of camaraderie among employees.
Overall, employee discount programs can be an excellent way for employers to show their appreciation for their employees and help them achieve a better work-life balance. At the same time, it can help employers achieve their business objectives by improving employee satisfaction, engagement, and retention.
What Are The Top Employee Discount Programs?
There are many employee discount programs available today, but some of the top programs include:
Mantra Care partners with hundreds of companies to offer their employees discounts on a wide range of products and services. Employees can access discounts through a customized website, which makes it easy to find and redeem discounts. Some of the types of discounts available through Mantra Care include mental wellness programs such as therapy and Yoga or a healthy diet plan and many more.
TicketsAtWork is a discount program provider that specializes in offering employees discounts on theme parks, movie theaters, and other entertainment venues. They partner with major brands like Disney, Universal Studios, and Six Flags to offer exclusive discounts to employees. In addition to entertainment discounts, they also offer discounts on hotels, rental cars, and other travel-related expenses.
Abenity is a discount program provider that offers employees discounts on everything from groceries and dining to travel and car rentals. They also provide wellness resources and other employee benefits, such as online learning courses and financial planning resources. Abenity partners with local and national brands to offer discounts that are relevant to employees’ lives.
Corporate Perks partners with leading brands to offer discounts on a variety of products and services, including electronics, clothing, travel, and more. They offer a mobile app to make it easy for employees to access their discounts on the go. Corporate Perks also provides employee recognition and reward programs to help employers show their appreciation for their employees.
LifeMart is an employee discount program offered by ADP, a leading payroll and HR solutions provider. It provides discounts on a wide range of products and services, including electronics, clothing, travel, and more. In addition to discounts, LifeMart also offers a variety of employee resources, such as wellness programs, financial planning tools, and educational resources.
Overall, the best employee discount program for a company will depend on their specific needs and the preferences of their employees. It is essential to evaluate different programs and choose the one that offers the most value for both the company and its employees.
In conclusion, employee discount programs are a valuable benefit that companies can offer their employees to help attract and retain top talent. There are many different employee discount program providers available, each offering a unique set of discounts and benefits. In addition to employee discount programs, there are many other types of employee programs and services that companies can offer to improve employee morale, health, and overall satisfaction. By evaluating different programs and services and choosing the ones that offer the most value, companies can create a workplace culture that supports and values its employees.
Employee wellness programs are the key to improving employee motivation, productivity, and retention. At MantraCare, we have a team of health experts, counselors, and coaches who serve corporate employees with 10+ wellbeing programs including EAP, Employee Diabetes Reversal, Corporate MSK, Employee Fitness, Corporate Yoga, and Employee meditation.