This is an Encore Episode of #WorkTrends
Sponsored by Abenity
Employee perks are as American as baseball and apple pie. Who wouldn’t want them? Yet, in today’s uncertain economy, employers might be hesitant to invest in these extra benefits. But perks and discounts are more than just a nice touch; they’re a savvy talent acquisition and retention strategy.
Here are several impressive statistics that back this up:
- When companies prioritized employee engagement, 31% saw increased productivity, while 80% saw reduced turnover, according to Brandon Hall Research.
You might be thinking that only big corporations can afford to offer top-notch employee perks. Or maybe you’re on a budget and think a comprehensive program is out of reach. But think again. Tune in to this podcast conversation and you’ll be pleasantly surprised…
Meet Our Guest: Ben McIntyre
I’m excited to introduce you to Ben McIntyre, Client Success Manager at Abenity — an innovative employee perks and discounts company. Ben and his team help organizations of all sizes provide employees with meaningful savings that help stretch their earnings further. This means employees can afford more necessities and nice-to-haves, as well.
As a big fan of creative perks and benefits, I want to know more. So let’s dig in!
Why Employee Perks Matter
Welcome, Ben. Why are perks and benefits so important now, for employees and employers alike?
As prices continue to rise and employers look to the year ahead, they’re concerned that pay raises won’t be enough to help employees overcome inflation.
But perks can make a difference. They provide added purchasing power, both for things employees need to do, and for things they want to do more.
This crosses into financial wellbeing. But perks tie into other benefit areas as well. Physical wellbeing is an example. Some employers have had to cut back on subsidies for gym memberships and related benefits. But we have an entire health and wellness category that can touch physical and mental wellness.
An Innovative Approach to Perks
You have such a cool platform. I’d love to hear why your founders, Brian and Tim Roland, started this 15 years ago…
At the time, Brian worked for a cell phone service provider, offering employee discounts to large companies. And of course, he wasn’t the only one sharing exciting perks with these employers. But although HR teams appreciated it, they found it a burden to maintain accurate information and communicate with employees about all these perks.
So Brian and his brother built a platform where employers could centralize all their perks and discount offers in one place. It gave merchants and employees direct access to the platform, as well.
Over the years, we’ve expanded on that with our own network of national and local offers. And now, we have over 1 million redemption locations with savings in 12 categories.
Why Some Employers Hesitate
This seems like such an easy, low-cost way to show appreciation. What issues prevent companies from adding employee perks to their benefits package?
One of the biggest obstacles is probably the time people think it takes to offer great perks.
For example, we’re working with a large university that previously devoted a full team member to managing all of its perks. But now, almost all of that person’s time is available for other priorities.
What Undecided Employers Should Know
Right now, I’m sure many organizations are on the fence about investing in new benefit programs. What would you tell them?
No matter what size your organization may be, your employees will stretch their payroll dollars further than the cost of offering this benefit.
For instance, last week I was looking at the savings for a large healthcare provider we serve. Their employees saved $30,000 last year on Disneyland tickets! And that’s just one merchant out of thousands.
Plus this is really flexible. No matter what a person’s income and expenses may be, they always want to save money. And along the way, they want to feel special and appreciated.
Perks can help make that possible.
Learn More About Employee Perks
For more insights about how your organization can make the most of employee perks, listen to this full podcast episode. And be sure to subscribe to the #WorkTrends Podcast on Apple Podcasts or Spotify.
You’ll also find tons of helpful resources on the Abenity blog.
Anytime you want to continue this conversation on social media, follow our #WorkTrends hashtag on Twitter, LinkedIn, and Instagram. Let’s talk!
