An Employee Discount Program Is An Effective Benefit

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An employee discount program could be a great opportunity for your business to compete in the labor marketplace. Small business owners are generally at a disadvantage when trying to match the employee benefits packages that larger employers can offer. This makes it difficult to retain the best workers. Employees in these larger workplaces have had access to discounts on hotels, florists, restaurants, concerts, events and many other products and services from major global businesses throughout the world. In addition, many offshore companies are able to do business at a lower cost because they can hire workers that will do traditional American jobs at lower wages and fewer benefits.

Workers that are provided employee discount programs equate the value to more than 5% in additional wages according to the studies of one company in the industry. Some employees report saving as much as $1,000 a year on products and services they planned to or did purchase. Compared to most employee benefits, an employee discount program costs employers little or nothing.

Many larger companies are able to manage an employee discount program internally, but smaller businesses don’t have human resources departments or professionals to administer such a program. Because an employee discount program is a growing trend in the employee benefits field, there are now companies that specialize in serving small businesses to develop, implement and manage these programs. These employee-discount-program services companies maintain relationships with thousands of vendors and are now utilizing Internet-based systems that save even more money for employers and employees. The services companies can provide employers with tracking of the use of employee discount program, so they can be revised and updated to make the benefit even more valuable.

An employee discount program is another employee-benefits tool that small business owners can implement to be more competitive when trying to retain key employees. Employees of the smallest businesses can now benefit from similar discounts that their corporate counterparts receive, as well as discounts from local businesses.

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