Discount programs popular with employees, inexpensive to offer
Discount programs are one way that employers can add value to their benefits package without spending money. They allow employers to offer below-retail prices on merchandise, entertainment, services, and other perks.
More than half (58 percent) of the employers recently polled by the Society for Human Resource Management (SHRM) said that they had an employee discount program. The top five employee discounts offered are as follows:
Goods and services at specific retail stores or sites
The organization’s own merchandise or services
Most of the HR professionals (55 percent) responding to the SHRM poll reported that their employees highly or somewhat valued these discounts. Reported use of discounts ranged from very little to half of all employees.
At TASB, employees are offered discounts on dry cleaning services, gym memberships, insurance products, cell phones, computers, entertainment, and more.
There are several third-party vendors that package and market employee discount programs at little or no cost to the employer. Given the low administrative cost and the small amount of time and effort required, employee discounts can be a benefits bargain for employers.