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The Benefits of an Employee Discount Program

When it comes to benefits and perks, it can be difficult to find solutions that employees not only engage with but also find value in. With financial stresses high due to inflation and other economic factors, it is an especially crucial time to offer a perk that stretches your employees’ paycheck. An employee discount program could be the benefit you’ve been searching for, with exclusive discounts for your teammates on the things that matter most. We’ve laid out a few reasons why you should join the thousands of employers taking advantage of steep discounts. 

What is an Employee Discount Program? 

An employee discount program is a marketplace of exclusive discounts, negotiated by a team of experts, from top brands and local businesses. Employees can access their discounts through their Discount Portal and browse deals, search by brand or category, discover curated and personalized discounts relevant to their interests, and enjoy savings on a variety of products and services.

No Impact on Your Budget

Employee discount programs are often an affordable way to provide financial benefit to your team. Not only that, but it’s much more than exclusive access. With PerkSpot, you’ll get an easy-to-use portal, optimized for all devices, that ties in with your company’s unique branding, creating a one-stop shop for employees’ perks and discounts. The best part? It’s free. What’s the catch? There isn’t one. It’s a no cost solution to help stretch your employees paycheck. 

Easy to Maintain 

One of the best parts about an employee discount program is the low maintenance. The portal is managed for you and discounts are regularly updated. Leslie Sells, Benefits Analyst at Humana, shared, “It’s always been easy. This is one of the programs that almost runs itself. It’s not one I have to spend a whole lot of time on.” With a dedicated Client Success Manager, we are here to create a communication plan that builds program awareness and helps employees maximize their valuable benefit.

Exclusive Savings

Another great benefit of an employee discount program is the exclusive access to meaningful savings. With PerkSpot, employees save from 25+ categories including electronics, travel, home goods, cars, health, and so much more. In addition, savings with PerkSpot are personalized. In comparison to other discounts available, these savings are tailored and relevant. It not only saves time for your employees, but also provides discounts your employees may not be aware of. Another great benefit of PerkSpot is the access to Premium Perks. Premium Perks are verified to be the best available discounts on the market by your PerkSpot team

Exceptional Employee Retention and Engagement 

It’s estimated that turnover costs employers over $1 trillion annually. So, how do you minimize these costs and setbacks? It all starts with the employee experience. With PerkSpot, you can lend your employees a hand with their financial wellness by offering exclusive discounts on tax services, loans, mortgages, and more. Not only that, but we’ve built our platform to encourage engagement by allowing employees to save when and where it matters to them by showing the most relevant and meaningful offers. 

With a multitude of benefits and perks to choose from, offer a solution that is affordable, easy to maintain, exclusive, and engaging. Not only that, but it’s valuable for your employees. With a potential of $6k in savings, you’re not only offering impactful discounts but you’re providing a financial wellness benefit. Ready to start the savings journey for your teammates? Sign up for a demo today

PerkSpot’s 2022 Midyear Digest

January Through June Client Success Roundup

It’s hard to believe that 2022 is already halfway over. But even so, the blazing summer skies here in Chicago are perfect for PerkSpot’s sunny entrance into the year! The first half of this year has had more amazing partnerships than ever before for this midyear PerkSpot Digest. In total, twenty-five new clients partnered with PerkSpot across Q1 and Q2 2022, offering best-in-class discounts to their employees. Following over a dozen industries, our new clients range from mid-size enterprises to universally known top brands. Regardless of size or industry, we’re proud to provide our easy-to-use, white-glove service for all our new clients!

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In 2022, we added new major clients in the fields of manufacturing, retail, healthcare, food and beverage, transportation, and more. We’re especially proud to highlight a few examples of the diverse clients PerkSpot’s personalized discount programs can add value to. So take a look at some of our newest success stories in the making:

 

Wow Bao logo for PerkSpot Digest

Wow Bao – Offering Asian street food in over five hundred locations across the country, Wow Bao is an American food industry staple with their distinctive steamed buns.

Forever 21 PerkSpot Digest Logo

Forever 21 – Based out of Los Angeles, Forever 21 is a top American retailer offering fast fashion options for American shoppers across the country. 

 

3M Club PerkSpot Digest Logo

3M – A multinational innovation powerhouse, 3M sports over 100,000 manufacturing patents including adhesives, PPE, medical equipment, office supplies, and more. 

 

MoneyLion Logo

MoneyLion– An innovative new way to bank, MoneyLion offers thousands of customers easy options to borrow, save, invest and earn in one all-inclusive financial app. 

 

Sanford Health PerkSpot Digest Logo

 

Sanford Health – Sanford Health is the largest health system in the Rural United States, a nonprofit headquartered in Sioux Falls.  Sanford operates a global healthcare presence with an emphasis on pediatrics, cancer, heart, sports medicine, and women’s health.

Michaels Stores – Michaels is one of North America’s largest providers of arts, crafts, framing, floral and wall décor, with over one thousand arts and crafts stores across the United States and Canada.

 

We’re excited to serve our newest clients; always with the same attention to detail and enthusiastic, human-centric approach that PerkSpot has become known for! And especially if your organization could benefit from exclusive, custom discounts, we’d love to have you schedule a demo today to start the conversation!

 

The Importance of Pride Month in the Workplace

 

Pride Month is a time for LGBTQ+ communities and allies to come together to celebrate the freedom to be yourself. With decades of struggles with prejudice and acceptance, this month is crucial. It is a time when cities hold parades, celebrations, rallies, parties, workshops, and much more to recognize the fight for equality. As important as it is to celebrate Pride Month outside of work, it’s just as important to celebrate this monumental month in the workplace. We’ve gathered a few different ways you can raise your rainbow flag and join the movement today. 

A Brief History

In 1969, police stormed into the Stonewall Inn, a gay bar in Greenwhich Village, New York. Customers were being removed from the bar but tensions quickly rose. Patrons began resisting arrest and bystanders started throwing bottles and coins at the officers. Following the incident, the gay community was fed up after decades of harassment and took to the streets to riot for three days straight. After the riots, the Gay Liberation Front and the Gay Activists Alliance were formed. One year later, the nation’s first Gay Pride parades were held. 

Why Celebrate? 

There are many reasons why diversity is important in the workplace. A few include differing perspectives, new ideas, improved creativity, and better problem-solving. As the leaders in your organization, it’s critical to showcase the stories that make people unique and celebrate the diverse voices throughout the company. It is important to remember that the first Pride was not a celebration, it was a riot led by queer people of color. 

How To Recognize In The Workplace

There are plenty of ways to show your allyship and celebrate the LGBTQ+ community in your workplace, whether you’re remote or in-person. A few of our favorites are below! 

Support LGBTQ+ Causes 

There are dozens of different organizations and causes you can donate to. It’s important to mention, it doesn’t have to be a monetary donation. Donating your time, voice, and energy is just as important! 

Update Your Company Branding 

Businesses around the world have shown their allyship in different ways. For example, you can update your Zoom background, add your pronouns to your email signature and LinkedIn page, and send out some pride swag for your employees to show off. 

Educate Your Employees 

A lot of employees are familiar with Pride Month, but they may not know the history behind it. Use this month to sit down with your teammates for an open discussion or provide resources for employees. 

Pride Month is a time to celebrate how far we have come with LGBTQ+ rights, but it’s also a time to continue to fight for equality and recognize the struggles the community has faced. This month, take the time to celebrate and recognize the accomplishments of the gay rights movement and the brave LGBTQ+ advocates and allies standing up for equality. 

Additional Resources: 

Providing Benefits to a Multigenerational Workforce

Younger/older workers discussing multigenerational benefitsHaving a wide diversity of ages in your organization comes with a lot of benefits. As with many other kinds of diversity, a wide range of generational representation is a driver of innovation, offering varied perspectives on issues by combining older generation’s specialist knowledge with younger professional’s innate understanding of modern technologies and changes. Benefits aside, a multigenerational workforce multiple generations represented in the workforce is a near unavoidable reality as baby boomers begin to step back from top-level positions.

But multi-generational workforces also come with their own challenges, including:

  • A wide range of values and beliefs can cause differences in priorities
  • Significantly disparate communication styles and preferences
  • Wide gaps in desired perks and benefits

Diverse Generations with Diverse Values

Differing perspectives and values means different needs, and what a young professional is looking for from their benefits package is vastly different from what more senior employees need; knowing the difference and being able to account for the diverse needs of multiple generations of employees is key to crafting an employee-centric benefits experience.

The benefits valued by older generations tend towards traditional cornerstones such as 401k matching and supplemental health insurance. Younger generations, such as Millennials and Gen-Z, tend to value wellness initiatives and benefits that give them time back in the day. But there’s a surprising degree of overlap between emerging benefits that workers of every age are pining for, such as flexible work options, training and development opportunities, and smaller, personalized perks, from shuttle services to discounts on dry-cleaning. 

The generation gap isn’t as steep as it might appear. When you get right down to it, it’s about people.  Your employees are distinct individuals with individual needs that simply can’t be standardized.

The Employee-Centric Benefits Experience

Fortunately, you don’t have to standardize at all. Instead, account for differences by focusing on benefits personalization. Employees of all ages agree that flexible work options that allow them to work on their own schedules are critical; and you can take your multigenerational benefits a step further by partnering with PerkSpot. Our breadth of potential savings is uniquely positioned to cater to diverse workforces, with thousands of discounts available across dozens of industries!  We offer meaningful benefits targeted at and personalized to the unique needs of every individual employee.

And that’s the core of an employee-centric benefits experience; offering the perks that each individual really cares about, no matter how unique! By focusing on perk personalization, you can provide an employee-centric experience. Personalized offerings will help celebrate the rich diversity of your workforce – generational or otherwise. From flexible work options to regular wellness initiatives, you’ll want to target your benefits around your workforce’s distinct concerns. As you do, PerkSpot can help get started with a benefits experience centered that’s unique to your equally unique employees; Request a Demo to learn more today!

Infographic: What Your Employees Need For Success

In the past few years, employees’ needs to achieve success have shifted with financial wellness making its way to the top. In addition, employees are seeking improved appreciation, emphasis on diversity and inclusion, hybrid or remote work environments, and a company culture that aligns with their values. With high turnover rates, what can you do to attract and retain top-notch talent?

Employees are looking for more out of their employer. What options do you have to improve morale, retention, and success? Listen to employees needs, have direct conversations, and consider additional benefits. PerkSpot could be the perfect solution.

Interested in learning more about the value of an employee discount program? Sign up for a demo today. Your employees will thank you later!

PerkSpot Named Amongst The Fastest Growing Companies In Chicago

PerkSpot has been named to the 2022 Crain’s Chicago Business Fast 50 List for the third year in a row. Each year, over one hundred applications from a variety of industries are submitted. With only 50 making the cut as Chicagoland’s most rapid growing companies, competition is stiff. 

Founder and CEO, Chris Hill launched into the HR technology space when he founded PerkSpot in 2006. What began as a small company with a big vision has evolved into the successful PerkSpot that we know and love today. We continue to change the lives of employees at more than 1,000 businesses around the world, all with the goal to build a better place to work. Without a doubt, we are proud to be a thought leader in the human resources space, creating new and valuable ways for employers to provide financial wellness for over 20 million employees with an attitude of humility, generosity, and gratitude.

“As we continue to expand, it’s important to acknowledge that growing a business is by no means easy. We continue to learn important lessons and make exciting progress towards the goals we have set. Above all, none of it would be possible without each and every PerkSpotter.”

– Chris Hill

To see the full list of 50 companies in alphabetical order, visit Crain’s Chicago’s Business. 

Interested in being a part of the exciting growth? Visit our careers page to apply today.

3 Simmering Ways to Make this Summer Special

With temperatures rising and flowers once more in bloom, we’re all breathing a sigh of relief as we finally head out of winter. But it might be a surprise that Summer is just around the corner! Dust off that company grill and get a head start on summer plans at the office with these three tips from PerkSpot!

Sunglasses on Summer Sand

 

1) Normalize Vacations for your Employees this Summer Break!

What would Summer be without Summer Break? Remind your employees that it’s getting close to the best time of the year to kick back and take a break. Encouraging regular vacations is an excellent way of sponsoring a positive culture!

The warm weather is perfect for finally making use of saved-up PTO, so encourage employees to use their time off and managers to lead by example. If you do, you’ll see a healthier and happier workforce – especially with a discount program to help employees save on all their vacation needs! Travel and vacations are one area where PerkSpot can help employees save armloads. With savings on everything from the flight to the hotel to the restaurants, PerkSpot can make vacations stress-free. If you’re interested in hearing more of the benefits PerkSpot can offer to employees, sign up for a demo today!

 

2) Use the warm weather to encourage wellness initiatives!

Healthy employees are happy and productive employees – it’s no surprise that physically and mentaly healthy employees call in sick less and show improvements in both focus and productivity. So why not introduce some health and wellness programs now that it’s finally feeling good to get outside? Biking is a fun and healthy way to see the local neighborhood and even city in a whole new way. Why not take steps to encourage it as the weather warms up?

Try setting up a bike-to-work challenge, for instance! Offer employees rewards for taking healthy transportation options rather than car or bus. For remote workers, virtual meditation sessions or community exercise (yoga or pilates are perfect) can be a great way to encourage employees to get moving! By starting positive health initiatives during this summer, you can help fuel healthy living year-round in employees.  Healthy employees are happy employees, and you’ll see productivity  boons as a result!

 

3) Focus on building a community with regular Summer events!

Ultimately, you want your work environment to feel like a community. Warming temperatures mean the perfect time for challenge courses or outdoor barbeques! While in-person events can be a great bonding experience, always be sure to consider your remote teams as well. Incorporate regular virtual events into the calendar, so those working from home can be part of your company culture! From trivia nights to beach parties, there’s no shortage of community events that can spice up your schedule.

Planning summer socials can help bring your whole organization together, and create a feeling of solidarity between teams; not to mention how much fun you can have with it!  Hosting regular social gatherings, including virtual events, makes it much easier to maintain morale, especially amongst extra-motivated employees. Help cultivate a positive company culture while strengthening morale with some new event series this Summer!

This Summer is the perfect time to spice up your workplace with new events, healthy habits, and light-hearted socials. These help HR departments foster satisfied employees at both the enterprise and team level! With new social programs, encouraged vacations and an authentically upbeat attitude this summer, you can reduce turnover and encourage employee loyalty through the simplest means possible – making your organization an amazing place to work.

How To Prioritize Mental Health In The Workplace

Mental health is an incredibly important part of our overall health that unfortunately is commonly overlooked. In recent years, stresses from the pandemic, inflation, along with many other contributing factors have led to further deterioration. To recognize Mental Health Awareness Month, we have gathered different ways you can prioritize the health of your employees this month and beyond.

Ensure Employees Are Taking Time Away From Work

In 2021, Americans took the fewest number of PTO days out of everyone on the planet. In 2019, research conducted by the U.S. Travel Association found that 55% of Americans did not use all of their paid time off. So why are people leaving vacation on the table and letting their health suffer from burnout? Vacation guilt and worries about work are common reasons. It’s crucial that employees are given the needed time to unplug and recharge, and a lack thereof can be detrimental to their overall health. Encourage paid time off and ensure employees are fully disconnected while out of office. 

Train Your Leaders To Help

It’s important to increase awareness so people in the workplace can notice when a coworker is struggling with their mental health. Offering managers the opportunity to attend trainings focused on the subject equips them with the skills to support those with mental illness as well as help the well-being of the rest of their teammates. Each illness is different and it’s important that managers approach each employee as an individual. 

Provide Mental Health Benefits 

Mercer’s 2021 Health on Demand Report found that of 14,000 employees across 13 countries, 44% of employees, who didn’t have access to mental health benefits, felt unsupported by their employers. Benefits can include a wide range of offerings, from weekly meditation to discounts on therapy sessions. It’s important to provide a tiered benefit program that offers a variety of different options that can benefit each individual’s unique needs. 

Fight The Stigma 

A stigma causes people to feel ashamed for something that is out of their control. There are plenty of ways to fight the mental health stigma, including open communication, education, compassion, along with many others.  In addition to providing options, it’s important to communicate with your employees the different opportunities available and offer a safe space for discussion. Let your employees know the importance in your workplace and encourage open communication. 

The mental health of your employees is more important now than ever. This month, take the necessary steps to support, recognize, and positively impact the mental health of your employees. They will thank you! 

Mental Health Resources: 

SAMHSA’s National Helpline 

Help For Mental Illnesses

Faith & Spirituality Also An Important Part Of Workplace Inclusion

A unique calendar alignment has occurred this year that only takes place approximately every 33 years. Easter, Passover, and Ramadan have overlapped, bringing a convergence of reflections for these communities. To recognize this, the PerkSpot team came together to discuss. The focus was around how faith & spirituality influences who we are and how we work. Our conversations included personal stories and breakout sessions. Both designed to unlock conversation on a topic that is often ignored or overlooked in our workplaces. 

Diversity, Equity, and Inclusion 

Discussing faith and spirituality can be a daunting and sensitive topic. Our beliefs are a core part of our identity and employees feeling excluded or unrecognized can be detrimental. Faith & spirituality, whether observed or not, is often highly influential in informing who we are, the choices we make, the way we interact, our aspirations, and our values. When considering DEI efforts, we think you should find opportunities to affirm the important role that faith plays in how your employees contribute in the workplace.

Recognize Your Employees Beliefs 

It’s important to recognize and offer time away to practice each individual’s traditions and practices. Offering an open vacation policy or flexible scheduling allows employees to take the time to fully immerse in their practices. 

Nadir Mian, Graphic Designer at PerkSpot, shared, “At companies with a designated limit to PTO, some people have to use their vacation for their religious holidays whereas others have time off for their religious holidays built into their schedule. Although accommodating for every religious holiday may not be feasible, extra days on top of the allotted PTO time should be available to those who witness religious holidays that don’t fall under the traditional corporate holiday schedule.”

Another way to recognize your employees is by holding company-wide events or smaller breakout groups. It allows the opportunity to reflect, discuss, and participate in sharing personal stories when comfortable. We don’t advocate discussions that compare or contrast belief systems. But rather, allow employees to share how faith has influenced who they are, their life experiences, and what’s important to them.

We encourage you to use this unique overlap of traditions as a reminder to recognize your employees’ differences in beliefs. Offer a safe, open working space that allows for exploration and recognition.

Mayo Clinic Centralizes Their Discount Program

Mayo Clinic is home to 73,000 employees with major campuses located in Rochester, Phoenix, and Jacksonville, with smaller satellite locations across the country. As one of the top healthcare providers in the nation, patients from around the world travel to Mayo Clinic seeking top-notch care. With employees located in different regions, Mayo Clinic was in need of a discount provider that could bridge the gap in their discount offerings.

Prior To PerkSpot

Mayo Clinic previously had their own discount portal but it was a heavy lift to manage and had strict requirements. To be listed, vendors needed 3+ years as a business, 20% discounts or higher, and needed to commit to a year of service. This criteria made it difficult to secure offers and the management of the program was difficult. 

Conversely, PerkSpot manages the program for you with a team of client success managers ready to help. We devise engagement strategies, create marketing materials, and more. Additionally, Mayo Clinic’s previous discounts were based on their Rochester location making it difficult for employees elsewhere to benefit. 

“We wanted to not only have our employees at  Rochester have discounts, but everybody at Mayo Clinic to have discounts”, shared Betty Smith, Employee Purchase Program Coordinator. In 2015, Mayo Clinic made the decision to partner with PerkSpot. Since then, on average 11,500 employees have saved on a monthly basis. With a direct link from their employee intranet, the mobile app, and email communications, saving is easy. 

Decreased Turnover Rates

The healthcare industry has seen staggering turnover rates with 19.5% in 2021, a 1.7% increase from the previous year. HR Professionals are being challenged to improve employee morale and decrease employees leaving. In addition, rising inflation and wage pressures are only adding to the challenge. “By having PerkSpot, it gives us a competitive advantage over our competitors that don’t offer comparable discounts to their employees.” 

Supporting Local

One feature Mayo clinic has utilized is PerkSpot’s “Suggest a Business” tab to recommend local vendors. The suggest a business functionality is great for adding additional discount opportunities for our staff. The more the merrier.” One example Mayo Clinic suggested was a local nail salon in Rochester. Following the suggestion, our team secured an exclusive offer for employees to start utilizing in their discount portal. 

In addition to local discounts, employees are saving on hotels, groceries, events, and more. In 2022, Mayo Clinic’s most popular savings have included travel discounts along with savings on Apple products.

With the current environment and challenges over the past year, PerkSpot can be the solution you need to reduce turnover and set yourself apart.