A recent report by Willis Towers Watson discovered that almost a quarter of surveyed employees fell into the “high-stress” category when it came to dealing with their finances. Unfortunately, that financial stress tends to pervade nearly every aspect of an employee’s life, including – obviously – their work. And the stats don’t get any better. Employees who are struggling financially will lose 41% of work time compared to their less-stressed counterparts. Plus, they’re more likely to have low engagement and productivity levels. Whether we like it or not, an employee’s financial struggles can easily become an HR problem. Want to fix that? Check out the top 4 ways you can easily help improve your employees’ financial wellbeing!

employee financial stress

1. Flexible Schedule

HR professionals already know the importance of a flexible schedule. Not only does it provide the opportunity for a better work-life balance for employees, but it can actually improve productivity and engagement. But there’s another unexpected upside to allowing your employees a bit of flexibility in their scheduling: it saves them money! The option to work remotely or choose your own hours means employees don’t always have to commute into work, so they can save on gas or public transportation costs. What’s more, the necessity for child or pet care, which is more often than not a costly expense, is dramatically reduced. If you’re looking for an easy way to help your employees save, consider implementing a flexible scheduling option!

2. Financial Advising

Many employees develop their financial stress simply because they don’t feel educated enough on the topic. When this is the case, the best thing you as an HR professional can do is offer them as many resources as possible. To begin, get a good understanding of the kind of financial advice your employees want with a survey. From there, you can find a myriad of options that will provide financial education to your employees. Depending on your employees, this can range from budgeting advice, saving tips, investment suggestions, or retirement plan help. Not only can these lessons benefit your employees’ financial wellness, but a less financially stressed employee will be more productive and more engaged.

3. Referral Bonuses

As an HR professional, you probably know the importance of acquiring talented employees for your open roles. But did you know that the most effective way to recruit talent is through your current employees? Not only do employees understand their employer’s brand, culture, and needs, but they also know whether their referrals are equipped to fill open roles. Incentivize your employees to refer the best possible candidates by offering a referral bonus and encourage them to put it towards something important, like monthly payments or a savings plan. You can help put money into your employees’ pockets and find fantastic candidates all in one fell swoop!

4. Perks and Discounts

One of the best ways to help your employees save money is to offer them discounts in the places they spend the most money. But that can be difficult when you have a diverse workforce with different needs. Some employees may want to save on big-ticket items like automobiles or insurance. Others may want savings on smaller, everyday items like groceries, electronics, and other categories. That’s why an option like a perks and discounts program is perfect. Employees can search for the discounts that apply best to them and use them as they see fit.

Everybody knows how difficult it is to concentrate on work and other responsibilities when financial stress is weighing heavily on their mind. Therefore, it’s important that an employer takes the necessary steps to relieve employees’ stress when they can. If you don’t already, try implementing these different suggestions in your company to improve financial wellness, engagement, and productivity!

As an HR professional, there are several areas that are always top of mind. Talent attraction, retention, turnover, employee engagement, and productivity, just to name a few. A perks and discounts program has the potential to improve those areas, and we’ve got the data to prove it. Check out these 5 statistics that prove the ROI on an employee discount program.

employee discounts

Seventy-eight percent of surveyed employees said the employee benefits package is very or extremely important in their decision to accept or reject a job. (EBRI)

The job market has turned so that employers must compete for the best talent they can find for open roles. So, what does this have to do with employee perks and discounts? Quite a bit, actually! When you’re competing for great candidates, it’s important to know what they’re looking for. And it turns out, more than three-quarters of candidates want to see a developed employee benefits package that’s more than your typical run-of-the-mill, traditional benefits. Do this by beefing up your benefits offering with a voluntary benefit like an employee perks and discounts program, and you can use it as an added bonus that comes with any role your company offers!

Eighty-five percent of employees felt their benefits package failed to provide the support and flexibility required to meet current and financial obligations. (Barclay’s)

Consider your current employee benefits package. How does it help support the financial wellness of your employees? If you don’t feel great about your answer, that’s probably because your benefits package doesn’t offer the right options. And unfortunately, it’s not just your employees that are being affected by this. When an employee brings stress over their financial situation into the workplace, it hurts productivity, engagement, and your bottom line. Worrying about finances at work can cost an employer approximately $2,000 per employee. By investing in a free employee perks and discounts program, you can show support for your employees’ financial wellness and help out your bottom line in the meantime.

Ninety-four percent of millennials and 92% of Gen X’ers say nontraditional benefits make employers more attractive. (ICIMS)

Gen X’ers and millennials currently make up the two largest generations in the labor force, so HR professionals should be doubling down on their efforts to attract and retain those candidates. But attracting candidates who are in two dramatically different stages of life is difficult. Whether your employee needs assistance financing their mortgage, helping out an older family member, or saving on a gym membership, they’ll have those options available to them. An employee perks and discounts program makes it possible to provide an attractive benefit that people of all ages, incomes, and career stages can enjoy.

Productivity losses related to personal and family health problems cost US employers $1,685 per employee per year, or $225.8 billion annually. (CDC Foundation)

Perks and discount programs and employee health and wellness might not seem to be very connected. However, there are more connections than you may think. We know how important the health and wellness of an employee is, both to employees themselves and to the company they work for. So important, in fact, that health and wellness initiatives have been on the rise in the past couple of years. Companies are working hard to put an emphasis on the overall wellbeing of their employees. Finding a perks and discounts program (like PerkSpot!) that offers discounts on gym memberships, healthy snacks, and more allows a company to essentially kill two birds with one stone: you can offer a unique benefit and make it easier for your employees to live a healthy lifestyle!

Seventy-three percent of employees say that customized benefits increase their loyalty. (MetLife)

Every HR professional knows that a loyal employee is an employee they want in their workforce. With concerns like retention and turnover being so high, loyalty in an employee is a quality that can’t be beat. What’s more, a disloyal employee can end up costing a company more than you’d think. To replace an employee, a company usually must expend an average of thirty-three percent of that employee’s salary. Instead of focusing on how to replace the employees you’ve lost, work on retaining the ones you currently have! Incorporate an employee perks and discounts program into your voluntary benefits and improve the loyalty of your employees.

These statistics clearly show the benefits of an employee perks and discounts program. If you’re interested in learning more about how an employee discount program could work for your company, click here!

When the name of your company is PerkSpot, it’s understood that you’re going to offer some pretty good perks to your employees. One of our company-wide favorites? Our open vacation policy! Check out why PerkSpot chooses to offer this and why it could be the right PTO policy for your employees!

vacation time

But first… what is an open vacation policy?

An open-vacation policy is tough to define, but we’ll do our best. Essentially, a company that offers open vacation doesn’t create a specific amount of days that its employees can take off. The policy can vary from company to company. Some refer to it as unlimited vacation. Others suggest a general amount of days but don’t dock employees for choosing to take more or less, and some have their own customized vacation policy that includes other guidelines. Here are our top reasons for offering open vacation!

1. Encourages Work/Life Balance

In a recent poll by Gallup, over 60 percent of surveyed employees said they feel burnt out at work sometimes, very often, or always. One of the best ways to combat burnout? Unplug! At PerkSpot, we place a strong emphasis on creating a good work/life balance, and using a vacation day (or three!) gives employees a chance to do this. Whether PerkSpotters choose to use their time off relaxing on the beach, exploring a new city, or immersing themselves in some quality self-care, it’s okay by us!

2. Boosts Company Morale

Simply put, employees like vacation! That’s no surprise to anyone, but what might come as a surprise is how much offering a perk like open vacation can improve both company morale and employee loyalty. Employers who offer open vacation must instill a good amount of trust in their employees and the fact that they won’t take advantage of it. Similarly, employees who receive such a great perk will go to great lengths to ensure it’s something they use, but don’t abuse. It’s a win-win for both employer and employee!

3. Improves Work Skills

Believe it or not, an employee’s work can actually improve from taking time out of the office to relax. According to an internal Gallup done by Ernst & Young, year-end performance ratings improved by 8 percent for every 10 hours of vacation time an employee took. Plus, they found that vacation-goers were less likely to leave the firm than those who rarely used their vacation days. What’s more, traveling can help improve an employee’s flexibility and communication skills and provide them with a new perspective.

An open vacation policy is a great perk, but it’s not something that will work for every company. If you choose to implement it, be sure to include guidelines about proper communication and planning before any vacation is taken so that it’s a smooth and easy transition. Happy vacationing!

A recent report discovered that the turnover rate is the same in organizations that don’t offer employee benefits and those that do, but don’t effectively communicate them. There’s a good chance you have an employee benefits communication strategy in place. But what if it’s not the right one for your employees? Check out this simple guide to tailoring your communication method to your non-traditional employees. It can ensure your employees make the most of their employee benefits!

benefits communication

For remote employees

In 2018, it was reported that 3.9 million Americans worked from home to fulfill at least half of their working hours. Anyone who has worked remotely knows the advantages: more flexibility, productivity, and engagement. But, from an HR professional’s perspective, it raises some difficulties. How can you properly communicate with an employee that you rarely see? It might be hard, but it’s definitely not impossible.

Want to effectively communicate your employee benefits to your remote workers? Turn to the digital possibilities. Remote workers are typically glued to their phones and/or work computers during their working hours. Therefore, digital communication works well here. However, that doesn’t mean you can send a quick ping and hope that the job is done! We recommend a user-friendly website or portal that houses all of your employee benefits offerings. Use email communication to consistently remind remote workers that this exists and is a great resource for any questions or concerns regarding benefits.

For part-time employees

Unlike remote workers, most part-timers aren’t in front of their computers all day. It’s also likely that their benefits suite differs significantly from that of a corporate employee. Whether the benefits you’re offering are run-of-the-mill or part of a more unique voluntary benefits suite, they can be instrumental in helping to retain your employees. In an industry like retail, where the part-time employee turnover rate sits at over 60 percent, employee loyalty is a must.

Want to effectively communicate employee benefits to part-time employees? Reach them at their place of work with physical pieces of communication. Make them specific and interesting, and offer an easy call to action so your employees understand the next steps they should take to learn more about benefits programs. You know your employees best, so consider what you could create that would inspire employees to engage – flyers, posters, and electronic displays are all great ideas you could execute. Give some thought to where to place them so your employees see them.

For gig employees

In recent years, we’ve seen a dramatic spike in the number of gig workers that make up the workforce. In fact, online surveys believe employees who reported engaging with gig work the month before make up between 25 and 30 percent of today’s workforce. However, nearly 9 out of every 10 gig workers has another form of income, meaning the benefits you offer are more than likely supplemental benefits. Keep in mind, these supplemental benefits can be a great tool to attract more employees, so it’s important you communicate them to both prospective and existing employees.

Want to effectively communicate employee benefits to gig employees? Take advantage of the method of communication you currently use to send messages and other important data. For many gig employees, this will be an app or website easily accessed on smartphones or mobile devices. Because they are already comfortable using this platform, it makes the most sense to seamlessly introduce benefits communications to it. Be sure to give ample indication to employees that their benefits can be accessed on an app. Assist them by providing a guide that explains just how to browse through the offerings.

According to SHRM, only 19 percent of employers believe that their employees have a high level of understanding regarding their employee benefits. In addition, 80 percent of organizations reported that their employees don’t even open or read their benefits communications. One possible reason? The communication strategy was developed without employees in mind! When it comes to your non-traditional employees, make sure you strongly consider how they best digest and engage with employer communications and develop your strategy around that.

Don’t forget, PerkSpot is here to help! We realize the importance of tailoring a communication strategy explicitly for the employees. That’s why we have a team of account managers dedicated to creating communications that work for your workforce. Click here to learn about what we can do for you.

Here at PerkSpot, we’d like to think we’re something of an expert on rewarding and recognizing employees. We know a rewards and recognition program can improve areas like talent acquisition, employee retention, turnover, and engagement. But where do you start? Begin by surveying your employees, who are the people that will most directly benefit from this program. To get started, check out these four questions.

how to recognize an employee

What motivates you?

One of the most important components of recognizing employees is doing so in a way that feels valuable and motivational. After all, your aim with a program like this should be giving your employees a reason to continue to put forth great performance and reward them for doing so. But to make your program successful, it’s important to know what motivates your employees. Once you have a good understanding of that, you have a much better chance of developing a rewards and recognition program that has a successful and profitable outcome.

How do you want to be rewarded?

It’s easy for an employer or HR manager to guess how their employees want to be rewarded and they might be close to the mark with their guesses. However, if you truly want to reward your employees the right way, it’s important to know what kind of rewards they want. For some, it could be perks, like company outings or vacation days. Others might prefer monetary rewards. For example, consider a yearly bonus or recognition directly connected to quotas or goals. The aim here is to show your employees your appreciation. Do this by giving them something you know they would enjoy.

How do you want your rewards communicated to you?

This question dives deeper into the nitty-gritty of your recognition, but it’s an aspect that should be acknowledged. Your employees may have different preferences for how openly you choose to recognize them. Studies show recognition should remain largely public, as this incentivizes other employees to work towards optimal productivity. However, some employees might prefer more private recognition for their accomplishments. Therefore, it’s vital you check with your employees to confirm they feel comfortable with how you communicate their rewards, both to them and to the rest of the company.

Who do you want to reward you?

Odds are, this answer will dramatically differ depending on the size and structure of your company, so you should take into account the culture of your company when you ask this question. A more relaxed work environment may find employees prefer to receive recognition from all levels: CEO, manager, or coworker. In a more corporate or structured workplace, employees might only feel recognition from their managers makes the most sense. Your aim with this question is understanding whose recognition will have the most impact on work output and productivity for your employees.

When you ask your employees these questions, it’s important to remember that there are no wrong answers. Instead, keep in mind that these answers will help you shape the ideal rewards and recognition program for rewarding your employees. If you’re looking for guidance, or you’re interested in learning about PerkSpot’s Rewards and Recognition platform, click here to learn more!

July has officially wrapped up and August has begun. We’re starting to see back to school commercials on TV and school supplies filling the shelves. That can only mean one thing – internships at many companies, PerkSpot included, are coming to an end. While we will be sad to see our interns go, we’re so appreciative of the lessons they taught us during their time at PerkSpot- and here are some of the most important ones:

internship programs

1. Ask Questions

When an intern comes into your company, they’re bound to have a question or two … or twelve! A new workplace, new responsibilities, and new faces can equal a lot of confusion for someone, and we loved watching our interns learn how to adapt and acclimate to our workplace. But most of all, it was very refreshing to experience people in the workplace who weren’t afraid to ask questions when they didn’t know the answer to something or wanted to dive deeper into a topic or project. In the workplace, there can be an incredible amount of pressure to know the answers at all times. When did we stop asking questions? Asking the who, what, when, where and, most importantly, why, of something helps us create and innovate. It’s how we continue to move forward instead of getting stuck in the same place. Take a page out of our interns’ books and ask a question whenever you’re unsure!

2. Be Enthusiastic

The beauty of an internship program is that interns get to try their hand at several different projects and tasks. Often, doing so helps give them get a better understanding of what they do and do not enjoy, so they can make better decisions about the roles they’d like to pursue in their careers when it comes time to do so. As we assigned tasks and asked for help in various projects from our interns, we loved the enthusiasm they displayed. No matter how big or small the task, our interns strived to give their 100 percent, every time. Sometimes at work, the things we do over and over again can feel menial and tiresome. We forget the excitement and sense of achievement that we felt the first time we completed a task perfectly on our own and watching our interns do so reminded us of that. Adopt the enthusiasm of an intern and you’ll enjoy your workload you work on a bit more.

3. Make Connections

As our summer internship program wraps up, the LinkedIn requests and emails with contact information have come rolling in! Our interns made wonderful connections this summer, with their coworkers, managers, and fellow interns, and they’re working hard to make sure those connections remain intact and strong as they leave our office. But connections like these shouldn’t stop just because you’ve lost your intern status. Networking is part of the professional world, and an important part at that. Make a concerted effort to form connections with those that you work with, as well as people who work in your field and can relate to the work you do every day. Not only is it enjoyable to have coworkers and friends you can celebrate and commiserate with, but you just might find that you’ll need their assistance in your professional life one day!

4. Invest in Yourself

One of the most important elements of an internship program is helping interns grow themselves as working professionals. They’re constantly seeking out opportunities to gain skills or develop the ones they currently possess. They dive into projects they might not be completely familiar with just so they can gain experience and know-how. When was the last time you gained a new skill? We encourage you to be like an intern: be open to taking on new skills, both in your professional and personal life, that can help you grow as an employee and person.

We can’t believe that our summer internship program is almost over. It feels like just yesterday that we welcomed our interns to the office, and soon we’ll be wishing them good luck on their journey. But PerkSpot is extremely fortunate to have had their skills and talents in the office, if only for a short time. Us PerkSpotters will be sure to take the lessons they taught us to heart, and we think you should do the same! What did your summer internship program teach you?

We all know how important recruitment is for a company. The core of any company is its employees, so a good recruitment process is key to a successful company. But finding the right candidates isn’t as easy as it sounds. In fact, HR Dive reported a talent shortage was one of the top concerns of organizations going into 2019, and by the looks of it, that concern has remained strong as the year enters its half-way point.

So how can recruiters be successful as they seek out talented candidates for their open roles? We think we know one solution – and it’s easier than you think! A perks and discount program is one tool you can leverage during your recruitment to acquire the best talent possible. Check out why!

1. Demonstrates an Investment in Employee Financial Wellness

Did you know 85 percent of employees admitted to feeling anxious about their personal finances, which often interferes with their work? On top of that, 33 percent of respondents said they worry about their finances more than once a week! For almost any employee – and candidate – finances can be a stressful subject. But not all companies can invest in their employees’ financial wellness through monetary benefits, like a bonus or raise in salary. An easier and less expensive solution is a free perks and discounts program that finds other ways for employees to save, namely in the important purchases they’re making on things like cars, vacations, and everyday items. Showing your candidates an investment in their financial wellness will help increase their attraction to your organization!

2. Encourages Employee Work/Life Balance

Almost half of HR leaders say between 20-50 percent of their employee turnover is due to workplace burnout. And when job seekers begin looking for a new job, what is one of the top qualities they look for? A recent Glassdoor study found that 47 percent of respondents said a work-life balance is a top-selling point for organizations they’re considering. But that balance is a difficult thing to strike for employers. Believe it or not, a perks and discounts program can help with this. When employers encourage employees to use a program that offers discounts in categories like travel, health and wellness, and personal hobbies, they’re thus encouraging their employees to pursue their interests outside of work that will keep them healthy and offer a source of relief from the stress that can come from the workplace.

3. Keeps Company Competitive in Recruitment Efforts

With such a strong talent shortage taking place in the recruitment field, finding a way to remain competitive in the hunt for talented candidates feels like a never-ending battle. Companies can easily tout a great work culture or a development program. In fact, we firmly believe all companies should do so! But how can you separate your organization from the crowd? Offer a competitive voluntary benefits suite, perks and discounts program included, that helps round out an already enticing offer for your top candidates. Over half of respondents to a Glassdoor survey said they strongly consider the perks and benefits included in a job offer before accepting. Guarantee a positive response to your next offer letter by including a benefit like perks and discounts in the voluntary benefits you provide!

Every organization knows the importance of recruitment, both to their culture and their bottom line. If you’re looking to improve your employee recruitment, especially during a time when it’s becoming increasingly difficult to secure the best candidates, start leveraging your perks and discounts program as a recruitment tool! And if you don’t offer a perks and discounts program, now is the time to start. Click here to learn more about PerkSpot’s perks and discounts program.

Odds are, if you’re an HR professional, you’ve asked yourself this question once or twice (or maybe several times) before. Unfortunately, you’re not alone. According to a 2017 report by Chestnut Global Partners, an international provider of Employee Assistance Programs, less than 7% of employees use their benefit programs to their fullest extent. Yet, a recent Glassdoor survey found that 80% of employees said they would prefer additional benefits over increased compensation. Obviously, benefits have an incredibly strong impact on employees – they just don’t know how to use them properly.

voluntary benefits

As an HR professional, you’ve likely spent hours crafting what you believe to be the perfect employee benefits suite. So, why don’t your employees use them all? We think we know the answer. Check out the 3 most common reasons why employees don’t use their benefits. More importantly, learn how you can solve the problem!

1. They don’t understand them.

Let’s face it, employee benefits can be difficult to comprehend. Perhaps it’s your employee’s first job, and they’re navigating the complex waters of employee benefits for the first time. Maybe your employee feels just downright confused, but doesn’t know where to go to clear things up. Whatever it is, it hurts employees who don’t understand how to utilize their employee benefits package best. So, how can you solve this problem?

Improve the way you educate your employees about their benefits. If this solution sounds simple, that’s because it is! We recommend creating a short, anonymous survey and encouraging your employees to be completely honest when they fill it out. Emphasize the fact that their responses will be used to create a better plan for explaining their benefits. Then, do just that. Figure out where the gaps are in knowledge about your current benefits offerings, and then work to fill those gaps with better and more useful information about the different options available and how they would apply to each employee.

2. They don’t know they exist.

When it comes to employee benefits, chances are your employees know about your run-of-the-mill offerings like medical insurance. However, a new trend is creating a suite of voluntary benefits to attract new employees and keep current ones. Unfortunately, many companies haven’t perfected their communication strategy for these benefits. This causes a problem for companies, as voluntary benefits are one of the best ways to recruit, hire and retain employees. But obviously, employees need to know about their voluntary benefits for them to be meaningful. So, how can you solve this problem?

Expand the way you communicate your benefits. Take a look at how you currently communicate the employee benefits you offer. And don’t just limit yourself to one or two communication strategies. Not only should you be utilizing popular methods like physical flyers, emails, and your company’s intranet, but try some outside of the box ideas as well! Hold a quarterly workshop to walk employees through your benefit suite, and offer a small incentive like lunch or a fun raffle for attendance to the workshop. Give ample warning open enrollment is beginning and work on creating answers to questions you frequently get. It will take some experimentation in the beginning, but when you finally find the right amount of communication that works for your employees, their active utilization of benefits will be well worth it!

3. They think they’re only for high-cost items.

Another common misconception about employee benefits is they are only useful for expensive or high-cost items, like health, dental or vision insurance. Even voluntary benefits like a perks and discounts program are commonly thought of to only have deals for costly items, but it’s actually quite the opposite! Most voluntary benefits have offerings that range from more expensive items to deals on your day-to-day products that any employee can afford – and more importantly, will want! So, how can you solve this problem?

Provide your employees with concrete evidence that their benefits work. When you present solid proof like savings numbers or anecdotes from fellow coworkers about how they’ve saved, it makes it much easier for employees to understand that their benefits, including voluntary, are extremely useful and valuable for them. For example, with PerkSpot, you will regularly receive helpful data about how much your employees are saving through their Employee Discount Program, plus which categories and discounts they’re loving!

We know employee benefit programs have an incredibly positive effect on employees. They offer assistance and security for employees, which, in turn, promotes feelings of happiness. As most managers and HR professionals alike know, a happy employee is a productive, engaged, and attentive employee. If you’re struggling to see full participation in your employee benefits package, it’s likely that your employees don’t understand it, don’t know what it fully entails, or they have misconceptions about it. Solve that problem with one of these easy solutions! If you’re interested in learning about new ways to communicate and educate your employees about their Employee Discount Program, click here!

As HR professionals, we know how hard it can be to keep employees motivated and productive during the summer months. In fact, Business Insider reported that employee productivity drops as much as 20 percent as spring turns into summer. With the Fourth of July coming up, it’s difficult not to worry about employee motivation dipping even further. Here are three great tips for keeping your employees productive, despite the distraction of summer.

summer productivity

Go Outside

Every office worker knows how hard it can be to sit at their desk while they see the sun shining outside. Let your employees enjoy the nice weather by suggesting managers arrange for outdoor or walking meetings, which gives you a good chance to stretch your legs and feel the sun. If your office location permits, create an outdoor break area, or open the windows and let the fresh air in. Not only does a breath of fresh air improve the productivity of your employees, but studies also report it can help cognitive function, decision making, and overall health!

Set Summer Goals

Summer isn’t a typical time of year to set goals for your employees, but when done right, it can seriously improve motivation throughout the workplace. Putting incentives into place gives employees a good reason to buckle down and remain engaged in their own work. If you want to have more fun with it, look at your company culture and create goals based around that. Here at PerkSpot, we host an annual summer event that gets the employees outside and enjoying the great weather. Plus, all the proceeds that come out of the event are donated to a local charity of our choosing. Each summer, this event allows us to give back to the community, and have fun doing it!

Encourage Vacation Time

Did you know that 64 percent of employees say they feel refreshed and excited to get back to work after a vacation? Not only should you encourage employees to actually use their allotted vacation time, but take it one step further. Remind them of the importance of “logging off” during their vacations – 41 percent of vacation takers say they still check on work while away, which means they aren’t able to fully decompress from the stress that may come with their position. Instead, create a system at your workplace that ensures others can fill in when their coworkers are out on vacation. This can provide a sense of relief for your traveling coworkers, and a better sense of teamwork and togetherness in general.

Summer can be a difficult time for employee productivity, but it doesn’t have to be. In fact, you can increase motivation among your employees by trying out these easy tips! How do you improve employee productivity during the summer? Let us know!

Diversity in the workplace is no longer a hot topic. Rather, it’s an important and permanent topic that should continue to be talked about and built upon. As a new generation enters the workplace, there’s a facet of diversity that we want to discuss: generational diversity. More importantly, how can you improve it in your workplace? We think we know one solution – a perks and discount program.

generational diversity in the workplace

We know what you’re thinking. What’s the connection between a workplace and a voluntary benefit like perks and discounts? More than you think! In today’s day and age, there can be up to four generations of employees working closely together in different departments or on different projects, and this is a great thing for the company. Not only does this mean you’re getting the benefit of different perspectives, opinions, and beliefs, but studies say the revenue of a business can increase by 19% when that business enjoys diversity. But that’s not as easy as it sounds. More often than not, employees want to go where they feel comfortable. Eventually, they end up working with people who look, think, and sound like them, creating a disparity in diversity for your workplace.

So what can you do to fix this? Obviously, a perks and discounts program is not a cover-all solution to a large problem like a lack of generational diversity in your workplace. However, it is a fantastic place to start. Here are three important reasons why:

1. Perks and Discounts Programs Offer Discounts for All Financial Situations

There’s no getting around the fact that different generations have different needs. Those differences, while great for creating a sense of generational diversity and inclusion in the workplace, can also make it difficult to find a solution that appeases all employees. The beauty of a perks and discounts program is that it manages to do just that! By providing an array of discounts in a variety of categories, every employee is able to find a discount they find valuable and useful to them individually.

2. Perks and Discounts Programs Help Support Financial Security

Yes, each generation is different. However, virtually every member of the four generations that make up your workforce has at least one thing in common, and that is a desire to be more financially secure. Whether it’s dealing with expensive student loans, a mortgage on a new house, or an ailing family member, most employees have at least one area in their life that causes financial stress in their lives. Fortunately, a perks and discounts program can offer some help here as well. Saving through exclusive perks and discounts relieves some of the financial pressure your employees, no matter their generation, are experiencing every day. This can help with a number of things; their productivity, stress levels, and sense of financial security, to name a few!

3. Perks and Discounts Programs Attract and Retain Talent of All Ages

Generational diversity is one thing that should always be on your mind when it comes to both hiring new employees and retaining your current employees. Let your perks and discounts program be your best friend when it comes to these areas of your business. A recent Glassdoor survey found that 79% of employees prefer new or additional benefits to a pay raise. Broken down even further, the survey found 89% of employees aged 18-34, 84% of employees aged 35-44, 70% of employees aged 45-54, and 66% of employees aged 55-64 said they would prefer those perks and benefits to a pay raise. Factoring those preferences in, a perks and discounts program seems like the perfect addition to your benefits offering to both attract and retain new and existing employees of all ages.

We know how important diversity is to a company. It can improve your company’s productivity, efficiency, and overall success. But achieving it can seem like an impossible goal. Start on the right foot by implementing a perks and discounts program that supports a movement of generational diversity in your workplace. Click here to learn more about PerkSpot’s Perks and Discounts program and get started today!