If you’re a leader looking for creative ways to enhance your Employee Value Proposition (EVP), foster loyalty, and retain critical talent, or experimenting with communicating what makes your organisation one worth joining, you are definitely not alone.
With 66% of HR leaders actively hiring, and 42% of employees likely to look for a new employer within the next 12 months, the war for talent is well and truly on and organisations are looking to battle competition for unique ways to to stand out in a competitive market and win the war on talent.
This is easier said than done as employees continue to navigate their way towards the end of another shaky year.
However, the stability that employers provide, and the everyday experience of being connected, recognised and supported, all play a really critical role for maintaining employee motivation, productivity and loyalty.
In a remote environment, this can seem impossible to achieve, or overwhelming at best – I’ve spoken to many HR leaders who are feeling stressed, uncertain, and keen to find ways to deliver something meaningful, impactful and practical to their employees and their families.
One way Reward Gateway helps organisations achieve this is by offering an employee discounts programme that supports employees financially. As an employer, you can use the programme to increase the financial support you provide employees at a time they need it most, and use that benefit to create a compelling and competitive Employee Value Proposition.
It’s a win for you and a win for your employees, because they get on-the-go access to savings at hundreds of online and brick and mortar retailers, allowing them to amplify their disposable income.
For many organisations, this is a quick-win but high impact way of giving back to their employees - and their families - all of whom will likely welcome a monetary injection as we approach the festive season – which is often a pretty expensive time of year.
This is a creative and cost-effective way to help you boost your EVP – here are 4 reasons why:
|1. Your discounts are relevant and your people get choice|
|2. You can show employees real-time savings, with real-time reporting|
|3. You'e giving employees a gift that keeps on giving|
|4. You can showcase everything you're offering|
1. Your discounts are relevant and your people get choice
Instead of offering discounts at a handful of vendors they can’t currently use, like hotels or flight vouchers, or only providing your people time-sensitive offers, give them access to everyday, practical savings on the fundamental things like groceries and petrol. You can also lean into the services they’re definitely accessing more of during extended periods of remote work, like food delivery services, home entertainment, furniture, or sporting equipment to provide extra discounts on things that matter.
2. You show employees real-time savings, with real-time reporting
To help demonstrate the value this benefit brings and reinforce the support you’re providing your employees, show them pound-to-pound savings with real-time reports to help you demonstrate immediate impact on salaries and take-home pay.
My colleague in Australia has saved an average of $1,550 (£830) every year, and a total of $11,917 (£6,400) during his time at Reward Gateway. I know many employers who can’t offer a $1,550 bonus or pay increase for their employees, but can secure a budget for a benefits platform that gives their people that money in their pocket, and possibly even more.
3. You’re giving employees a gift that keeps on giving
Launching the programme in the lead-up to the holiday season is definitely going to help people who do a lot of Christmas shopping, but you can also make this benefit shine for different people in your business at different times of the year by tailoring your messaging.
Reward Gateway’s client success team will help you celebrate all employees who are at different stages in life, who have a vast range of interests, by spotlighting different celebrations throughout the whole year with targeted benefits communications, campaigns and competitions. All of this boosts connection once again as well as their ability to take full advantage of their savings, 365 days of the year.
4. You can showcase everything you’re offering
And finally, where you can, integrate this platform with other elements of your employee experience. Communicate all your benefits like your salary sacrifice offerings or your wellness programme in the same place to show your people all the things you’re doing to provide them support.
Reward Gateway’s platform allows you to create a one-stop shop that showcases everything that your organisation does to support, grow and retain your people throughout their employee journey.
To learn more, head to rg.co/ideas, where you’ll find dozens of resources to help you evolve your EVP and stand out as an employer who supports, attracts and retains its people by making their corner of the world a better place to work.