An employee benefits scheme is a great way to attract talent and to keep staff motivated. Company review site Glassdoor reports that nearly 80% of employees would choose a good benefits package over a pay rise, with 60% considering benefits a major factor in whether they would accept a job offer.
The hottest places to work tout chef-made lunches, massages, yoga classes and holiday reimbursement, but there’s no need to break the bank: a company benefits scheme can start from as little as £1 per employee per week. Today we’ve rounded up ten of the most innovative employee benefits and employee discount schemes your staff will actually want. Read on to find out more about the range of different employee benefits UK providers have to offer!
Equipsme offer affordable health insurance solutions for any business with more than 2 people.
Starting from £7 per person, per month, customers get access to physio sessions, 24/7 GP access, online health checks and more.
Health insurance has been proven to be one of the most successful employee benefits scheme to date. By giving staff faster access to private health care, they can improve physical and mental wellness which results in happier staff and increased productivity. Equipsme is also one of the better priced schemes available.
Partnered with AXA PPP healthcare, there is no excess required (for basic level) and no medicals. Companies can upgrade to levels 1,2 and 3 to include extra or unlimited physio sessions, diagnostic tests, dental and optical and stress therapy. A major benefit is that you can add up to 5 children to the policy for half price. All of this makes Equipsme a superb employee benefits uk provider, helping to take care of their staffs’ physical and mental health.
Perkbox combines perks, recognition, wellness, feedback and communication for an all-inclusive employee benefits platform.
Employers can shout out staff who have gone the extra mile, set up awards for company values and purchase rewards that employees will actually want. Daily perks include affordable fitness, entertainment and shopping, along with a few freebies for good measure.
Perkbox’s platform also includes engagement surveys and fast-tracked NHS appointments – two features that tie in nicely with your company’s existing HR system.
Caboodle’s Salary Extras platform offers a wide range of employee benefits uk workers will love, all of which can be customised to your company’s needs.
Standard packages include financial wellbeing, health, transport and shopping discounts; existing benefits schemes tie into the platform. For extra motivation, there’s functionality to send employee awards, rewards and peer-to-peer recognition.
The Flex Benefits scheme offers even more freedom by letting employees decide how to spend their allowance.
Pricing is bespoke; visit Caboodle’s site for a quote.
Want to feature your company?
Medicash offers health cash plans that give employees an allowance for healthcare not covered by the NHS. Most plans via this employee benefits scheme cover employees’ children, and bespoke and flexible plans are also available.
Medicash Plus includes dental, optical, private GPs, prescriptions, complementary therapies and specialist consultations, with three levels of payment.
Pricing starts from 95p per person, per week for Medicash Plus or £1 per person, per week for Medicash Proactive.
Here’s something a little different – putting a twist on the typical employee benefits platform is EdAid, using employer contributions to pay off employees’ student loan debt. The Financial Times predicts that two-thirds of recent British graduates will never pay off their entire student loan, so why not lend a hand?
When companies join the Paydown scheme, staff who are currently making repayments to the Student Loans Company through payroll deduction can sign up to have their repayments – or a portion of them – paid by their employer instead.
Employees with non-UK student debt can enrol, too, no matter their nationality or school.
Contributions start from £50 per month; as an employer, you’ll also pay a 5% processing fee.
Each Person is a Community Interest Company that helps employers to recognise the work of their staff.
The Each Person employee benefits platform lets you send recognition to colleagues through ecards; you can choose to attach epoints as a reward. Employees can spend points on products, vouchers and experiences from thousands of brands and earn more through shopping and playing games.
100% of the money you invest into Each Person goes back to rewarding your employees; there are no service or setup fees and the system is free to run.
Bonusly is a staff recognition platform where points add up to rewards. Everyone in the company, no matter their rank, can recognise an employee for their achievements.
Recognition can be tied to hashtags for specific company values, and it’s simple to personalise messages with images, GIFs, links and emoji. Every member has a monthly points allowance to give out, and points received can be spent on gift cards for popular brands including Amazon, Steam, PayPal, Whole Foods and Starbucks. While it’s an American company, the system works globally – so it’s a great fit if you have staff in several countries.
It’s also possible to tie in referral bonuses, sales incentives and wellness awards if you spring for the Bonusly Pro package which will run you £3.04 per user, per month.
Neyber is a financial wellbeing benefit that costs companies nothing and offers employee benefits uk workers value, including financial advice, affordable loans, savings and investments.
Loans are salary-deducted, so Neyber is able to offer lower interest rates than other lenders. The company is regulated by the Financial Conduct Authority, so there’s no financial risk for employers.
Neyber is free and designed to slot seamlessly into your payroll system.
Reward Gateway helps to improve employee engagement and retention through recognition, perks and rewards. The platform includes internal messaging and eCards congratulating colleagues on a job well done. Salary sacrifice and discounts are both present, and there’s an emphasis on employee wellbeing.
Pricing from £6 per employee, per month.
ArtsCard is a newcomer to the employee benefits scene and the first of its kind to focus on culture and the arts. Membership gives your employees discounts and value-added experiences in events, screenings, workshops and courses. Partners so far include BFI Film, Tate, National Theatre and the Science Museum; while venues are fairly London-centric, there are a few further afield.
ArtsCard is currently under review, with more information available on request.
What Type of Employee Benefits Scheme Should I Choose?
An employee benefits scheme is a great investment to consider, not only rewarding your staff for their loyalty and hard work, but furthermore helping to increase staff retention and potentially attract new talent.
Employee benefits schemes can offer a diverse mix of different perks. In addition to the variety in benefits available, the structure of such schemes can also vary – from core packages to voluntary benefits, salary sacrifice and more, there’s a whole host of different ways for your business to opt for such schemes.
Before choosing a scheme, it’s important to consider what types of perks your workforce would benefit from, and therefore appreciate, the most. This can be done both by looking at the common features your workforce comprises of – age, whether they’re parents of young children, shared interests related to the job etc. – however, asking employees directly can be an easier way to establish the wants and needs of your workforce, and tailor your employee benefits scheme to this.
How Do Employee Discount Schemes Attract New Talent?
Businesses everywhere are in fierce competition to attract the best talent, many offering stunning offices in great locations, high salaries, and schemes to help improve employee wellbeing.
Whilst much of these schemes focus on improving the health and wellbeing of staff members through gym memberships, healthy foods in the cafeteria, and supportive mental health aids, others also offer treats and discounts to lift employees’ spirits.
Many businesses therefore invest in employee discount schemes, boosting the company’s image and making it look more attractive to talented professionals/potential new employees.
Employee discount schemes not only attract new talent into the business, they can also help to retain existing staff members, making them feel valued by offering discounts and rewards for working at the company.
How Do Employers Benefit From Employee Discount Schemes?
Employers benefit from employee discount schemes in many different ways. As previously mentioned, they can help to attract new talent whilst retaining existing ones, all of which can help to improve the way the business is run.
By offering rewards and benefits, companies can strengthen their relationship with employees, not only leading to increased loyalty and staff retention, but further strengthening the employer/employee relationship. This can lead to increased productivity, and employees taking more pride in their work.
Additionally, offering employee discount schemes can also help to boost the reputation of a company, showing that it cares for its employees and rewards them for working hard. Promoting the business’s reputation can also help to attract clients, further increasing the overall productivity of the company.
What Are the Best Employee Discount Schemes for My Business?
The best employee discount schemes will depend on the type of business you run as well as your employees’ preferences. As listed above, there’s a whole host of different benefits and employee discount schemes out there, meaning there’s loads of options to explore before settling on one that’s right for you.
For example, if the majority of your employees are graduates, they may benefit from the EdAid Paydown scheme mentioned previously, helping staff members to further along their repayments to the Student Loans Company.
One key thing to consider when deciding on employee discount schemes is the cost of this, and whether it will fit into the business’s budget. Employee benefits and discounts can be a great investment for companies, however they are only ever beneficial when the businesses can comfortably afford them.
Before deciding on your business’s employee discount schemes, it’s best to first go through the finances of it, and set a cost limit which will help to filter your search.
What Are the Best UK Employee Discounts?
It’s difficult to not be subjective when exploring the best UK employee discounts. People are different, and hold varying, often unique, likes and tastes.
People’s preferences for employee discounts are no exception to this, some enjoying discounts to artistic events, whilst others appreciate discounts on food or clothing more.
Whilst above details our list of the top 10 UK employee discounts and benefits schemes, there are a variety of other discount-based perks offered by businesses up and down the UK. For example, employees to some of the most well-known companies in the country claim to have been offered the following:
- Lush – 50% UK employee discounts.
- Greggs – 50% UK employee discounts.
- Harrods up to 33% UK employee discounts.
With employee wellbeing becoming increasingly recognised as an important and beneficial factor in business – promoting both employee retention as well as productivity – employee discounts are becoming a must-have to provide alongside job offers.