How Corporate Discount Programs Boost Morale and Employee Engagement

Successful companies seek to boost team member morale and employee engagement. Low morale is costly for companies. When teams have morale issues, members are often absent and less engaged at work, which affects productivity. On the other hand, when morale is high, employees are engaged, which increases productivity, creativity, and employee retention.

Employee discount programs offer memberships to corporations. Corporations that join the program can then offer their employees discounts on goods and services. Discounts are on various services, including financial, travel, recreational, and wellness. Lifestyle discounts are an added benefit you can offer your team members, often at no cost to the company.

Employee Engagement and Morale

Employee engagement is the enthusiasm and passion team members have for their work. You can enhance employee engagement by demonstrating that you care about your team members -- both inside and outside the office.

Strategies to Enhance Employee Engagement

One way to increase employee engagement is to encourage connections between management and employees and employees and each other. You can accomplish this through:

• Clear communication
• Frequent communication
• Supportive management
• Providing opportunities for development, training, and advancement
• Building mutual trust
• Ensuring an inclusive work environment where all people are valued
• Focusing on team building by giving teams autonomy and rewarding the whole team when goals are met

Corporate discount programs can help employees realize that management supports them. Many programs offer discounts on services such as tax preparation, legal services, and credit monitoring. They can also provide discounts on flights, hotels, and tickets to concerts and sporting events. Many programs also offer rewards that team members can use for personalized experiences. Using these programs to recognize the whole team promotes teamwork and collaboration.

Another strategy for boosting engagement is focusing on the employee's well-being. Employees have difficulty concentrating if they are struggling outside of work. A comprehensive benefits package can allay basic concerns like health care, retirement savings, and time off. Employers can also provide programs that help employees meet additional challenges, such as child care, elder care, smoking cessation, weight management, and financial well-being.

Employee Benefits and Incentives

While salary is important, benefits packages are increasingly important in attracting and retaining employees. Most employers offer basic benefits such as health care, paid time off, and a retirement plan. However, most competitive employers go beyond basic benefits to attract and retain employees. Jobseekers particularly value professional development opportunities, work-life balance, and wellness programs. Employers who offer comprehensive benefits, incentives, and other perks will have the best shot at recruiting and retaining top talent.

Employee Discounts as Valuable Perks

Employee discount programs are one way to help employers meet challenges outside of work. They can make the difference between an employee being able to afford to pay for care for their aging parent or quitting work to do so themselves, for example. They can also help employees afford a dream family vacation or a major household purchase. They can help families stick to their budgets by providing discounts on everyday items or wholesale club memberships. Discount programs coupled with loyalty rewards can extend savings.

Boosting Productivity through Reward Systems

Smart companies boost productivity and encourage teamwork through rewards and discount programs. In these programs, employees receive loyalty points when they book experiences through the discount program portal. Companies can also give loyalty points as a form of recognition. Employees then use the loyalty points for the experiences they choose.

Employee Recognition and Appreciation

Employees want management to mark their achievements, and employees who feel supported are more likely to stay with the company. The most effective employee recognition programs honor employees or teams as soon as they achieve a milestone and are specifically tied to achieving the goal. Common examples of reward or recognition programs include:

• Years of service
• Employee of the Month
• Peer-to-peer recognition, where employees nominate their peers
• Bonuses for exceptional performance
• Team awards

Creating a Culture of Employee Perks and Benefits

Companies that regularly reward achievements create a culture of appreciation. The culture becomes more ingrained if peers are encouraged to nominate each other for recognition. A culture of rewards and recognition is vital to improving productivity, recruitment, retention, and, ultimately, profits.

Employee morale and engagement are key drivers for organizational success. Happy and engaged employees will stay with the company longer, produce better, and be more creative. You can improve morale and engagement by providing excellent comprehensive benefits packages and employee recognition programs.

Corporate discount programs can enhance your benefits package by offering budget-friendly tax prep, credit monitoring, and legal services. They can also expand your health benefits by offering discounts on gym memberships, dance classes, or stress management services. Finally, they can help employees stick to their budgets and save money.
Corporate discount programs also can be the key to an effective employee recognition program. They let your company easily provide gift certificates that employees can use to create custom experiences, such as trips, concerts, or sports events.

Working Advantage provides a comprehensive membership-based corporate discount program. Want to enhance your employee experience? Join over 40,000 companies using the largest corporate discount program in the world and sign up for Working Advantage.