How Employers Support Employee Wellbeing With Lifestyle Discounts

Today’s employees care more than ever about work-life balance and how the workplace impacts their physical and mental health.

Yet, according to recent research, about a third of employees and executives say they struggle constantly with exhaustion, stress, loneliness, and/or depression. And most C-suite executives significantly underestimate just how much their employees are struggling with their physical and mental health.

In the same study, 91% of employees have personal goals for their well-being, and a majority say well-being is more important than their careers! One thing is clear: old school rat race tactics aren’t the workplace motivator that they used to be.

Gen Z and Millennials, especially, aren’t willing to burn themselves out just to climb the corporate ladder. Instead, they’re looking for thoughtful, supportive employers with something more holistic to offer.

Unfortunately, uncertain economic times can make it challenging to offer your employees everything they ask for. However, there are ways to support them in their physical and mental health goals that won’t squeeze your budget.

Understanding Lifestyle Discounts as Employee Perks

A lifestyle discount is a type of employee benefit that goes beyond standard salary arrangements or healthcare coverage. Employees can use these discounts on a range of goods and services, from groceries to gym memberships to professional development classes.

The Three Core Dimensions of Employee Wellness

Employee wellness isn’t just about participating in the 10,000-step challenge and calling it a day. It’s a multidimensional approach with three core pillars:

Financial Wellness

Costs are rising, and workers are struggling to pay their bills and put food on the table. It’s not just the price of eggs; it’s utilities, rent, and other necessary expenses. According to a recent survey, nearly three-quarters of American workers say they struggle to afford anything beyond basic living expenses.

Nearly a quarter say it’s a fight to afford even essential items, and the resulting financial stress can contribute to depression and other mental health issues. Bottom line? Most employees aren’t trying to live a lavish lifestyle; they’re struggling to make ends meet.

Lifestyle discount programs can give employees a leg up on everyday expenses and necessary services, so they can focus on budgeting and saving. Most importantly, they give them peace of mind and take some of that financial pressure off.

Mental Wellness

Most human resources teams will tell you that stressed, anxious employees are less engaged, less productive, and more likely to make bad decisions in the workplace. Stress and anxiety can lead to low morale, increased lateness and absences, lower-quality work, and higher staff turnover.

Mental unwellness is also a major contributor to employee burnout, where employees become distant, disengaged, and both physically and emotionally exhausted. Leaders need to stop these negative processes before employee engagement tanks and the company culture suffers.

While your benefits program may already cover mental health resources, it might not be comprehensive enough. Employee discount programs can provide crucial access to additional mental health workplace resources, like therapy services and meditation apps.

They also lower the cost of recuperative elements like travel and wellness retreats. Employees who take meaningful time off work are happier, more committed, and more productive employees.

Physical Wellness

Physical health is the foundation for almost everything else in a person’s life. No matter how much therapy or meditation they do, your employees can’t be productive if their bodies are breaking down. Activity is foundational to their mental and physiological health and a crucial third component of employee well-being.

Yet, less than half of Americans meet the CDC guidelines for physical activity. Of those who do, only about half do any kind of strength training.

Corporate wellness solutions can be a significant way to increase employees’ physical activity. Employees can use them to access more affordable gym memberships, take fitness classes, and make it part of their routine. Wearable tech discounts can help them understand their heart rates, calorie expenditure, and other important health metrics. Overall, cost-effective wellness initiatives make it easier for employees to exercise with less stress on your budget and theirs.

How Small Businesses Can Offer Big-Benefit Wellness Programs

While large enterprises usually have no trouble meeting employee well-being needs, smaller teams with limited HR budgets can struggle to make it work. If your company doesn’t have the time or resources to implement a comprehensive employee wellness program, consider a turnkey solution for small business wellness programs.

Choosing the Right Employee Discount Platform

What to Look for in a Wellness-Focused Discount Provider

To find the right discount provider for your company, consider what your employees would want in a perks program. A good program should be accessible to all of your employees, regardless of their different interests, and customizable to their needs. Look for the one that offers the steepest discounts with the lowest investment from you.

The Working Advantage Difference

The Working Advantage employee discount platform helps businesses of all sizes deliver impactful employee perks. As the largest corporate discount program in the world, it offers your team members access to special discounts from the best and biggest brands. Over 40,000 employers and 50 million employees rely on Working Advantage for access to appliances, electronics, groceries, fitness memberships, car rentals, and more.

Conclusion

Employee lifestyle discount programs are an easy and cost-effective way to support your financial, mental, and physical well-being. They’re one of the simplest types of workplace wellness programs to implement, and one of the most vital.
If you’re considering corporate wellness solutions, utilizing Working Advantage to establish an employee perks program is a smart, scalable approach to boosting your employees' happiness, productivity, and overall well-being. Register today to learn more.