Glossary of Human Resources Management and Employee Benefit Terms
Employee discounts are special offers or perks employers provide to their employees, allowing them to purchase goods and services at a discounted rate. These discounts can range from a percentage off the regular price of products and services to exclusive access to certain deals and promotions.
Employee discounts can be offered on various products and services, including clothing, electronics, travel, entertainment, and more. By offering employee discounts, employers can
Employee discounts are special perks or benefits employers offer their employees, allowing them to purchase goods and services at discounted rates. Employee discounts can be offered on various products and services, including clothing, electronics, travel, and entertainment.
Employers offer employee discounts to provide additional benefits, improve employee satisfaction, and boost employee morale. Offering employee discounts can also help attract and retain top talent.
The specifics of how employee discounts work can vary depending on the employer and the type of discount offered. Typically, employees are given a special code or discount card that they can use to receive the discount when making purchases. Some employers may also partner with specific retailers or service providers to offer exclusive discounts to their employees.
The tax treatment of employee discounts can depend on the specifics of the discount being offered. In general, discounts that are offered to all employees and that do not exceed certain limits are not taxable. However, if discounts are offered only to select employees or if they exceed certain limits, they may be subject to taxation.
No, offering employee discounts is not a legal requirement. However, many employers choose to offer employee discounts as a way to attract and retain employees.
Offering employee discounts can benefit employers by
Employee discounts benefit employees by allowing them to purchase goods and services at discounted rates, which can help them save money and improve their financial well-being. Additionally, employee discounts can improve employee satisfaction and morale, which can lead to improved job performance and career advancement opportunities.
These are short surveys that can be sent frequently to check what your employees think about an issue quickly. The survey comprises fewer questions (not more than 10) to get the information quickly. These can be administered at regular intervals (monthly/weekly/quarterly).
Having periodic, hour-long meetings for an informal chat with every team member is an excellent way to get a true sense of what’s happening with them. Since it is a safe and private conversation, it helps you get better details about an issue.
eNPS (employee Net Promoter score) is one of the simplest yet effective ways to assess your employee's opinion of your company. It includes one intriguing question that gauges loyalty. An example of eNPS questions include: How likely are you to recommend our company to others? Employees respond to the eNPS survey on a scale of 1-10, where 10 denotes they are ‘highly likely’ to recommend the company and 1 signifies they are ‘highly unlikely’ to recommend it.
Starting an employee discount program can help you attract and retain top talent, boost employee morale, and improve overall job satisfaction. Here are some steps you can follow to start an employee discount program:
Here are a few examples of brands that use employee discount programs: