GiftCard Partners Blog

Employee perks don’t have to come with a big price tag. In fact, some of the most impactful benefits are either free or low-cost and they can transform workplace culture. Small investments in flexibility, recognition, and well-being show employees that they’re valued, which translates into higher engagement, retention, and productivity.

Employers are spending more on health and wellness benefits while decreasing the amount of spending on other types of benefits.  According to the Society of Human Resource Management's (SHRM) 2014 Employee Benefits report, 28% of employers have increased the benefits they have offered to employees in the last year. Employers are finding it crucial to maintain or increase key benefits in areas where costs are rising - which has mainly been healthcare and wellness. And decrease benefits like undergraduate tuition, personal car use for business purposes reimbursements, and long-term care insurance.

The competition for top talent has never been more intense—and what employees expect from their employers is changing fast. While traditional benefits like salary and healthcare still matter, today’s workers want something more: meaningful work, modern workplace culture, and personalized incentives. To attract and retain top performers, organizations must offer a comprehensive value proposition that meets employees where they are.

The infographic below offers some pretty staggering statistics on how employee loyalty is tied to benefits, and how employees are often less loyal to their organization because they are not aware of the extent of their benefits. If benefits were better communicated and employees were aware of all that their employers were offering loyalty and retention rates would be higher. The lack of communication is apparent, since employee loyalty is at a 3 year low, even as the economy recovers and companies begin hiring again. Happy employees are productive employees, so ensuring that your employees are aware of benefits from health and wellness rewards, to spot rewards like gift cards for a job well done, will result in a measurable return on investment for your business.

One of the most important challenges that employers share is undoubtedly reducing health care costs, while maintaining the perception of high healthcare value being offered to employees. But, employer and employee perspectives can be greatly skewed.