You've most likely heard the term candidate-driven job market thrown about recently. Essentially, a combination of recovery from the Great Recession of 2008 and an increasing reliance on employees with specific skills has put the negotiating power back into the hands of the job seeker. Employees aren't going to be knocking down your door begging for work anymore, especially in industries in need of skilled labor, so it's up to you to figure out how to attract and retain good employees. One way to do this is by offering a robust and unique benefits package, and one thing that can really set your business apart is an employee purchasing program.
The Basics of Employee Purchasing Programs
An employee purchasing program is a voluntary benefit option that allows your employees to buy products and services and pay over time interest-free, generally through payroll deductions. Financial stress is the number one issue facing employees today, and stress impacts productivity. An employee purchasing program gives employees a greater degree of financial flexibility and as such can be considered a way to increase employee wellness.
A good employee purchasing program will provide access to brand-name products including:
- Electronics
- Fitness equipment
- Furniture and appliances
- Baby products
In addition, many employee purchasing programs also provide access to helpful services such as automotive repairs and tutoring for their children. To sum it up, an employee purchasing program gives your workers stress-free access to products and services that help them and their family.
How Employee Purchasing Programs Help Your Business
A competitive benefits package is the best tool in your arsenal when it comes to attracting, engaging and ultimately retaining your employees. Employee purchasing programs and other voluntary benefits have proven to be popular among employees because it gives them the power to tailor their benefits package to their needs, and all of this comes at a low cost to you. An employee purchasing program is not necessarily common or traditional, but it's not just a novelty either, it provides your employees with real, tangible benefits
Employee purchasing programs are a low-cost way for you to add to your benefits package and differentiate yourself from other employers. At Summerlin-Roberts we know there's no one-size-fits-all solution to employee benefits and strive to provide you with unique, flexible, and affordable benefits options such as employee purchasing programs. To learn more about how you can add employee purchasing program to your benefits package contact us at Summerlin-Roberts today.
