In working with companies to enhance their employee discount offerings, we’ve found that there is often a lot of confusion and misleading information in the realm of corporate perks.
An employee discount program is generally part of a larger work-life benefit offering included in an employee’s total compensation package. Companies who offer employee discount programs and other work-life oriented benefits seek to increase worker satisfaction, corporate loyalty, and worker retention by providing valuable benefits that go beyond a simple salary figure.
Specifically, employee discount programs grant workers access to exclusive offerings from local and regional vendors. These offerings can vary widely, including percentage discounts from the vendor, monetary reductions in price off select products, and special member access to organizations and events.
Managing An Employee Discount Program
Often times employee discount programs (or employee perks programs) are hosted and managed by the employer themselves, listing unique discounts on a corporate intranet or other internal source. However, many companies are increasingly outsourcing the management of their employee discount program to third party providers that negotiate discounts on behalf of client companies, and facilitate secure access to the program via online portals.