Now is the time for companies to take care of their employees’ mental wellbeing. In turn, a bevy of workplace benefit providers have cropped up to help enrich their palettes. Among these, the best choices often include Pluxee, Access Engage, Reward Gateway and Perkbox Vivup. They all provide award-winning, innovative programs that have increased employees’ health, increased financial savings and increased quality of life. These benefits – from improved access to fitness classes, discounted gym memberships and fitness apps to salary sacrifice schemes for technology and bicycles – save staff money while incentivising healthy behaviours.
Pluxee truly shines with its robust catalog of savings on more than 3,000 gyms, boot camps, and digital fitness classes. This convenient service helps employees make their physical well-being a priority while saving a substantial amount at the same time. Our corporate wellness partner Access Engage significantly improves this offering with their corporate wellness platform Wellhub. For the price of a large cappuccino—approximately £7/month—you can get memberships to gyms, studios, and wellness apps. This increased emphasis on fitness comes at a time when employers are looking to create a more healthy, productive workforce.
Beyond the health benefits, these providers provide a number of financial incentives that can greatly cut down on living expenses for employees. Pluxee introduces a thrilling new world of savings with up to 15% cashback at more than 80 retailers! Plus save up to 20% off holidays and special doggie treats too! Such initiatives enable workers to make their limited dollars go further while reaping the rewards of having a job.
Understanding Salary Sacrifice
The most impactful financial intervention available through employers is a salary sacrifice scheme. This means employees can purchase pensions, bicycles and other employee benefits before their tax and national insurance deductions. Tom Selby explains the advantages:
“You get immediate tax relief and pay less NI. Some employers pass on their own NI savings to boost your pot further.”
This program not only allows employees to save more of their money, but saves them from themselves by motivating employees to invest in their long-term financial health. The pension salary sacrifice also gives younger staff the chance to build up substantial pots of retirement cash. Take the example of a 22-year-old on £24,000 a year who will have almost £468,064 at 67 by paying only 8% of their salary.
The arguments for cycle to work have changed dramatically. It now covers e-bikes and even high-end bicycles, with no limit on price! Through their employer, employees can get access to bikes and cycling gear paid for by their employer over monthly salary sacrifice contributions. A win-win, this program encourages healthy, sustainable commuting practices and delivers financial savings at the same time.
Managing Commuting Costs
Commuting is often one of the largest costs for many workers, especially for those living in cities. An annual zone 1–4 London travel card is £2,568 per year. Beware that if you choose the monthly payment option, you’ll pay more than $95 for the entire year. Catherine Bennett highlights the practicality of employer-offered season ticket loans:
“Commuters often stick to more expensive short-term tickets because they can’t afford the upfront cost of an annual pass. If your employer offers a season ticket loan, you can spread the cost monthly while still getting the full-year discount.”
This popular benefit helps to remove the financial burden for employees. It enhances the daily commuting routine that increases productivity.
Additional Support Through Benefits Providers
Employers such as Pluxee and Access Engage offer financial wellness benefits. At the same time, Perkbox Vivup supports employees with every aspect of their lives. As an example, Perkbox Vivup provides services and solutions connecting directly to living better, working better and feeling better. This means connectivity drivers to childcare, senior care, and pet care networks. Dedicated specialist helplines offer instant support for the different issues workers might encounter.
This makes Perkbox Vivup our newest provider! Today, UK council employees can save with more than 800 discounts, demonstrating the amazing savings value that can be offered via these platforms. Other discounts include £280 worth of savings on grocery shopping and 32% off cinema tickets, supercharging employees’ financial wellbeing.
Moreover, protection insurance options available through providers like Protection Review can provide peace of mind for employees facing unexpected circumstances. Kevin Carr emphasizes the advantage of obtaining insurance through work:
“One of the main advantages of getting insurance through work is that there’s often minimal underwriting.”
He goes into detail on why insurers typically consider employed people to be healthy. This enables a faster, simpler process, no more time-consuming forms and medical examinations. He warns that continuing personal policies in addition to work coverage is prudent because of the likelihood of changing jobs.