Employee Benefits

Employee benefits is what we do. Discover the difference that a responsive, integrated and bespoke reward, recognition and wellbeing platform can make to your people.

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Creating Learning Opportunities

Learning within the workplace is something that may slow down the more comfortable an employee gets in their role. While it’s great when staff are competent in their jobs, growth and development are a large part of both the career journey, and personal improvement. In fact, 4 in 5 people in the UK say learning adds purpose to their work, demonstrating a clear need for sufficient learning opportunities in the workplace.

So we’ve established that learning at work is important, but how to go about implementing more education and skills-building for your team

Training Across Departments

Having a broader understanding of the work across departments may be useful in terms of employees understanding how they and their colleagues fit together amongst the organisation, as well as creating a more diversely skilled workforce who may be able to aid and support during departmental shortages. And if that isn’t reason enough, 7 in 10 of people in the UK say that learning improves their sense of connection to an organisation, so investing in learning is investing in loyal employees and a positive Employee Value Proposition

Discounted Courses

Having access to courses that are desirable but perhaps out of their price range can help to remove a barrier to learning an exciting new skill. Offering discounted courses could enable your staff to pick up on valuable skills, from learning a new language, to getting a drivers licence. These skills could come in handy or be relevant for the job role, or they could just contribute to a greater sense of fulfilment in the employee.

Soft and Hard Skills 

There are perks to having a set of both soft skills and hard skills. While hard skills may be regarded as highly valuable in a professional setting or a requirement for the job even, this doesn’t mean that we should dismiss soft skills! For example, employees could be brushing up on their communication skills with the goal of ultimately ending up in management positions. My Staff Shop even offers discounted leadership training, so staff can learn how to work their way up to more senior roles.

Offering Up Beneficial Training

Learning opportunities can come in a variety of shapes and sizes, and why not invest in transferable skills that could come in handy at any point? For example, it may be worth offering up First Aid courses or Mental Health Awareness training to your workforce. 

You never know when this training may aid employees in the workplace, or out of it.

Artificial Intelligence 

As much as many people may fear Artificial Intelligence, or debate its ethical implications, it’s undeniable that AI is entering (or in most cases, has already entered) most aspects of daily life. The best way to prepare employees for the increase of AI in the workplace, and enable them to use the tools to their advantage, is to educate them.

Taking the time to teach your staff about AI, can help to reduce misinformation, understand what it looks like and even show staff how AI tools can be helpful. The best way to be prepared is to be informed!

Interested in how My Staff Shop can offer your employees Learning Opportunities? Contact our friendly team today.

 

Two people clasping hands in sympathy

Nurturing Minds: Prioritising mental health awareness in the workplace

This week is Mental Health Awareness Week in the UK, and it presents HR with a means of opening up the conversation, providing advice and signposting people towards relevant resources and helps break the stigma of mental health at work.

It might seem that we are always talking about this subject, but the reality is, it IS a problem. In fact, 1 in 6 people experience mental health problems in the workplace and women in full-time employment are nearly twice as likely to have a common mental health problem as full-time employed men. In fact, poor mental health accounts for more than half of all work-related illnesses. But why is mental health so hard to manage especially while we so diligently attend to our physical health?

A recent report from Personnel Today found that almost half of UK workers are ‘running on empty,’ with burnout, mental ill health, and work-related stress now costing the economy £28 billion annually. The Mental Health Foundation Association has also found that a third of managers feel out of their depth supporting their team with mental health concerns, which begs the question; so if there is no education, how can employees expect to open up to their bosses?

There are lots of ways that HR can help cultivate a supportive environment for everyone.

1. Facts speak for themselves
Did you know that approximately 1 in 5 adults in the UK experiences mental illness in a given year? It is not a niche issue; it’s something many of us grapple with daily and the workplace is no exception. Research suggests that work-related stress contributes to 120,000 deaths annually and accounts for up to £190 billion in healthcare costs.

2. Breaking the stigma, one conversation at a time
Remember the days when discussing mental health at work was a rarity? Times have thankfully changed. We are starting to normalise conversations around mental health but more encouragement is needed. Open dialogue helps reduce the stigma and fosters a culture of support and understanding. After all, we spend a significant chunk of our lives at work, so why not make it a safe space to talk about our mental wellbeing?

3. Putting words into action: Practical steps for a healthier workplace
So, how do we walk the talk? Start by implementing mental health initiatives like flexible work arrangements to alleviate some of the pressure for workers with family or care commitments, employee assistance programmes (EAPs) to get practical support from trained professionals provided by your employer, mindfulness workshops where employees can learn . Foster a culture of empathy and understanding where team members feel comfortable seeking support when needed. And let’s not forget about self-care! Encourage breaks, promote work-life balance, and lead by example. Remember, a happy and mentally healthy workforce is a productive one.

This Mental Health Awareness Week, why don’t you pledge to do more to raise awareness, break down barriers, and take proactive steps towards making your workplace more inclusive for those who suffer with mental health issues.

If you would like to find out more about health and wellbeing benefits, and our EAP, then fill in the form and we will be in touch.

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How to boost productivity in the workplace

The UK workplace has undergone something of an evolution in the past five years. We have several new working practices that are becoming the norm, and as such, maintaining productivity can be a challenge for even the most experienced HR teams. Various socio-economic factors have played a part; from lack of investment in UK businesses, staff cuts, and the never ending cost of living crisis, to ongoing wars in Palestine and Ukraine.

In addition, we are now seeing up to five generations working together, all of which means that the world of employment has never been so diverse. While this can have great benefits for skills and knowledge sharing, it does, however, come with its challenges. There are things that HR can do to mitigate low morale, work-related stress and encourage greater productivity in its people.

Provide an Employee Assistance Programme (EAP) to support workers

External stressors can take a toll on employee wellbeing and productivity but an EAP can offer vital support for managing stress and mental health issues. By offering confidential counselling services and resources, employees can address personal challenges, leading to improved focus and productivity at work.

Optimising workspaces

With hybrid becoming more commonplace, and remote working a viable option for many, having the correct set up for productive output is crucial. HR should be able to provide the right environment and tools for people to do their jobs effectively, so they can focus, collaborate and feel part of the team. This extends to having the appropriate amenities and ergonomic furniture.

For remote workers, creating a designated workspace free from distractions is essential for maintaining productivity levels. HR should be adhering to WFH policies, which include Health and Safety training for staff. This will help them to feel that their needs are being met as well as their safety and wellbeing.

Incentives and benefits to motivate

Motivated employees are more likely to perform at their best so offering incentives and employee benefits can boost morale and productivity. From flexible working arrangements and wellness programmes to performance bonuses and professional development opportunities, the investment is certainly worth it, and what’s more, it helps to foster a culture of engagement and high performance.

Encouraging feedback and providing recognition

A recognition solution and effective feedback systems are not just a nice-to-haves but can really help improve productivity. They can assist in identifying and addressing productivity barriers and encourage employees to provide feedback on processes, systems, and workloads. Are there inefficiencies that could be streamlined? Are workloads realistic and manageable? By actively seeking input from staff, employers can implement positive changes that enhance productivity and job satisfaction.

Similarly, showing appreciation and providing a means for employees to share their wins, mark their milestones and remind each other of a simple job well done, can boost productivity and unite employees in a culture of recognition, where they feel a sense of belonging to the organisation.

Productivity wins should always be celebrated, encouraged and communicated so having a solution in place to facilitate this offers a means of helping employers provide a better EVP – and, most importantly, improve employee output.


Explore how My Staff Shop can help you build a productivity strategy with our tailored benefits to support employees in the workplace and out. Just fill in the form and we will be in touch.

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Combatting High Staff Turnover: Strategies for Workplace Retention

Retention is one of the primary focuses for HR and high staff turnover can be a significant challenge for any organisation. Not only does it lead to increased recruitment costs and a loss of productivity, but it can really disrupt team dynamics – and that is never good for business. A recent study from Work Buzz stated that 89% of respondents believe that the retention conundrum was either getting more difficult, or not changing. That said, addressing it requires proactive measures and a focus on employee satisfaction and retention strategies.

One effective approach to combatting high staff turnover is to find out what your people think and feel about the organisation. Regularly undertaking employee satisfaction surveys can unearth the reasons behind an increased employee turnover. This can then help HR to tailor its strategies to improve the employee experience and, hopefully, encourage people to stay in the organisation. For example, a recent study by Gallup found that organisations with engaged employees experience 59% less turnover. So what can HR do to move the needle and improve those all-important retention rates?

Schedule one-to-one check-ins

Regular one-to-one check-ins with employees are critical to keep on top of any concerns they might have, and identify issues before they fester and escalate. This fosters a general sense of open communication in the workplace and helps to nurture a sense of trust and belonging – critical factors in a positive workplace culture.

Refresh (or introduce!) employee benefits

It goes without saying that if a person feels valued then they are more likely to stay in their job, especially if they receive employee perks and benefits. A report from HR Executive found that over half (54%) of companies have not expanded their employee benefits offering in the last 12 months or more. Another study by Glassdoor found that 60% of job seekers listed benefits and perks among their top considerations before accepting a job offer.

Offering a revamped package to include things like discounts and savings is a simple way to provide financial support that doesn’t require offering huge bonuses or pay rises. Being able to provide things like a curated wellbeing package to support their health, or offer health insurance should they end up unwell and unable to work are affordable, easy to implement options that will help improve the company’s Employee Value Proposition (EVP) and bolster retention efforts.

Be more flexible

Flexibility in work arrangements, such as hybrid or remote working options, is a great way to cater to employees’ need to strike a better work/life balance. A Buffer study found that 99% of employees would like to work remotely at least some of the time so by offering flexible work arrangements, employers are able to respond to the diverse demands of a modern workforce – thus enhancing job satisfaction, and reducing attrition.

Provide learning opportunities

The same Buffer study also revealed that 74% of remote workers define career growth as opportunities to learn a new skill, which means putting opportunities in place for employees to boost skills, will help retain them too. This doesn’t have to be complicated either. Mentoring and reverse mentoring, skill-sharing and other L&D opportunities can be timetabled into the working day, supported by managers. This type of learning culture is something cited by employees time and again as being important.
While the reasons for poor retention can be nuanced, these measures can help to create a more attractive work environment for potential employees while showing your existing workforce that they are valued. Prioritising employee satisfaction, being flexible in your approach to working hours and geographical locations, providing space and time for learning, and fine-tuning your benefits package will only help to make your organisation a happier, more engaged, thriving and sustainable workplace.

If it is time to re-examine your employee benefits solution, simply fill in the contact form and one of our team will be in touch to discuss how we can help you improve your own EVP.

 

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How to get employees to engage

Feeling a general lack of energy in the workplace? This isn’t surprising, given that employee engagement fell to just 23% in the UK last year. Getting employees engaged can often be a challenge, as ebbs and flows of motivation is common. Sometimes it’s the time of year, sometimes personal issues, and there are times when workplace dissatisfaction can creep in. There are plenty of reasons that this could be the case, so getting down to the root issue, addressing it, and fixing it is the best way to revitalise employee engagement and enthusiasm.

Fear not! Act before it’s too late and you can keep a hold of your top talent.

Feedback

Employee engagement surveys. It sounds obvious and most companies utilise them at some point, but are you asking the right questions? Providing true anonymity so people can express themselves uninhibited by worries of getting in trouble? When you give people an opportunity to discuss their point of view and improvements they would like to see, you may be getting a new perspective or seeing something that was missed.

Or if this doesn’t feel like the right approach for your company (perhaps you are a smaller team?), then you can always organise a roundtable to allow your people to verbalise their experience. There’s no one right way to do feedback, but empowering your staff through their voices will be appreciated. And it doesn’t top there. Once you’ve received your feedback, take action where it’s necessary, and communicate the changes to see employees that feel heard.

Decision making

Feeling listened to and valued for your opinion can take many forms. For example, by being involved with decisions that occur in the company, employees feel the importance of their role. And from this, staff are more likely to care about the work they’re doing. Be it key business decisions, working methods, or tasks, having a say in their work is empowering, and therefore motivating.

The more involved, the more engaged!

Opportunities

On that note, involving employees with opportunities and events that can help with career growth is a big motivator. Whether it’s conferences, work trips, or networking, offering staff the chance to see a different aspect of their industry with a change of pace can be both refreshing and inspiring. And of course, can be valuable to the employee and company alike.

Rewards

If we are discussing engaged, motivated staff, rewards have to be a priority. Salary, location, workplace culture, and the job role may be some of the most significant factors in hiring and retaining employees, but there are other considerations too. For example, while salary is obviously a huge part of why people take/keep jobs, the benefits that are offered could make all the difference. In a day and age where people are more willing to change jobs if they are unhappy, securing committed, happy employees is largely down to what you offer as a company.

Employee rewards should be valued, useful, and flexible. Having more than just a ‘thank you for working hard’ (although that is always nice), goes a long way in ensuring that employees feel that their work is not only compensated, but appreciated. Incorporating discounts, an Employee Assistance Programme, Learning and Development, and Salary Sacrifice are amongst the benefits that you can provide.

Socials

We know, ‘enforced fun’ can do the opposite and put people off, so it’s all about finding the right vibe for your workplace. If you have a larger company it may be necessary to split this into departments so employees can actually mingle and spend time with their team outside of work. The key thing is ensuring that the activity or social is something that people want to do. You could opt for crazy golf, Escape Rooms, trying out a new restaurant in your area, or walking tour if you’re in a town or city.

Making sure everyone can get involved is hugely important when it comes to work socials. By offering up a variety of social events that include alcohol-free options, restaurants that cater to different dietary requirements, and accessible/suitable spaces for your team is a good start. Struggling for inspiration? Try a suggestion box!

Breaks

Burnout can quell the enthusiasm of even the most motivated employees. If employees feel overworked, it’s unlikely they’re going to be excited and passionate about what they’re doing. Ensuring that staff are getting enough down time, screen breaks from computers, physical rests from manual work, and being able to enjoy their leisure time without worrying about work is significant for work-life balance, and ultimately employee engagement.

Flexibility

Offering more freedoms and flexibility to employees shows that you not only trust their time management, but value their personal lives. If it is possible to offer up hybrid working or working from home, would this be a better fit for some of your staff? Happy staff are usually engaged staff, so perhaps it could help to reevaluate the flexibility of your working model.

Ready to take the next steps to boost your employee engagement? Book a free demo to see our Employee Benefits Platform.

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Prevent the poorly! How to reduce levels of absenteeism in the workplace

There’s no doubt that absenteeism is on the rise, with AccessPeopleHR reporting a 55% increase in sickness absence rates since 2019. So are people all getting sicker, is the pandemic to blame, or is there more nuance to the issue? 

While illness among staff is an unfortunate inevitability, empowering your people to prioritise their health and preventing stress can help to minimise staff illness and burnout. Here’s some things that you can address to help reduce the sick days taken in your office. 

Let people take sick days! 

This might sound counterintuitive but hear us out. When employees feel pressured to go into the workplace when they’re sick, not only are they not getting the rest they need to get better, they could be spreading their sickness to others.

Sometimes people need to be reminded that it’s okay to take sick days, especially when they’re contagious. If rest is needed to recuperate and get better, then this is what will ultimately have the employee returning to the workplace sooner. Plus, having someone come to work with a violent cough and spreading it to coworkers, clients, and potentially customers doesn’t help anyone!

Work from home 

If your workplace has the facilities to enable working from home, this could be another option. Your staff member may be contagious with a sniffly cold but feeling fine to work. In this case, encouraging the employee to work from home means that they aren’t spreading their sickness, they have easy access to medicines, and if they need to lie down and rest, they are already home. Pushing employees to get up and out when they need to rest up could make them feel worse! Better to work from home than not work at all.

Flexibility and balance 

A common cause of employee absence is burnout, with as many as 20% of workers taking time off due to stress in the past year. What we can learn from this, is that burnout is bad from both employer and employee, and prevention is key. Enforcing policy and promoting working habits that are sustainable can help staff to have a healthy work/life balance. 

Taking breaks whether working within labour intensive or office jobs is essential. Physically demanding work necessitates physical rest, and having a screen break to stretch your legs in the office can actually make you more productive!

Another thing to remember is prompting employees to use their holiday entitlement. Ensuring that regular holiday is taken will provide staff with a break and reduce the likelihood of burnout. 

Employee Assistance Programme (EAP)

The strain on employees may not end when they get home. Not all stress-related leave is solely related to the workplace, so providing additional support for stressing factors that may be impacting your people outside of work can reassure employees.  

That’s where an EAP comes in. From legal assistance to financial guidance, speaking to an expert could help to smooth out any issues going on in an employee’s life. Sometimes counselling or advice is what is needed!

Health Benefits 

Of course one of the main ways to prevent staff absenteeism is ensuring that their physical and mental health is as good as it can be. Not all health issues are preventable, but aiding employees in taking care of themselves is a great start. 

Implementing a health and wellbeing programme could work wonders, with our package including an EAP, gym discounts, savings on food and supplement subscriptions, and plenty of other resources.

Or, opting for employee health insurance benefits may provide a safety net for when life just happens. 

Vocalise it!

Once you’ve got a clear policy in place, health and wellness benefits, and flexible working, it’s your job to communicate it to employees. Making your team aware and having reminders and demos of any platforms is the best way to increase benefit uptake, increase employee engagement, and get employees focusing on their health. 

And if you’ve got benefits and a workplace culture that you’re proud of, that’s worth shouting about!

Contact the My Staff Shop team to learn more about our EAP and Employee Health Benefits.

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Stress Awareness Month – Employee wellbeing initiative

This month is Stress Awareness Month, and managing all the things that life throws your way is not always easy. One in 14 UK adults feel stressed every single day, and this is on the rise. From responsibilities at home to tense work deadlines, it can be hard for some people to keep their heads above the water. Often employees feel like they have nowhere to go to help relieve some of these stresses without feeling like a burden to their employers. 39% of employees asked in a recent survey said they felt fear that they would be judged negatively if they were to open up about their mental health. It is time companies transform this narrative, and offering employee wellbeing assistance will help your team grow stronger, and relieve some of the pressures they may be facing.

Employee wellbeing is not just about mental health, but it is an important factor to think about when considering what your organisation is offering to employees. It is suggested that almost 13% of all sickness absence days in the UK can be attributed to mental health conditions. Because of this, Employee Assistance Programmes (EAPs) are now vital in the modern workplace.

EAPs can provide assistance in many areas of life. Not only can employees access help from counsellors and bypass long waitlists, but they can also receive legal support and money and budgeting assistance. But it’s important to pair this external assistance with internal support. Management can offer regular meetings or encourage open-door policies to talk to their employees about any issues they are having, without judgement. Setting the tone for a productive but understanding environment will make sure problems are not swept under the carpet, and the business and its employees can thrive.

Investing in a strong employee wellbeing programme not only relieves employee’s individual stresses, but also the company’s in general. Stress within the workforce can cause long-term absences and a decrease in productivity and overall morale, leaving businesses with an underperforming team, and more pressure to achieve results that without help, would be left uncompleted. And it’s not just beneficial to your current employees. A well-rounded wellness programme can attract prospective employees. For so many people, their career is not just about their pay, but the environment and opportunities a business has. After all, the majority of their time each day will be spent at work, and having wellbeing assistance readily available is an attractive offering. 

Ensure what your organisation is offering to staff will hit the mark on exactly what matters the most to your employees. Make sure your staff wellness package is tailored to meet the needs of your specific business; whether it be an EAP, health insurance or financial support. It has been reported that the rate of women who suffer from work-related stress is 25% higher than that of men. So make sure that everyone’s voice in your company is being heard when discussing ways to combat stress in the workplace, and communicate effectively with your employees about the most pressing issues that they need addressing. It is not always about what is offered, it’s also about taking the time to understand your employees’ specific needs and encouraging them to open up and feel respected, and ultimately, that they are receiving the help they may need.

For more information on employee wellbeing, book a free demo with our friendly team

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Supermarket savings: one of the best employee benefits

Finding the best employee benefits for your staff is key to aiding retention and satisfaction for your team. There are so many types of benefits you can offer, but what are some of the most valued? Looking at everyday problems and peeves that employees are facing outside of the workplace, cost of living is a biggie.

Inflation in the supermarkets has all of our jaws on the floor, and getting that weekly shop done seems to be getting more expensive with every visit to the shops – and is only due to get worse!

Shy of providing your whole workforce with a pay rise (which in most cases isn’t viable), supermarket discounts for employees gives them the chance to save on everyday spending is the next best thing. So what exactly could you offer to employees in terms of supermarket discounts?

Favourite supermarkets

Everyone has their favourite shops. Whether that’s due to price, location, or quality of produce, we all dabble with different supermarkets. As one size does not fit all, providing employee discounts for a wide variety of stores is the best way to ensure that your employees will get the maximum impact from their benefits. Sounds like a win, right?

The most commonly used Supermarkets in the UK include the likes of Tesco, Asda, Sainsburys, Morrisons, Iceland, Waitrose and more!

Budget friendly shopping

There’s two big supermarkets that so many people use to save on their groceries – Aldi and Lidl. Few discount schemes offer these shops within their savings programmes, but with My Staff Shop, you can either receive a discount or save up with our virtual currency, Reward Beans.

So on top of the endless sea of savings these two supermarket giants offer, employees using our Platform can save even more money.

Discounts or reward beans

The two ways that employees can save at supermarkets with My Staff Shop are through discounts when shopping, or by collecting Reward Beans, which can accumulate and later be spent as gift vouchers or cards across a huge variety of stores and services.

Or, using Reward Beans, employees also have the option to transfer savings into an ISA, towards a savings goal, or even to donate to a charity. In essence, Reward Beans can build up to a nice nest egg to put towards a holiday or rain day savings.

How much is saved?

So how much can actually be saved? Through the use of My Staff Shop, an average family of four could save up to £1,000 a year – all while sticking to the same shopping habits! The only difference is adding the step of using the My Staff Shop portal, which within a few taps can have your employees saving cash on everyday purchases.

Learn more about Discounts and Savings with a free demo from our friendly team.

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What is On-Demand Pay and why should employers care? 

On-Demand Pay (ODP) is fast becoming the norm for many workers. The NHS, Tesco, Capita and McDonald’s already offer it, and one in five Americans and 15% of British workers are already paid this way.

This is the ultimate ‘cheat sheet’ and explains everything employers need to know about ODP in plain English.

ODP Meaning

ODP is a tool that gives staff the flexibility to access their earned income anyday they need, rather than having to wait for payday.

New technology enables this relatively simply, without impacting the employer’s payroll process or cashflow.

Is this the same as a wage advance or loan?

No. It’s important to note that this is not a loan and, accordingly, there is no interest to be paid by the employee. It is also not an advance, as only money earned – rather than future earnings – can be accessed.

Alternative Names for On-Demand Pay

Confusingly, ODP is often referred to by other names, including:

  • Earned Wage Access
  • Wage Advance
  • Flexible Pay
  • Employer Salary
  • Advance Scheme
  • Instant Pay
  • Early Wage Access

All of the above refer to exactly the same technology, simply by different labels.

Worked Example

If Steve gets paid £100 a shift and has worked 5 shifts since his last payday, he has earned £500 in gross earnings. Usually, he wouldn’t be able to access this until payday, which could still be many weeks away.

ODP would allow him to withdraw a portion of this immediately. If, for example, his employer had set the cap to 50% of gross earnings, Steve could access up to £250 on this day of the month.

On-Demand Pay Pros For Staff

Avoid Debt: Without adequate savings, many people turn to debt when unexpected costs arise. ODP is significantly more affordable than credit, approximately 99% cheaper than a payday loan, and is totally debt-free.

Easier Budgeting: Many workers find it easier to budget over shorter time periods and withdraw money as direct debits come out, rather than managing a single pot of money across a whole month.

Available to Everyone: Unlike most financial products, ODP is available to all employees for the same cost; regardless of their credit history or relationship with their line manager.

On-Demand Pay Pros For Employers

Reduce Staff Turnover: Employees are less likely to change jobs and will be reluctant to move into roles where they cannot be paid on demand. Some employers have reported reductions in staff turnover as high as 50%.

Recruit Staff More Quickly: If a candidate has a choice between two very similar jobs, but one offers ODP, they are likely to choose this over one that does not.

Fill Shift Rotas: Staff are far more motivated to work overtime and extra shifts when they get paid for them sooner. Some employers have reported more than a 60% increase in shift-filling even when paying the same hourly rate.

Reduce Absenteeism: Studies have shown that On-Demand Pay reduces absenteeism by an average of 13%, as workers are less stressed about their finances and reminded more frequently of the financial reward for their work.

On-Demand Pay Adoption in the UK

ODP has proven very popular with workers in recent years and enjoys a much higher take-up rate than almost all other employee benefits. It is common for over 50% of staff to use it at some point.

Nine out of ten UK workers would like access to it and, as reported in the Guardian, a majority of British workers would even prefer ODP to extra paid holiday.

Amongst the HR community, there is a growing consensus that, over the next 12 months, ODP will, in some industries, shift from a ‘nice-to-have’ to a ‘must-have’.

15% of all UK employers now offer On-Demand Pay including, but not limited to:

  • Amazon
  • The NHS
  • Amazon
  • Local councils
  • Capita
  • Tesco
  • Green King
  • Hilton
  • McDonald’s
  • Subway
  • Walmart
  • Co-op
    And many more…

Learn more about Level here, and if you’d like to hear more about our other benefits, contact us for a free demo

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Support employees in saving for the future: ISA investments

Most people are saving towards something. In a recent survey 68% of Brits have some money saved up – whether it’s for a new car, moving house, retirement plans or a holiday, people are planning ahead. But a monthly salary can only go so far, and the temptation (or sometimes necessity) to dip into a savings pot can be all too easy. So how can My Staff Shop help your employees start saving smartly, and expand your employee benefits offerings? Look no further than an ISA through My Staff Shop.

An ISA, or Individual Savings Account is pretty much what it says on the tin. It is an account that holds cash and/or investments without to paying tax on any interest, investment income or gains on the money held within the account. With interest rates fluctuating all the time, having a Stocks and Shares ISA like the ones offered by My Staff Shop means not only the money you are putting in is safe from being taxed, but also stocks and shares perform historically much better than cash & the rate of inflation over long periods of time. With all these perks, it’s clear why there has been an uptake in the amount of ISAs opened. In 2020, there was an increase of 310,000 Stocks and Shares ISAs opened, bringing the total to 2.73 million open accounts. So what is special about opening an account through My Staff Shop?

Opening a Cushon Stocks and Shares ISA with your My Staff Shop account means that not only can you add money from your wages or other savings accounts, but also your earnt Reward Beans. Any Reward Beans you have collected through purchasing gift cards or through our cashback links can be added directly into your ISA. So using your My Staff Shop account really is a no brainer if you or your employees are looking for a simple way to start their savings journey. Sometimes starting to put aside money can be a daunting task. But if you are regularly using the My Staff Shop platform to purchase your groceries, fuel, cinema tickets or clothing (to name just a few!) then you can passively start saving with little effort, and without adding more stress at the beginning of the month. You can even transfer as little as £10 a month, making it flexible to your financial situations. 

With an ISA set up through your My Staff Shop account, you can create valuable savings for the long term, just by adjusting your spending habits and shopping through the platform. So next time you pick up a new pair of jeans or grab a latte – you may just be investing in your future!

To learn more about savings and discounts, request a free demo.

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