Image of shopping trolley being pushed in a supermarket with green overlay and blog title 'Supermarket savings: one of the best employee benefits'

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

Image of an electric vehicle with overlay of 'guest blog' and title 'Embracing EVs: Driving your way to Corporate Responsibility'

Embracing EVs: Driving your way to Corporate Responsibility

The rise of Electric Vehicles (EVs) parallels the growing popularity of sustainability initiatives worldwide. Over two thirds (70%) now expect their employers, or potential employers, to be proactively working towards sustainability. So it’s not a surprise companies are paying more attention to their Corporate Social Responsibility (CSR) and any Environmental, Social, and Governance (ESG) initiatives, and aiming to become a B Corp.

One simple step businesses can take towards sustainability is by offering sustainable choices to their employees, like the provision of EVs.

Why should businesses care about sustainability?

Well, besides the fact it’s the right thing to do, there are many benefits for businesses having sustainability as a core value.

  1. It helps with employee engagement and retention – employees today seek more than just a job – they seek alignment with their values. Companies prioritising sustainability often see higher levels of employee engagement and retention.
  2. It can reduce costs by minimising waste, energy consumption, and water use.
  3. It can increase market share – if you are seen (and act, no greenwashing please) as an ethical business that cares about people and the planet, your market share will likely grow.

How can your business become more sustainable?

From going paperless to using green energy, there are many ways you can become more sustainable. More recently, businesses have taken to offering things like EV salary sacrifice options.

Switching to EVs is a simple, but impactful, way for businesses to adopt sustainable practices. Drivers can save up to 2.6 tonnes of carbon every year by switching from fuel-powered cars to an EV – that’s the same as planting 1,300 trees! Imagine the amount of carbon your business would be saving if your entire workforce adopted an EV.

So, with the impending ban on petrol and diesel cars, and the increase of ULEZ zones, many businesses are looking to improve their sustainability efforts and help employees access environmentally-friendly transport options, by offering EV salary sacrifice schemes (with no cost to the actual business itself).

And if you need more convincing, our customers have said, “We shortlisted EV salary sacrifice schemes and Octopus EV came out on top because of all the additional benefits that they could offer”, and “Retain staff for longer, reduce carbon emissions, and pass on green tax savings to our team – it’s not a difficult sell”.

What is an EV salary sacrifice scheme and how can it benefit my business?

Enterprises are leveraging EV salary sacrifice schemes, such as Octopus EV’s salary sacrifice scheme, to empower employees to embrace eco-friendly transportation. Salary sacrifice allows employees to save up to 40% off a brand-new EV. It works by employees giving a portion of their salary in exchange for an EV, saving on income tax and National Insurance contributions.

And with Octopus EVs salary sacrifice scheme, you get some extra perks, such as:

  • A free home charger (including standard installation)
  • 4,000 free miles of charging
  • Servicing and maintenance included for the whole of your lease
  • Insurance and breakdown cover for the entirety of your lease

With expert advice from Octopus, this makes it super easy to make the sustainable switch to electric for an employee. We found that most employees (61%) want to make the switch to an electric vehicle (EV) for their next car but price is a key factor for most (78%), so offering EV salary sacrifice schemes can get over this hurdle and offer your employees a benefit they want.

They cost nothing to set up, are cost-neutral to run, simple to manage and are low risk with early termination protection built in; they are a clear benefit to any sized business looking to adopt more sustainable practices.

But, why EVs?

In today’s business landscape, sustainability isn’t just a buzzword; it’s a strategic advantage. Offering EV schemes is not merely a gesture; it’s a step towards a more sustainable future and a future that is desired by the wider employee population. Through our Sustainable Workforce Report, we found the majority of employees (74%) said they’d want their employer to offer an EV salary sacrifice scheme when they were shown what was included.

As EVs gain popularity and legislation evolves, companies embracing this transition stand to benefit from enhanced employee engagement, strengthened Employer Value Proposition (EVP), and an amplified brand reputation.

The rise of EVs symbolises a broader societal shift toward sustainability. By embracing this change, companies can not only contribute to a greener future but also foster a positive workplace culture and set themselves apart as responsible corporate citizens.

Want to learn more about implementing an EV salary sacrifice scheme with Octopus EV? Register your interest here and a member of the team will reach out

The new Management Team signing the paperwork

My Staff Shop has exciting news!

We’re delighted to announce that we have now concluded negotiations to bring My Staff Shop and My Health Xtras under ownership of the newly formed Lyneal Group Employee Ownership Trust, with all of our employees now having a beneficial interest in the Trust, making it the only major UK Employee Benefits platform owned by its Employees!

Management Team member David Cartlidge, who has been with the company since its inception in 2011 said “Years of dedication and innovation has made our company the success it is today” adding “It feels fitting that the current employees will now be the beneficiaries of that hard work, providing world class benefits packages for our clients’ employees. This really is the ultimate employee reward programme – for employees, by employees!

The Trust will continue to trade as and Current clients including Brighton & Hove County Council, B&M, Panther Logistics and Home Bargains, enjoy a broad range of employee reward services from discount vouchers for supermarkets, to Health and Wellbeing solutionsReward and Recognition and Salary Sacrifice schemes.

Sophie Coope-Moss, HR Generalist is excited by the purchase – “We know we have a great product and it delivers real benefits to the staff who use it” she said “and it’s exciting to think that we’ll be living and breathing employee benefits for both our own company and for all of our clients, existing and future. It really does take our own motivation to be the best to the next level!”

If you’d like to chat to us about ways to make your staff as motivated and committed to the company as our own, then contact us and we’ll be happy to talk you through the range of employee benefits that we offer!

If you’re looking for ways to show employees how much you value them, learn more about our extensive rewards program, with plenty of benefits to boost staff morale and incentivise work?

My Staff Shop give all this and so much more. Read our White Paper to discover more or, if you prefer, request a demonstration for yourself now.

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