Employee discounts schemes are a common part of employee benefit packages – and it’s easy to see why. They give staff access to special offers, cashback, or reduced prices on everyday expenses, from groceries and gym memberships to tech and travel. A cheaper weekly shop or hotel stay can help employees feel supported in tangible ways, and the right scheme can boost engagement, loyalty, and retention.
But picking a discounts scheme isn’t always easy. There are a lot of options out there, and it can be hard to know where to start! That’s why we’ve made this handy guide: a rundown of what to look for, so you can save precious time and energy when setting up your benefits offer.
Table of contents
Step 1: Check what discounts your employees want
It’s all well and good offering your employees 10% off luxury cheese and wine hampers, but if they won’t use the deal, your investment goes to waste. It’s important to understand where your employees are spending the most and where they’d appreciate a saving. Gyms, cinemas, restaurants and supermarkets are just some examples of everyday deals that employees can make use of regularly.
You could find out their top spending categories and retailers through anonymous polling or in-person at a lunch and learn session. Why not combine it with a chance to discuss budgeting – and encourage employees to use a digital tool like Maji to understand their spending habits?
Use this data to evaluate which discounts scheme will actually make a difference for your employees.
Step 2: Consider your wider wellbeing strategy
Why are you giving your employees a benefits package? Is it just a tick-box exercise or are you actually aiming to improve your employees’ happiness and productivity?
Wellbeing isn’t just a few pennies more in the pocket. It’s also building physical health through exercise and nutritious food; spending time with loved ones to recharge; and creating healthy financial habits through sensible spending plans and reduced costs.
Choosing a discounts provider that fits into a wider wellbeing strategy just makes sense. It can help you maximise the positive impact on your employees, and therefore the return on investment you get from your whole benefits package.
Step 3: Check for hidden fees
Some discount providers want to charge you through the nose for an expensive platform or complex setup. Make sure you check the fine print. Are you paying for the deals package or a load of extras that won’t add value? Does the platform need lots of maintenance and management?
Selecting a simpler option with lower fees can make installation and management easier and cheaper.
Step 4: Look at how discounts are delivered
If there’s one thing that’s guaranteed to frustrate employees, it’s friction when they want to access a discount. Before signing up for a provider, double check how employees can get hold of their savings.
Do they need to sign up to a variety of different websites? Do they need to fill in complicated application forms? Are there 10,000 different options to scroll through, with limited search functionality?
Engagement is typically much higher when employees can access their discounts through a dedicated mobile app. In fact, app-based providers see up to 2x the engagement of those that don’t offer an app – meaning your employees are far more likely to actually use and benefit from the scheme.
The system with the least friction is the one that will see the greatest take-up. But how about a provider that helps employees see their available discounts in context? Maji’s budgeting and spending planner now includes integrated discounts, helping employees build dynamic budgets while seeing how much they could save through the deals available to them.
This saves employees wading through pages of offers just to find the one they’ll use – instead, they’ll see what’s relevant to them, with a clear demonstration of how much they can save.
Step 5: Help employees make the most of their savings
If you really want to go the extra mile, you could support employees to make use of the cash they save through discounts by starting a savings account or even upping their pension contribution. This way, the discount doesn’t just offer a short-term, one-off benefit, but something that can genuinely set your employees up for life.
A provider like Maji can help you implement this more holistic benefit, with Maji’s handy financial planning tools and easy ways to model and increase pension contributions.
Step 6: Check data protection and privacy standards
Any platform you introduce to your employees needs to meet high standards when it comes to data protection. This isn’t just about ticking a legal box – it’s about safeguarding employee trust. Make sure the provider complies with GDPR and has clear, transparent policies around how employee data is collected, stored, and used.
Ask whether the platform collects only the essential information needed to deliver the service, and whether they share any data with third parties. It’s also worth checking how employees give their consent and whether they can opt out at any time.
Get started on your search for a discounts scheme
Before deciding on a provider, it’s worth comparing what’s out there. We’d be happy to schedule a quick chat to walk you through our discounts offering – packed with deals your employees will love and fully integrated with smart digital tools that support everyday budgeting and future financial planning.
