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✨ Don't miss out! Register for our Employee Appreciation Webinar scheduled for 29th February.🎖️
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Glossary of Human Resources Management and Employee Benefit Terms
An Employer Discount Program is a strategic initiative where companies partner with various businesses to offer their employees exclusive discounts and deals on products or services. These programs are designed to enhance employee satisfaction by providing added value beyond traditional compensation and benefits.
Employer discount programs are a popular perk that 23% of employees find appealing. These programs provide exclusive discounts at over 1 million merchant locations across the US, helping employees save money on everyday purchases and fostering a sense of appreciation and loyalty.
Offering employee discount programs provides several advantages for employers:
Eligibility for workplace discount programs varies depending on the organization and the specific program in place. Generally, eligibility includes:
The value of employee discounts can vary widely depending on the industry, company size, and the type of products or services offered. However, some general guidelines include:
These are short surveys that can be sent frequently to check what your employees think about an issue quickly. The survey comprises fewer questions (not more than 10) to get the information quickly. These can be administered at regular intervals (monthly/weekly/quarterly).
Having periodic, hour-long meetings for an informal chat with every team member is an excellent way to get a true sense of what’s happening with them. Since it is a safe and private conversation, it helps you get better details about an issue.
eNPS (employee Net Promoter score) is one of the simplest yet effective ways to assess your employee's opinion of your company. It includes one intriguing question that gauges loyalty. An example of eNPS questions include: How likely are you to recommend our company to others? Employees respond to the eNPS survey on a scale of 1-10, where 10 denotes they are ‘highly likely’ to recommend the company and 1 signifies they are ‘highly unlikely’ to recommend it.
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