Glossary of Human Resources Management and Employee Benefit Terms
A meal voucher is a prepaid certificate or token provided by an employer to an employee, typically redeemable at designated restaurants or food establishments, allowing the employee to purchase meals or food items.
A meal voucher, also known as a luncheon voucher, is a type of voucher provided by employers to their employees as a benefit. These vouchers allow employees to purchase meals at designated restaurants or food establishments, typically during lunch hours.
Meal vouchers are a popular employee benefit that allows employees to purchase meals at designated restaurants or food outlets during their working hours.
Here’s a breakdown of how they typically function:
Issuance and value
Usage
Tax benefits
Meal vouchers can be subject to taxation, but the specifics depend on the local tax laws and the value of the vouchers. Here are the key points regarding their taxability:
Meal vouchers can be used at a variety of establishments, providing flexibility for employees looking to enjoy meals during their work hours. Here are the main types of places that typically accept meal vouchers:
When meal vouchers are used, several processes and outcomes occur, depending on the type of voucher and the establishment where they are redeemed.
Meal vouchers can provide significant savings for employees, primarily through tax benefits and subsidized meal costs. Here’s how you can quantify those savings:
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.
Meal vouchers stand out from other employee benefits in several key ways, primarily due to their specific purpose, usage, and tax treatment. Here are the main differences:
Meal vouchers are usually distributed through payroll systems or directly from HR departments. Employers may issue these vouchers monthly or quarterly as part of an employee's compensation package. Some companies also provide digital meal cards that can be loaded with funds and used at various food outlets.
Empuls can enhance the efficiency of a company's employee benefits program by integrating meal vouchers into its platform. This integration allows for seamless distribution and management of meal vouchers, ensuring that employees can easily access and utilize their benefits. Additionally, Empuls provides analytics and insights into employee engagement with these benefits, helping employers optimize their offerings based on usage patterns. Schedule a call now!
Meal vouchers can typically be used at various participating restaurants, cafes, and food outlets that have agreements with the issuing organization. The specific locations where these vouchers are accepted depend on the network established by the employer or the voucher provided.