Hike in workers using employee benefits’ shopping discounts

HIVE360’s employee benefits and rewards app, Engage

MARCH AND April user data for HIVE360’s employee benefits app Engage confirms employees are using financial benefits more, with downloads of shopping discounts for retailers including Tesco, Sainsbury’s, Asda, and Morrisons up by 10 percent month-on-month.

Discounts on mobile-based retail and day-to-day spending savings from the benefits app have also increased – up by six percent from March to April.

When compared to shopping and mobile discounts accessed by Engage users in the last six months of 2022, the volume of retail discounts downloaded is significantly higher – the difference between data for last year’s Q3 and Q4 showed just a two percent increase.

The figures publish as the findings of new research commissioned by the Mental Health Foundation reveal one in ten (10%) of UK adults feel hopeless about their financial circumstances.

“Fuelled by rising inflation, interest rates and the cost of living crisis, the real value of workers’ pay has dropped, meaning huge numbers of people are struggling to make financial ends meet,” says David McCormack, CEO of HIVE360. “Employee benefits are a significant, cost neutral solution that employers can use to provide their workforce with tangible financial support, and have the potential to play a huge role in enhancing an employee’s lives at work and home.  

“As the logistics sector continues to face recruitment and retention challenges, businesses are looking for cost efficient and effective ways to support workers’ financial wellbeing. Workforces are increasingly disparate, which makes it harder than ever to provide real-time support. Because our payroll and employee benefits solutions are all in one place and available via our highly secure mobile app, workers have access 24/7, wherever they are; employers can utilise the app for all vital communication and support.

“Workers do sometimes face issues with poor working conditions, low pay rates and sadly also labour abuse. HIVE360 is a proud provider of employment and engagement support services to the logistics industry and is licensed by the Gangmasters & Labour Abuse Authority (GLAA), a Non-Departmental Public Body of the UK Government. GLAA regulates businesses that provide workers, to ensure they meet the exacting employment standards required by law.”

He adds: “Businesses looking for cost effective tools to help workers manage spiralling inflation and soaring living costs, as well as optimise talent attraction and retention strategies, should find out how employee benefits make a difference. A customised digital mobile employee benefits and rewards package that is focused on employee engagement, benefits, rewards, and retail discounts is the ideal delivery method.”

HIVE360 provides its Engage Employee Benefits app as standard to businesses that outsource payroll and employment administration to the company. The app includes My Training, My Health, My Money, My Discounts, and My Work features. The app has an average of 100,000-plus user sessions each month, with levels of user engagement averaging well over 80 percent.

HIVE360 ensures full HMRC, RTI, GLAA and IR35 compliance. It provides expert, compliant and reliable PAYE payroll support and comprehensive employment administration. It works with owner-managed, privately owned and SME businesses, permanent and temporary recruiters. 

For more information, visit https://www.hive360.com/payroll-pension-perks/