Employees are your True Brand Ambassadors

Richard Branson says it ideally – “If you look after your staff, they’ll look after your customers. It’s that simple.” Well, that’s true considering the current scenario of the Great Resignation, economic turmoils of COVID-19, and rising employee burnout rates. We are in the rat race to increase customer engagement, brand awareness, and sales, and focus on just our customers.

While it is essential to nurture customers and increase brand loyalty, we forget those true brand loyalists that sit next to you and work for you. That’s right–your employees are the ones who know your product in and out, who have the ability to change customer perspectives towards your products, and can help increase your bottom line.

Hence, it’s time for companies to invest in their employees to gain long-term benefits. And they can do so with the help of an Employee Discount Program.

What is an Employee Discount Program (EDP)?
As the name suggests, this program offers discounts to employees. An employee discount program is a part of a comprehensive benefits umbrella in which employees can access discounted products or services. The discounts are of all shapes and sizes–movie tickets, grocery products, retail clothing, holidays, etc.

This program is only meant for employees and is one of the ways to reward for the effort your employees put in. OptCulture recently launched the employee discount program to help brands simplify their marketing endeavors as well as employee engagement. Our platform can make managing and offering employee benefits more straightforward and convenient. You can easily integrate the platform with your existing systems, track how the program works, and deliver a branded experience.

Is EDP Truly Needed?

Yes, it is very much needed! Here’s why:
Changing Employee Expectations Nowadays, the bitter truth is employees need more than just a handsome salary–they need comprehensive benefits. Studies show that 78% of employees state that a benefits program can make them stay with their employers, and 80% of employees choose benefits over just a mere pay rise. People want to work where they enjoy each day and get motivated to come back the other day to work with the same enthusiasm. Moreover, after the pandemic, many companies now focus on employee well-being and want to ensure their employees are happy.

Companies need to make their overall workplace culture and ethics rewarding enough, and offering discounts is one such way. If we closely observe, who doesn’t like discounts? Everybody does, including your employees. So give that extra discount, attract employees, and stand out from today’s saturated market.

Companies like Apple, Google, Samsung, Nike, etc., are able to attract top talent and beat their competition by offering them more than just an ‘easy-on-the-eye’ salary. Apple’s EDP is known as the Employee Purchase Program (EPP) and provides exclusive discounts on Apple products to employees and their family members.

For example, you can save up to$500 on a new Mac and $250 on a new iPad. The company also provides an annual 25% discount on Apple products and accessories. And if you’re a family member of an employee working with Apple, you can also get a discount of up to 15%. Besides giving Apple products at drooling prices, Apple introduced other benefits like increasing paid sick days, annual offs, and parental leave for 6 weeks.

Likewise, Nike employees and their family members have access to Nike, Converse, Jordan, and the company’s affiliate products at discounted prices for up to 50% off.

True Brand Ambassadors
Marketing is all about getting known! Your employees can help promote your brand at the core. They are directly talking to your customers (especially customer-facing employees), which implies that they have the power to influence their decision-making and drive sales. Customers want to be associated with brands like partners rather than just buyers.

So when companies demonstrate a commitment to their employee’s well-being and happiness, they are more likely to be viewed favorably by customers, increasing positive word-of-mouth recommendations.

For instance, millennials will buy from a brand that is actively associated with a cause, is giving back to society, and will abandon a brand with poor company ethics. Giving your employees extra benefits and discounts can go a long way to nurture customer and employee relationships. This way, you’re hitting two targets with one arrow: making your employees hardcore brand loyalists, which can help create a positive reputation for the brand and attract more customers.

So, the next time you’re rolling out a marketing campaign, involve your employees and give them something to talk about. A sense of ownership will allow them to talk about the brand broadly and drive more sales. Moreover, partnering with collaborative brands to make them a part of EDP can help to increase brand awareness and encourage more cross-sell opportunities.

HR Upsides
Giving discounts eventually helps employees save, whether grocery shopping or on holiday. This shows that you genuinely care for your employees’ holistic well-being beyond their daily work schedule, making employees more engaged, happy, and motivated to work for you.

When you offer perks that cover an employee financially, medically, or emotionally, your employees are happy and will work with all dedication.

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Employee turnover costs can come close to around one-third of the employee’s annual salary, and low productivity costs a whopping $1.8 trillionyearly to businesses in the USA. Companies can keep such expenses at bay by keeping employees motivated and productive at the workplace. Employees are likely to feel a sense of loyalty and attachment to their employer, which can reduce the likelihood of them seeking employment elsewhere. This can result in lower turnover rates and reduced recruitment costs for the company, attracting top talent.

Recognizing and rewarding employees for their efforts can help to increase motivation and productivity, reduce absenteeism, and improve their overall job satisfaction. The benefit is a more productive and engaged workforce, which can be a significant advantage for the company.

Jump on the Bandwagon
Employee discounts are not just perks but a cost-effective financial investment that offers valuable returns. The returns in the longer period will turn the scales against initial upfront costs. Nevertheless, the program should be planned correctly, systematically, and more personalized as per employees’ needs.

With OptCulture’s platform, employers can build deeper connections with their employees, customize the experience, and streamline employee engagement. As one of the leading retail marketing management software, OptCulture’s employee benefits offering can help you stay employee-relevant, with the ability to track measurable outcomes and boost business. Remember, your employees are your strongest asset–invest in them and gain a strategic and competitive advantage.