How Employee Discount Programs Support Generational Diversity in the Workplace

Diversity in the workplace is no longer a hot topic. Rather, it’s an important and permanent topic that should continue to be talked about and built upon. As a new generation enters the workplace, there’s a facet of diversity that we want to discuss: generational diversity. More importantly, how can you improve it in your workplace? We think we know one solution – a perks and discount program.

We know what you’re thinking. What’s the connection between a workplace and a voluntary benefit like perks and discounts? More than you think! In today’s day and age, there can be up to four generations of employees working closely together in different departments or on different projects, and this is a great thing for the company. Not only does this mean you’re getting the benefit of different perspectives, opinions, and beliefs, but studies say the revenue of a business can increase by 19% when that business enjoys diversity. But that’s not as easy as it sounds. More often than not, employees want to go where they feel comfortable. Eventually, they end up working with people who look, think, and sound like them, creating a disparity in diversity for your workplace.

So what can you do to fix this? Obviously, a perks and discounts program is not a cover-all solution to a large problem like a lack of generational diversity in your workplace. However, it is a fantastic place to start. Here are three important reasons why:

1. Perks and Discounts Programs Offer Discounts for All Financial Situations

There’s no getting around the fact that different generations have different needs. Those differences, while great for creating a sense of generational diversity and inclusion in the workplace, can also make it difficult to find a solution that appeases all employees. The beauty of a perks and discounts program is that it manages to do just that! By providing an array of discounts in a variety of categories, every employee is able to find a discount they find valuable and useful to them individually.

2. Perks and Discounts Programs Help Support Financial Security

Yes, each generation is different. However, virtually every member of the four generations that make up your workforce has at least one thing in common, and that is a desire to be more financially secure. Whether it’s dealing with expensive student loans, a mortgage on a new house, or an ailing family member, most employees have at least one area in their life that causes financial stress in their lives. Fortunately, a perks and discounts program can offer some help here as well. Saving through exclusive perks and discounts relieves some of the financial pressure your employees, no matter their generation, are experiencing every day. This can help with a number of things; their productivity, stress levels, and sense of financial security, to name a few!

3. Perks and Discounts Programs Attract and Retain Talent of All Ages

Generational diversity is one thing that should always be on your mind when it comes to both hiring new employees and retaining your current employees. Let your perks and discounts program be your best friend when it comes to these areas of your business. A recent Glassdoor survey found that 79% of employees prefer new or additional benefits to a pay raise. Broken down even further, the survey found 89% of employees aged 18-34, 84% of employees aged 35-44, 70% of employees aged 45-54, and 66% of employees aged 55-64 said they would prefer those perks and benefits to a pay raise. Factoring those preferences in, a perks and discounts program seems like the perfect addition to your benefits offering to both attract and retain new and existing employees of all ages.

We know how important diversity is to a company. It can improve your company’s productivity, efficiency, and overall success. But achieving it can seem like an impossible goal. Start on the right foot by implementing a perks and discounts program that supports a movement of generational diversity in your workplace. Click here to learn more about PerkSpot’s Perks and Discounts program and get started today!