Discounts for supermarkets, online and high street retailers were the most used employee benefit throughout 2023, according to the findings of new analysis.
Analysis of 2023 user data for Engage – an employee benefits and rewards app’ provided by HIVE360 – shows that downloads of shopping discounts surged in January and July last year, and accounted for 11% of the total annual total respectively.
The data also confirms an uptick in seasonal usage, with more than half of discounts downloaded in the second half of 2023 and in the run-up to Christmas, with the number of discounts accessed and downloaded doubling in November and December when compared to September and October.
These results are likely a reflection of the current cost of living crisis, which has put significant financial strain on individuals and their families. As the cost of essential goods and services continues to rise, employees are increasingly seeking ways to stretch their budgets further.
As well as a sustained use of discounts for everyday shopping, the 2023 data shows a consistent use of all the training features. The app provides access to online and mobile-based workplace training and employee development programs covering Health & Safety, HR and Business compliance, management development, and a range of soft skills. User numbers were at their highest for the year in March (14% of the annual total) and January (9%).
HIVE360’s analysis aims to delve into the trends and usage levels and numbers, to identify exactly what workers and employees want, need, and use most. Commenting on the findings, HIVE360’s Customer Experience Manager Claire Lidgbird says:
The effects of the high cost of living continued throughout 2023. The user data for the financial benefits accessed via our Engage employee benefits app suggest that growing numbers of workers are feeling the pinch and actively looking for and using financial savings on everyday purchases in particular, and that those lucky enough to have these kinds of discounts and savings available to them, are using them more and more.
Claire Lidgbird, Customer Experience Manager, HIVE360
The Gympass second annual State of Work-Life Wellness Report also sheds light on the growing significance of employee wellbeing, with one of the key findings of the Report being that 88% of UK employees say wellbeing is more important than salary.
David McCormack, CEO of HIVE360, adds:
Employee benefits are a significant and cost-neutral solution that employers can use to provide their workforce with tangible financial support. They have the potential to play a huge role in enhancing an employee’s life, both at and away from work, and enhance employee engagement, recruitment and retention strategies, and worker and business productivity levels too.
David McCormack, CEO of HIVE360
Joanne is the editor for Workplace Wellbeing Professional and has a keen interest in promoting the safety and wellbeing of the global workforce. After earning a bachelor's degree in English literature and media studies, she taught English in China and Vietnam for two years. Before joining Work Well Pro, Joanne worked as a marketing coordinator for luxury property, where her responsibilities included blog writing, photography, and video creation.