Why Staff Priviledges?
Staff Privileges makes Employee Incentives & Perks Affordable
Staff Privileges gives employers of all sizes, a low-cost, easy and efficient way to offer valuable, employee lifestyle perks and employee incentives to their employees - a differentiator without complicated enrollment or on-boarding procedures to go through. Staff Privileges' employee benefits and perks do not have long-term contracts or underwriting. Most employers can be set up in days and employees can have access to the benefits immediately.
Employee lifestyle perks
Staff Privileges are perks that provide everyday value and savings in addition to peace of mind and security. Access provides a wide range of perks that employees of any type of business can use.
How Staff Privileges perks benefits employers
The program takes only days to set up - whether a company is large or small.
High, everyday value to employees.
An easy way to raise overall compensation value to employees.
Helps increase employee retention - employees only have access to the benefits while they are with the organization.
The platform is personalized with company name and special personalized messaging.
How Staff Privileges benefits employees
Benefits provide over $2,500 a year in everyday savings, security and peace of mind.
Benefits are easily accessible from any computer or mobile device and can be shared with employee’s entire family.
Benefits travel with employees wherever they go.
Employees feel appreciated for their contribution to the organization.
Employee Perks Can Help Reduce Employee Turnover
The cost of losing employees and replacing them can be expensive - so how much can that be? Well, according to Inc.com, most estimates run as high as 150% of an annual salary. This varies by industry and position level, but what it tell us is that there is a significant impact to a company’s bottom line when employee turnover is not controlled.
How does this translate to real costs? Well, let’s look at an example. Assume an average salary for employees in an example company is $25,000 per year. If you take the cost of turnover at 150% of salary, then the cost of turnover is $37,500 per employee who exits the company. For a small to a mid-sized company of 100 employees with a 10% annual rate of turnover, the annual cost of turnover is $375,000!
Small, medium or large companies, the cost of turnover can be a significant hit to a company’s bottom line.
So what calculations are taken into account in order to arrive at the 150% turnover cost?
Lost productivity costs
Overworked remaining staff costs
Lost knowledge costs
Knowing how much it costs to replace employees and, the financial impact turnover has on an organization's bottom line, offering employee perks is a logical way to reduce turnover. What Staff Privileges has done is to make it affordable and easy.
How Staff Privileges Helps with Employee Retention
There are many ways to affect employee retention such as employee compensation, employee rewards and recognition, employee communication, employee feedback and support, working relationships, working environment and more.
Employee perks are the next generation of employee rewards and employee compensation.
It is with compensation, rewards and recognition that Staff Privileges can make a difference. Compensation is more than just a paycheck. You have to look at entire compensation packages which include a mix of traditional and non-traditional benefits according to leading staffing organization, Robert Half and Associates. Traditional benefits that most employees and employers are familiar with are almost a staple and aren’t a differentiator when employees are deciding whether to stay or to leave. It is perks, which help employees in their everyday lives that employee’s value when calculating how well their employer is compensating and valuing them.
These “perks” are an easy, tangible way for companies of all sizes to create good will with their employees. Offering valuable, everyday benefits that assist employees outside of work, helps increase loyalty to the organization. Providing Staff Privileges demonstrates a company’s value of the work/home life balance.