#HR Trends and Insights | Money Savings

The benefits that go beyond the paycheck

March 14, 2023

It's not all about the money. More and more are looking to join companies that go above and beyond the paycheck by offering a variety of lifestyles and wellness benefits.

Commuter benefits

Commuter benefits give employees the opportunity to use pre-tax dollars on commuting costs and save an impressive amount of money on income tax in the process. Better yet, companies that offer this benefit save hundreds per employee by reducing tax they pay out.

When an employee enrolls in our commuter benefits program, they can set aside up to $300 from their paycheck every month to take the bus, subway, train, ferry, or vanpool to work. They can even use it to subsidize parking fees.

Commuting needs are changing – and in larger cities, the future isn't “flying cars”, it's the bicycle.

The distance between the transit stop and the final destination is known as the first and last mile. Many public transit stations are located far from employees' offices or homes. And most folks aren't comfortable walking more than one-fourth of a mile especially in the morning. Bikeshare, scooter, and moped programs are the solution to bridging the distance. There is also excellent data showing that commuting in the fresh air and moving your body results in improved and higher on-the-clock productivity.

Early access to pay

Life is full of surprises, and not all of them are good. You can give your employees peace of mind and increased financial well-being by offering them early access to their earned funds. They can choose to withdraw all of some of their next earned paycheck without waiting for the “regularly scheduled” payday to hit.

We all know access to healthy food and food in general is essential to our well-being, physical health, and mental health.

Your company can choose to set up monthly stipends that help employees eat during, and outside of, working hours at local eateries, restaurants, and grocery stores. And yes, all the popular food apps count too.

Lifestyle Spending Accounts

This incredibly versatile benefit makes it easier for employees to participate in wellness programs and make choices toward living healthier and happier lives. It also helps employers reduce healthcare costs and absenteeism, while increasing employee productivity, morale, and retention.

When we say “versatile” we mean it. Depending on your company's culture and goals, you could offer stipends or reimbursements for any of the following:

  • Active lifestyle
  • Entertainment
  • Family & personal needs
  • For the home
  • Home improvement
  • Restaurants & groceries
  • Transportation & mobility
  • Travel

Now, that's something!

Edenred is here to help

We work with you from the ground up. There is no such thing as a “standard benefits” package. It all starts with a frank conversation about your company's goals and values, and from there we work to help you construct (and seamlessly run) a benefits package that will help you company retain, attract, and engage with top talent.

Benefits card: Edenred will provide your employees with a multi-benefit card. You, the employer, can decide whether funds should be loaded monthly or quarterly. We manage the card.

Spending controls: You define how your employees spend this benefit by creating spending controls through geo restrictions, eligible days, and spending limits.

Easy online administration & support: We provide a secure and customized online portal and app that automatically disperses funds, manage balances, and allows your employees to track their spending and file reimbursement claims. We even handle all the communication. If your employee has a question, it goes through us.

Employee discounts: Edenred is proud to provide discounts to our participants, and we are always adding new partners to our catalog. Helping you and your employees save money is what we do best.

Schedule a meeting with us today so we can learn everything you need to know about offerings and getting started.

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