Perks of the job from operating table to grave
By Rhymer Rigby
Published: June 17 2008 03:00 | Last updated: June 17 2008 03:00
L isa Hanson, an assistant accountant, had been working for her organisation for six years when she decided it was time to take advantage of the staff discount scheme. "I had a breast enlargement and an uplift and I saved £3,000, or over 50 per cent," she explains. "I'm extremely pleased with the results and it's a real plus of working here. To be honest, I don't know why I waited."
Ms Hanson works for Transform, the UK's largest cosmetic surgery provider, and like many employers it gives its workforce the opportunity to enjoy its products and services at a substantial discount to the market rate. About 75 per cent of staff have had some sort of treatment and a third have had surgery.
A Transform representative says that not only is it seen as a perk that engenders loyalty, but surgically enhanced staff act as company ambassadors: "It helps people empathise. If someone comes in for a consultation and the person they speak to has had the same operation, then the member of staff really knows what they're on about."
Most product-related perks are a little more pedestrian. Almost all retailers offer schemes whereby their staff receive a discount on the products they sell. J.*Sainsbury and Tesco, the UK supermarket chains, offer 10 per cent off shopping. Employee-owned Waitrose, another UK store, offers 12 per cent (and up to 25 per cent at John Lewis stores).
Across multi-company groups it can be more complex. At Virgin, the Tribe scheme gives staff discounts across a broad range of the group's (and others') products and services. However, employees get bigger discounts from the division that employs them, such as Virgin Atlantic or Virgin Trains, the company says.
In some cases, employees can receive discounts from suppliers. For example, if a company uses Dell PCs or Apple Macs, staff can often buy computers from those vendors at a reduced rate.
Not all perks are straightforward discounts or freebies. Professional services firms typically offer free financial advice or accountancy.
However, some of these benefits are of limited monetary value, offering just a curious cachet. Staff mortgages are no longer available from the Bank of England but employees can still apply for an account with the Bank that comes with a chequebook and guarantee card. However, it may be of limited use as the Bank has a grand total of two cashpoints.
Paul Brown, a senior consultant in the Flexible Benefits Team at Watson Wyatt, says that although offering discounts can be a good way to create loyalty, and perhaps even ameliorate lousy pay, there are a number of issues to watch out for. Typically these programmes will be either relatively modest, of limited real use or have some some sort of cap on them. "The [Inland] Revenue might get rather funny about unlimited amounts of free or nearly free goods, especially if they are easily tradeable," he says.
For obvious reasons, most businesses do not give a staff discount straight away - a year is a common wait - to discourage those who are just in it for the freebies. There are other sector-specific considerations, too. For instance, Transform applies its usual rules to staff operations: "While there are no limits on what you can have done, if the surgeon feels you don't require it or your expectations are unrealistic they may refuse," the company says.
Mr Brown also points out that poorly administered schemes have been known to backfire badly. "The biggest issue we've found is where people discover they can get the goods cheaper elsewhere. We worked with a large conglomerate that offered fridges and dishwashers through a staff scheme. Sometimes [usually through one-off discounts] they were cheaper at retailers. This was seen as a real negative; it looked like they were taking their employees for a ride."
Other problems, he adds, can occur when the company sells problematic products. Giving your employees discounted cigarettes, for example, does not necessarily send out a message of unalloyed benevolence. However, at least one tobacco company also offers support for those who want to give up smoking.
But those who just cannot quit may wish to consider a job at Dignity, the UK's largest provider of funerals. "It depends on the circumstances," says Richard Portman, corporate services director and company secretary, "but if a member of staff or someone in their family dies, discounts are available."
Copyright The Financial Times Limited 2008
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