Love2reward, one of the UK’s leading providers of cost effective and flexible reward solutions, today introduces new employee benefits products into its portfolio.
Flexebens is a unique gift card platform which gives staff 7% discount every time they shop. The Flexebens card can be used in 23 leading retailers including River Island, Debenhams, New Look, Comet, Boots, Superdrug and Iceland, with new retailers joining the programme every month. Employees can save money onto their Flexebens card in one of two ways:
Salary Exchange – this salary deduction scheme allows employees to choose how much money they wish to be taken from their salary each month. Each employee receives an ongoing 7% discount on the amount they pay into the scheme from their net salary. Every month, the money deducted from their salary is loaded onto their individual Love2shop Flexebens card – for instance £93 deducted from the net salary would equate to £100 load value.
Voluntary Benefit – this option allows employees to benefit from the same 7% discount, but the onus is on the staff member to make payments online via their own credit or debit card, which means no payroll involvement. The employee again chooses how much money they wish to add, and the value (together with the additional 7%) is loaded onto their Love2shop Flexebens card.
The employer simply pays a minimal setup charge, and all monies loaded onto Love2shop Flexebens cards are held in trust, and lost or stolen cards can be blocked and replaced, so that both the employer and cardholder have complete piece of mind.
Flexesaver gives employees an easy way to save for Christmas – they simply put money away directly from their pay throughout the year and then receive their choice of high street gift cards and vouchers in plenty of time to do their Christmas shopping. Plus they receive a discount on top of their savings which acts as a great incentive. Flexesaver is presented as the employer’s own branded Christmas savings scheme. Employers are provided with catalogues to hand out to employees, who then choose from a range of gift cards and vouchers, and complete and sign an order form to consent to their savings being taken regularly from their salary by the employer.
Everyday Benefits completes the portfolio line-up, and is an off-the-shelf voluntary benefits package designed specifically for the small and medium enterprise (SME) market. Launched successfully in 2009, Everyday Benefits offers a broad range of discounted voluntary benefits including savings on high street shopping and gift vouchers, food and entertainment, home and motoring, health and leisure, green and ethical products and holidays in the UK and abroad.
Everyday Benefits can be designed and tailored with the employer’s branding, thereby appearing to be the employers own scheme. Alternatively access is via a ‘generic’ site and can be linked to an employer’s own intranet. For any employees who do not have access through a conventional online portal, a benefits catalogue is available. Everyday Benefits is completely flexible in terms of content. If an employer already has a scheme running then it is possible to select just those elements that are required to supplement and complement the current offering.
Commenting Martin Cooper, head of national accounts and marketing at Love2reward said: “We have been providing market-leading reward management products and services for over 20 years, and have more than 250 clients who already have Flexecash card schemes running within their organisations - Volkswagen, Michelin, Paypoint, Iceland and CAT UK have all made Flexecash multi-retail pre-paid gift cards central to their reward strategy. The introduction of Flexebens and Flexesaver into our employee benefits portfolio means that employers now have three unique, low-cost tools to add to their motivation armoury.”
About Park Card Services Ltd
Park Card Services Ltd is a trade name of Park Group PLC. Park Card Services is authorised and regulated by the Financial Services Authority. FSA Reference: 498501. All trade marks are registered to Park Group PLC. For full terms and conditions please call 0845 313 0357.