Say hello to a new era in employee perks.
Gone are the days of enticing office employee perks. Today’s employers must think of innovative methods to reward employees, whether they’re based in the office and or at home. Whereas before staff could look to employers to provide perks, ranging from everything from extra paid time off to ping pong tables in the break room and beer in the fridge, the landscape for employee incentives has now changed thanks to the significant rise in remote working. According to Anouk Agussol in the Financial Times, “Companies that don’t have flexibility benefits as standard will really lose out. It’s no longer an advantage to have it, it’s a disadvantage not to.”
Prepaid cash cards, the perk for everyone
Where once it might have been enticing to have fun office perks – think extra holidays, free food in the breakroom, wellness days, on-site gyms, laundry centres and much more – according to the Financial Times’ Perk Popularity Index, employees are now shifting towards matters of physical and mental wellness as well as financial freedom.
B4B Payments offers an ideal product with our prepaid cards for business. The employer creates a specialised prepaid business card complete with the company’s own branding and logo. The card can then be distributed to employees, who then choose how, when and where to spend it. B4B payment cards allow money to be spent at multiple vendors, unlike single-use store cards. By providing them with a prepaid B4B payment card, you could be helping them to repay student loans. In areas where the economy has been hit harder by Covid, your B4B payment card might be assisting with something as fundamental as groceries. Employees once enjoyed free sushi in the break room; today’s needs might be something more essential. Crucially, though, you’re leaving the spending power in the hands of the employee.
“We were looking for a solution that allows our employees the freedom to spend their reward where they wish. Working with B4B Payments, we came up with the My Bunzl Rewards branded Mastercard. We wanted the rewards process to be as easy as possible for everyone and we’re very pleased to be working with B4B Payments to make this happen. The feedback from the business divisions and Bunzl employees themselves has been really positive.”Krystle Siaw, Bunzl plc.
The benefits of a branded prepaid B4B card
Gaining exposure for your brand is always a huge benefit to any organisation, and prepaid payment cards are no exception to this rule. For instance, if your employees were to go to a corporate event such as a conference and need to cover their expenses, they could always reach down into their wallet and grab their prepaid B4B payment card, showing off your company’s brand whilst they pay for their item of choice. This is a quick and easy way of getting seen by more people within your own industry, while putting minimal effort into getting this publicity. With a colourful and vibrant company prepaid B4B payment card, your business will stand out from the crowd.
B4B Payments provides modern payment processing solutions that enable any size organisation to simplify payroll and reimbursements, manage expenses and offer valuable employee incentives and rewards. By working with B4B Payments, your corporate expense management team no longer needs to worry about overextending itself on business payments and payouts. You decide how much money will be topped up on your prepaid B4B payment cards and keep yourself well within your own working budget.
If you’re interested in a prepaid B4B payment card to reward your employees and get your brand out there, get in touch with B4B Payments today. Our friendly team of experts will help to explain all the available options to you and find you a personalised way forward.