Before he goes shopping, Richard Buntain of Richmond, Va., often checks first with his employer, United Parcel Service. That's because the supervisor can score big discounts on a wide range of products as a UPS employee. Last year, he got an $8,000 discount on a Ford F-150 pickup. "I'm always looking," says Buntain, who also gets a 20 percent discount on his cellphone bill and "at least 25 percent" price breaks shopping online at Lands' End.
[See 21 Things Hiring Managers Wish You Knew.]
Companies today are looking for ways to help workers stretch their paychecks, without it costing employers more, says Christopher Covill, a partner at benefits consultant Mercer. Employee discount programs aren't new, but they are expanding in size and are spreading beyond the biggest employers to smaller firms, perhaps yours.
Companies negotiate directly or through brokers with insurance carriers, car manufacturers, and retailers to pass on discounts, giving retailers access to their workforce.
"It's a low-cost way to add a benefit to our team members," says Richard Robbins, director of benefits for Advance Auto Parts. Four years ago, Robbins began negotiating with carriers to provide home and auto insurance at a lower rate for Advance's 48,000 employees. Travelers and MetLife agreed to do so.
[Visit the U.S. News Careers site for more job advice.]
This year, Advance signed on with Motivano, an employee benefits technology company that has organized a virtual discount shopping mall for employees of Citigroup, Target, CVS, and other firms, offering deals on computers, cars, electronics, apparel, health clubs, and movie tickets.
"Thousands of small- and mid-sized companies get the exact same benefits as the large companies," says Seif Saghri, Motivano's CEO. "It costs the employer nothing," he says, to pass on discounts to workers. Vendors pick up the costs.
It's worth asking. . . .
Reader Comments