It’s not easy to create an employee perks package that meets everyone’s needs. Some employees might prefer to spend on food, while others may opt to have their commute covered instead. Factors like work location, personal and professional priorities, and company budgets are complex considerations for HR teams when crafting employee benefits.
As workforces evolve, the priorities of employees and job seekers change as well. They no longer want the same things a previous generation of workers settled for; and it’s important for companies to keep this in mind and adapt to market demands.
Personalisation is a highly sought after feature of a truly effective benefits package. This has been shown to increase employee retention, satisfaction, and even recruitment of new workers. Companies will find that new hires will be more attracted to jobs that offer adaptable perks.
For HR teams, it’s a cost-effective way of ensuring your employees are well taken care of. Even companies that have a set or limited budget will have the option of providing for their employees without breaking the bank.
Through our wide range of services and merchants available on the Grab app, HR managers and team leaders are already able to create spend limit policies and allocate budgets to particular services. Employees can take advantage of benefits like transport, food, groceries, and deliveries seamlessly.
Flexible employee perks made easy
To solve for the challenge of the different needs and wants of each individual employee, we’re excited to launch flexible spend limits–a new feature that allows company admins to create spend limit policies that can be used across single, multiple, or all service types.
For example, if an HR team has a budget of SGD 100 per employee, they will no longer need to pick and choose which service to allocate them to. Instead of allocating SGD 20 to transport, another 20 to food, and so on, they can simply set the spend limit to SGD 100 and make the funds available to the employee across all service types. For HR, this makes a world of difference in terms of time and effort.
For employees, this means they can now enjoy a wider range of services and perks, along with the flexibility to select what is appropriate to them. They can choose to spend a portion on their transport to the office, or on a delicious in-office lunch with their colleagues.
Employees will also be able to order directly from the Grab app and bill their transactions to the company! This saves time for both themselves and HR teams, removing the need to submit and approve claims for benefits. And in the event that an employee goes above the set limit, they can pay the balance from their personal Grab accounts.
It’s a win-win situation!
Setting up your policies
Here’s how easy it is to start setting flexible spend limits right away to roll out your employee perks program:
Visit our website to learn more about Grab For Business and contact us to find out how you can use the Grab For Business Portal for your employee benefits. To keep up with the latest updates, follow us on LinkedIn.