It’s not just the presents! Workers look to employer support to fund the festive period – from gadgets to groceries
Data from Perkbox Vivup, the global benefits, engagement and wellbeing platform, shows Britain’s employees are increasingly relying on their employers for financial support in the lead-up to the notoriously expensive Christmas period.
The platform’s discounts and perks solution, which provides savings at UK retailers, experienced a 75% increase in use between October and November 2024 – key months for present shopping. The data also reveals salary sacrifice schemes for household essentials and electronics have become more attractive. Provided by employers, these allow employees to make big-ticket purchases, like PS5s and MacBooks, by spreading the cost over multiple paychecks. In Q4 so far, Perkbox Vivup has already seen a 75% jump in salary sacrifice purchases compared to Q3, and the period accounts for nearly half of 2024’s total purchases.
Beyond gifts: supporting everyday essentials
However, festive spending hasn’t just been on luxuries. According to the data, many workers turn to their employers to help with everyday essentials, particularly groceries. Tesco, Sainsbury’s and Asda topped the list for redeemed discounts, with redemptions being much higher than last year. Between November 2023 and November 2024, Perkbox Vivup saw:
Tesco redemptions increase in use by 87%;
Sainsbury’s redemptions increase by 60% and;
Asda’s redemptions increase by 53%.
Doug Butler, CEO of Perkbox Vivup, comments on the findings: “Family and other personal holiday celebrations are getting more expensive during this cost-of-living crisis, and this presents employers with an opportunity to step up, provide meaningful financial support during this period and ensure every employee feels valued. By offering individualised support for specific occasions like the holidays, businesses can demonstrate genuine understanding of the challenges their people face, fostering a sense of appreciation and support within their workforce.”
The post Employers boosting support this Christmas according to data from Perkbox Vivup first appeared on HR News.