December 2014/January 2015 Volume 5, Number 6 | |||||
Give Employees More Buying Power through Payroll Deduction If early season trends continue, Americans could spend more this holiday season than they have in several years. Employee purchasing plans can help employees avoid a post-holiday financial hangover.
Earlier this fall, experts predicted that holiday season retail spending could increase more than 4 percent over 2013’s figures. Unfortunately, that holiday cheer can often result in a post-holiday financial hangover, as consumers face credit card debt for their purchases. An employee purchasing program can help employees buy big-ticket items this holiday season without scrimping—and without amassing unnecessary interest charges. Employees can buy things they otherwise might not be able to afford, without resorting to charging their purchases on a credit card. And unlike layaway plans, purchasing plans let employees enjoy their purchases immediately. Other benefits, which might vary by vendor, can include:
Employers gain a benefit program that helps employees maintain a better work/life balance. The employer has no costs or administrative responsibilities — the vendor handles marketing, administration and fulfillment. The employer bears no liability for products or services, or for unpaid balances if an employee leaves the organization before his/her purchase is paid up. If that occurs, the vendor will arrange a payment program directly with the employee. |
|
Insure Your Part-Time Workers at No Cost How Do Your Life Benefits Measure Up? Give Employees More Buying Power through Payroll Deduction The Advantages of Online Benefit Administration
|
|||
|