HML is launching a motivation scheme that enables managers to reward employees with a sum equivalent to cash that can be spent online at selected retailers and leisure providers.
The scheme is designed to engage younger staff at the company, which services third-party mortgages.
The instant reward is credited to an online account, which staff can use to pay for products from high-street retailers, theatre tickets, entrance to theme parks, meals and travel.
The scheme, provided by Motivano, was introduced to 1,900 staff in November and has an annual budget of £30 per employee. It will be promoted via the intranet and communicated through line managers.
Giles Phillips, reward and benefits specialist at HML, said the perk was introduced following an employee engagement survey in June that revealed many staff felt the benefits package was not relevant to them. “Discounts are a more tangible benefit for our younger workers. We had previously been pushing our risk benefits and pension scheme, but were struggling to get high levels of engagement,” he said.