How Much Employee Benefits Should Cost 

The need for Employee Benefits (otherwise known as Staff Perks) has increasingly become a core aspect of innovative organizations looking to cater for their staff and attract the best talent in the industry. This has been magnified within the UK as a result of the cost of living crisis with companies looking towards employee benefits to provide staff with a realistic means to reduce the impact of rampant inflation on staff financial and mental wellbeing without having to dramatically increase the salary of staff on their payroll. However, as company budgets are stretched to their limits, the question facing many small business owners and HR managers becomes apparent, how much should employee benefits cost us?

Pricing has become a controversial topic among staff perk providers. Here at Live Like Loyalty, one of the biggest complaints we have from customers was the lack of transparency of other esteemed organisations within our industry. Unfortunately, this lack of transparency has become common place with Industry leaders such as ‘Sodexo’, ‘Pluxee’ (formerly Sodexo) and ‘Perks At Work’ displaying no information on their site about how much their products cost, nor do they intend to do so.

The reason for this is simple, as employee benefit providers, companies seek to maximise their profit while Salespeople are on the search for the next ‘Moby Dick’ as to reap the largest commission. Of course, there is nothing wrong with a company looking to profit from their customers, however, this lack of transparency can often be malicious, particularly for small or medium enterprises.

The fact is that basic employee benefits, of which we define as basic discounts and packages across partner businesses cost little to nothing for large benefit providers. These are often arranged directly with networks of partners and only cost the time of staff involved. There is little difference financially in providing these discounts to a company with a headcount of 10 compared to a company with a headcount of 2,000 individuals. The difference resides in the amount these organisations bring in.

Small or medium enterprises are often overlooked due to their capital limitations and as a result salespeople dramatically inflate costs for these services. Often, getting a realistic price is a process of long and protracted negotiation and we’ve seen staff pay 200-1300% more than large organisations per person. This is ultimately the reason for the lack of transparent pricing as it allows companies to dramatically inflate price on a case per case basis depending on the negotiation ability and leverage of the company at hand.

Moreover, as these companies are so large, they are not dependent on the need of any small or medium company and from our experience, simply do not care if a customer finds out, threatens to move or wants a more realistic price to support their staff. It is not uncommon to recieve a minimum price of £50+ per head for small organizations as the employee benefit provider simply does particularly care about whether or not they gain the business of small independent businesses.

This is one of our BIGGEST pet peeves at Live Like Loyalty and is why we are proud to showcase all of our costs on our pricing page. Alternatively click here or on the gold button at the bottom of this article to see how much we cost. This brings us back to our original question, how much should employee benefits really cost? Well like anything this depends, but we at LLL are not going to give you an ambiguous and paradoxical answer that would confuse the best of us, rather we aim to inform you on what this depends on, and how much each of these additions should cost.

Let’s start with the basic package. As mentioned earlier in the article, we define a basic package as any package that allows customers to access an already existing network of promotions/offers built around a website (or in our case a regal app). We at Live Like Loyalty charge £6.99 for the smallest of organizations, although this can go up to £50 in the industry. However, as you can see these fall off dramatically as the number of employees increases. Therefore, we recommend small organizations pay between £6-8 depending on the benefits received. For larger businesses please use our pricing sheet by clicking on the button below and add create a range of 20% above and below our provided price to account for variations in profit margins on the company at hand.

of employees stay with their employer longer when provided an employee benefits package²
£ 6
Allowance for larger businesses
0 %

Some competitors will charge a minimum amount; however, these usually provide the least value and we recommend you avoid these at all costs. 

Enrichment packages include the benefits of basic packages but include materials that enable staff to enrich their personal life, health or professional life. This can be seen at Perks at works career enrichment programs or in our Life works wellbeing platform. These benefits incur high development costs and maintenance costs and are usually outsourced to more equipped companies. As evident considering the recent Health Assured allegations, not all these providers are necessarily equal in terms of quality. This will have a high impact on total cost as often these necessitate the need for highly skilled and specialized workers such as counsellors, accountants or mentors.

At Live Like Loyalty, we are proudly partnered with globally renown healthcare provider TELUS health which utilize some of the best talent in the industry to provide the highest quality services such as complimentary counselling to our customers. It also enables customers access to a nationwide network of perks on top of our renowned local perks. Our packages for this platform start at £7.59 decreasing with size. These services provide a more holistic catering to staff needs and thus we would suggest paying £7.50-£9 per head. For larger organizations please use our pricing sheet and add create a range of 15% above and below our provided price to account for variations in profit margins on the company at hand. 

of employees stay with their employer longer when provided an employee benefits package²
£ 6
Allowance for larger businesses
0 %

Packages which tend to command the most premium prices and most value to staff are Telemedicine staff. The packages necessitate highly skilled doctors to be available at all times of which accounts for the majority of the associated costs. Again, the quality of which varies with provider, however at Live Like Loyalty we guarantee same-day telemedicine packages with highly trained professionals that are qualified to provide prescriptions remotely, anywhere in the world. We pride ourselves in providing some of the best yet cheapest service for this in the industry.

Our packages start at £9.50 per head for the smallest of organizations. For larger organizations please use our pricing sheet and add create a range of 30% above our provided price to account for variations in profit margins on the company at hand. However, with medicine packages it is important to note that the T&C’s really matter, and thus the company should be as transparent as possible as to how often and where staff can access this.

of employees stay with their employer longer when provided an employee benefits package²
£ 6 0
Higher allowance for larger businesses
0 %

Ultimately, although employee benefits are heavily dependent on the value you receive from the packages, we hope that this article has provided insight into the costs associated with staff perks and the importance of transparency. The aforementioned guide prices will be of particular use to small or medium organisations of whom tend to be taken advantage of within the industry. For a general overview of some of the most renown providers in the industry, please read our article on ‘the best staff providers’.

Prices