Edenred Boosts its Multi-Benefits Portfolio with Lifestyle Spending Accounts

Rhea-AI Summary

Edenred has launched a new wellness initiative called Lifestyle Spending Accounts aimed at helping employers enhance employee support and satisfaction. This program allows employees to access a range of wellness-focused services, including family, education, and fitness programs, as well as transportation and entertainment options. The initiative is designed to improve employee engagement and retention in a competitive job market. According to surveys, these wellness programs significantly impact workplace culture, leading to increased job satisfaction and reduced absenteeism.

Positive

• Launching Lifestyle Spending Accounts enhances the benefits portfolio of employers, attracting and retaining top talent.
• Survey data indicates that 77% of employees value wellness programs, which can improve workplace culture.
• The initiative aims to decrease employee sick days and healthcare costs, reflecting a focus on employee well-being.

Negative

• None.

New wellness program helps employers support, care, attract, and retain top talent while developing an engaged workforce

BOSTON, Oct. 26, 2022 /PRNewswire/ -- Edenred, the world leader in specific-purpose payments, has launched a comprehensive wellness program for companies to offer their employees. Lifestyle Spending Accounts give employees multiple opportunities to reduce stress, stay in shape, and get assistance in other areas of their life. Offering Lifestyle Spending Accounts allow companies to support, care, attract, and retain top talent in this challenging job market.

Offering Lifestyle Spending Accounts supports, cares, attracts, and retains top talent in this challenging job market.

Edenred's Lifestyle Spending Accounts offer many programs for employees to take advantage of. Those include:

• Family, Education and Pet Services
• Transportation and Mobility
• Clothing and Household Furnishings
• Restaurants/Grocery
• Automotive
• Entertainment and Active Lifestyle

Lifestyle Spending Accounts are attractive to both employers and employees. Employees evaluate programs to gauge how a company treats its employees. A survey conducted by Virgin HealthMiles Inc. and Workforce Management Magazine revealed that employees care deeply about wellness programs, with 77% saying "health and wellness programs positively impact work culture[1]."

Lifestyle Spending Accounts can deliver higher employee job satisfaction, which translates to a more engaged workforce. PricewaterhouseCoopers conducted a survey in 2021 and found that 44% of employers have added or improved their workplace wellness program to accommodate to the changing workplace landscape[2]. Companies that want to make a big difference in their employees' lives can use Lifestyle Spending Accounts to reduce stress and increase productivity.

"More than ever before, our clients and prospects are coming to us in need of ways to support, care, attract, and retain employees.", says Ed Fleischmann, CEO of Edenred USA. "We're proud to add Lifestyle Spending Accounts to our multi-benefits solution, designed to ease employers' administration. Employers can offer several benefits all in one single platform, while employees can use the benefits with one single card. It is a great way to enhance your company culture with our hassle-free and flexible programs guaranteed to help make your employees' lives healthier and happier."

Edenred launched Lifestyle Spending Accounts because it gives employees more options to improve their general health, well-being, and productivity. Employees will take fewer sick days and employers will have fewer healthcare costs. The programs are customizable, and it's easy for employers to control costs.

Companies that want a competitive benefits package look to wellness programs like Edenred's Lifestyle Spending Accounts. As a multi-benefit company, we are one of the most comprehensive pre-tax and post-tax solutions in the market, increasing the purchasing power of employees. Edenred provides an easy-to-use online platform for account management, the ability to customize employee offerings such as adding pre-tax commuter benefits and post-tax Lifestyle Spending Accounts, on-demand pay, and/or meal benefits, offers many reimbursement options, programs that fit companies of all sizes, and discounts and perks from our diverse partner catalog.

About Edenred

Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting over 50 million users and 2 million partner merchants in 45 countries via more than 900,000 corporate clients.

Edenred offers specific-purpose payment solutions for food (such as meal benefits), mobility (such as multi-energy, maintenance, toll, parking, and commuter solutions), incentives (such as gift cards, employee engagement platforms) and corporate payments (such as virtual cards).

True to the Group's purpose, "Enrich connections. For good.", these solutions enhance users' well-being and purchasing power. They improve companies' attractiveness and efficiency and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products, and softer mobility.

Edenred's 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient, and more responsible every day.

In 2020, thanks to its global technology assets, the Group managed close to €30 billion in business volume, primarily carried out via mobile applications, online platforms, and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good, CAC 40 ESG and MSCI Europe.

The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.E., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their owners.

For more information:

Edenred: www.edenredbenefits.com

	[1]	"Employees Place a Premium on Culture of Wellness but Employers Still Struggle to Communicate and Measure the Effectiveness of Programs, According to New Virgin HealthMiles Survey," BusinessWire, https://www.businesswire.com/news/home/20130603005303/en/Employees-Place-a-Premium-on-Culture-of-Wellness-but-Employers-Still-Struggle-to-Communicate-and-Measure-the-Effectiveness-of-Programs-According-to-New-Virgin-HealthMiles-Survey
	[2]	"2021 Health and Well-being Touchstone Survey," PricewaterhouseCoopers, https://www.pwc.com/us/en/services/consulting/business-transformation/library/touchstone-survey.html

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SOURCE Edenred Benefits

FAQ

What are Lifestyle Spending Accounts launched by Edenred?

Lifestyle Spending Accounts are wellness programs that offer employees various services to enhance their well-being, including education, family support, and fitness options.

How do Lifestyle Spending Accounts benefit employers?

Employers using Lifestyle Spending Accounts can attract and retain top talent while improving employee engagement and satisfaction.

What impact do wellness programs have on employee culture according to Edenred?

Wellness programs significantly impact employee culture, with 77% of employees stating they positively influence workplace dynamics.

When was the new wellness program launched by Edenred?

The new wellness program was launched on October 26, 2022.

How do Wellness Spending Accounts affect employee productivity?

By improving overall well-being, Lifestyle Spending Accounts can lead to fewer sick days taken by employees and higher productivity levels.