Recruiting and retention are challenges in the retail industry which is characterized high turnover, low pay and few benefits. Yet, it’s important for companies in this industry to attract and keep top shelf employees with strong sales and customer service skills.
Finding innovative, low or no-cost benefits for employees in this non-traditional industry is easy with non-traditional benefits like Purchasing Power. Our employee purchasing program can help close the gap for employees who may not qualify for other benefits. Our no-cost, no-liability benefit provides a responsive, affordable way for low-earning employees to access products and services, including educational services that are often out of reach.
Experience by two of our clients in this industry illustrates the point. One client is a supermarket chain with more than 690 stores. They were looking for a voluntary benefit to support retention by boosting morale and improving the quality of life for its associates. A client for seven years, this company has nearly 20,000 eligible associates - with an annual participation of 20 percent. Likewise, a drugstore chain with 4,600 locations was seeking innovative benefits to support its recruitment and retention efforts. Making Purchasing Power available to more than 62,000 employees yielded an annual penetration of 11 percent with 96 percent repeat buyers.
Introducing Purchasing Power to potential clients in this industry will help these companies meet their benefit goals, provide innovative benefits to their employees, and increase your revenue stream at the same time.