Help your employees save for holidays

Looking forward to a break this summer? Everyone needs a holiday. It’s vital that staff at every level of an organisation get some space each year to be refreshed and invigorated, or to simply rest a while. We are all the better for it and sharing holiday snaps and stories can entertain people and keep them smiling for weeks afterwards even as the tan fades.

Helping your employees get away for a restful break without worrying about their workload on their return is a great idea. But what about helping them save for their holidays and cut costs while abroad? Reducing the stress of paying for holidays can really be appreciated by your employees. However, it’s counterproductive if the effort of saving up for a fortnight’s break involves 50 weeks of overtime, scrimping and saving, or, worst still, spending the next few years paying off the credit card.  

Is this really your problem? Well, it is if you want happy, motivated employees working as a team. Importantly, it’s really easy to do something that helps engage and boost staff morale as there are various ways to help employees save for summer holidays (the same principles and methods could be used for putting money aside for Christmas, too).

There are some simple steps you can implement to relieve the pressure for staff when planning their holidays. One way is to introduce a scheme where employees can ‘buy’ additional or more fluid days off. You could run salary sacrifice options in which you negotiate corporate discounts with relevant third parties. A number of major travel firms offer these corporate deals, and preferential rates for travel insurance could be possible through affinity arrangements with larger brokers. Speak to your benefit provider or contact us if you need a recommendation. One of our favourite offerings is a simple one. Lower costs at airport parking. This serves as a little reminder while departing and arriving that your company has helped you save more cash!  

The most straightforward way to help your staff save for a holiday or Christmas, is to offer them a Better With Money workshop. These friendly, responsive but effective sessions provide lots of general financial insights and ideas. They also address some of the more individual challenges and ambitions, motivated to help everyone become better with money, and save for this year’s holiday and the longest one of their life – retirement!

Providing your staff with a level of care and support to enable them to get away from it all will certainly put them in a better mood for the rest of the year. In fact, the prospects are sunnier for all concerned. Don’t forget to have a great break and switch off.