Millions of UK workers could ease the pressure on family finances if they took full advantage of the workplace discount schemes offered by thousands of employers, according to consultants LCP. 

The schemes are a perk which enable workers to get discounts on regular spending such as supermarket shopping, coffee shops, travel and leisure. According to a recent survey by LCP, around two in five workers already has access to a scheme of this sort in their workplace, and around a quarter of employers who do not currently offer a scheme are expected to add one in the next year.

The way that the discounts work can vary. A common approach is to enable members to buy a gift card or voucher for a retailer at below cost price. For example, a supermarket voucher for £100 could be bought for £97. This voucher can then be spent in the normal way and redeemed at the checkout for the full £100. Other ways of delivering discounts can include:

• Reloadable shopping cards 
• Preferential rates for days out 
• Retail discounts 
• Loyalty and discount cards 
• Earning reward points to redeem against future purchases 

Although the discounts on any individual purchase may be modest, workplace discount schemes typically cover a wide range of purchases including consumer durables where a small percentage discount could still amount to a big cash saving. A calculator illustrating the amounts people could save based on their spending patterns can be found at: See how much you can save with the LifeWorks Perks Calculator.

Major providers of workplace discount plans include Edenred (Edenred UK | Employee Discounts) who operate in over 10,000 workplaces, Perkbox (www.perkbox.com) , Reward Gateway (Employee Discounts Scheme | Reward Gateway UK) and Lifeworks (Employee Engagement & Wellbeing | Employee Assistance | LifeWorks UK).

Although these schemes are effectively ‘free money’ to employees, some workers may not be aware that their firm offers them or may not realise the wide range of retailers and other partners where discounts can be obtained. With household budgets coming under increasing pressure, LCP is encouraging workers to make sure they take up what is already on offer in their workplace and also calling on more employers to consider offering such discount plans to help and support their employees.

Heidi Allan, Senior Consultant at LCP, said: “Many workplaces offer employee discount schemes which give savings on everyday purchases with household name businesses, such as supermarkets, coffee shops, mobile phone companies and travel businesses. Yet in some cases workers may not be aware of the scheme or may think it is not relevant to them. The truth is that we are all going to face a squeeze on our budgets in the coming months and every penny we can save is going to help.  If your employer already offers a scheme, check it out and see if you can save money every time you spend. And if not, tell your employer that you would value such a scheme and see if you can get one set up in your workplace”.