Learn how to improve your organization’s health, retention and overall well-being with a successful reimbursement allowance program. In today’s competitive market, employee retention is the key to operating a successful business. People are the heart of any organization, and it’s critical for companies to do as much as they can to ensure their employees are happy and engaged at work. Increasing employee engagement helps to increase productivity, creativity and loyalty, leading to higher employee retention. Employees who feel valued do better work. They’re more likely to form relationships with their colleagues, and less likely to leave a company that shows them appreciation. Employers can show that appreciation through a number of outlets, including competitive compensation and core benefits, fitness and wellness programs, Employee Resources Groups (ERGs), workplace benefits and company events. But is that enough? According to an article on Forbes, employers need to stand out by offering career advancement opportunities and employee benefits that help limit their out-of-pocket costs while promoting healthy, low-stress lifestyles. Reimbursement programs do just that by allowing organizations to give back to employees for participating in self- initiated activities that enhance their well-being. What Are Lifestyle Spending Accounts (LSAs)? Simply put, Lifestyle Spending Account (LSAs) reimbursement programs are a way for companies to pay their employees back. Unlike typical business expense reimbursements, which cover activities like corporate travel and client entertainment, HR- driven reimbursements cover activities like fitness, health, volunteerism and continuing education. By paying employees back for engaging in the kinds of programs that help them better themselves, companies are investing in their teams’ overall growth and wellness. These programs also give employees the autonomy to decide what they want to use their allowances or reimbursements on. Most companies on the “Fortune 100 Best Companies to Work For” list offer reimbursements. No company can please every employee with workplace programs, company events or ERGs, but reimbursements are different, since they allow the employees to decide how to use their budgets. Espresa’s data shows companies that implement these programs can see employee engagement rates reach as high as 95%. f In fact, a study by Deloitte revealed that 67% of employees would consider reimbursement for well-being expenses to be highly valuable, but only 26% of employers surveyed in the study actually offer such reimbursement. 2 espresa.com | Increasing Employee Engagement With LSAs + Reimbursemen t Programs