A satisfied employee is one of the biggest strengths of any organization. Prioritizing your employee’s satisfaction will help increase your profits, decrease employee turnover, and improve the company’s overall performance and productivity.
Did you know according to a survey conducted by Glassdoor, 57% of job seekers said benefits and perks are among their top considerations before accepting a job? (Source)
Therefore it goes without saying, keeping your employees satisfied is definitely in your best interests.
Nowadays, organizations are pushing their envelopes to offer attractive employee benefits to keep them satisfied. And one of the benefits that have gained a lot of traction in recent years is employee meal cards.
With the rising cost of food, providing employees with meal cards ensures they can purchase food without putting a strain on their budget. Meal card or food allowances benefit not only employees but also employers since it offers businesses tax exemption of up to 100% and reduce the burden of collecting receipts one by one. (Source)
What is the purpose of offering meal cards to employees?
Tax-free meal cards have emerged as an attractive benefit for both employers and employees. With the rising cost of living, many employees struggle to keep up with the expenses of daily meals. On the other end employers are looking for cost-effective ways to provide benefits that improve the quality of life for their staff.
Tax-free meal cards offer a simple solution to this problem, allowing employees to purchase meals without incurring additional taxes, and providing employers with a cost-effective way to offer a valuable benefit.
Quick 5 Benefits of using Zaggle SAVE
Tax-free meals for employees
Using the Zaggle Save Meal card, your employees can save Rs 42,000 in yearly taxes. Since employees with food allowances are eligible for tax exemptions through meal cards which are accessible via Zaggle mobile app.
Easy to manage and disburse funds
Zaggle Save’s intuitive dashboard makes distributing funds to employee food wallets easier with a single click. You can also customize the food categories for your employees. Moreover, you can essentially administer, and monitor the organization’s payout, keeping each department constantly updated.
Convenient for employees to use
Over 7 Million+ VISA/RuPay food outlets accept the Zaggle Save meal card. This list includes online and offline stores, restaurants, food courts, and more. It also uses contactless payments which eliminate the need to carry physical cards. Furthermore, your employees get exclusive cashback offers on all transactions made through the wallet.
Boosts employee morale and productivity
Offering cost-efficient ways to save taxes can motivate employees to give their best at the organization. As they will acknowledge the thoughtfulness of their organizations going the extra mile to help them save taxes, which in turn will certainly increase their loyalty, productivity, and morale.
How to disburse the amount to each employee?
Help your employees save tax with Zaggle Save’s flexible employee benefit plan. It digitizes your employee benefits program with a single Zaggle Save card that comes with added tax-free benefits.
Onboarding: Once a company is onboarded to the platform, employees are enabled for the meal card and other benefits.
Grant benefits electronically: Grant your employees benefits by adding funds to their accounts via the corporate dashboard and scheduling a payout on the selected date.
Reap advantages: Your employees can easily reap benefits using the Zaggle Prepaid Card and manage it via the Zaggle mobile app and website.
Conclusion
To sum up, employee satisfaction and retention are essential for businesses to thrive in today’s competitive world. Offering employee meal cards like Zaggle Save not only helps employees with their daily expenses but also shows them that their organization cares about their well-being.
With Zaggle Save’s easy-to-use platform, employers can efficiently manage and distribute funds, and employees can enjoy exclusive cashback offers and contactless payments. By providing tax-free meal cards, businesses can foster a positive work environment, increase employee loyalty and productivity, and ultimately achieve their long-term goals.
