What is Travel Benefit?
Many studies have shown that travel can have a significant positive impact on our physical health and mental wellbeing – improving our mood, reducing stress and anxiety and even boosting our immune system. However, with employees’ disposable income reduced, holidays may feel like too much of a luxury for a lot of people right now. Our Travel Benefit - in partnership with Travel Accounts - means employees can book their holiday or leisure activity when they want and spread the payments with no added interest.
Employees can select a specific value, within the parameters set by you, to put towards booking their holiday, and this cost will be spread over 12 months and deducted from their net pay.
Employees can use their selected value to book flights, accommodation, package holidays and leisure activities with hundreds of partners, including Hoseasons, Butlins, Expedia, Kuoni, TUI and Sandals.
The team of travel experts at Travel Accounts will be on hand to help your employees book everything from weekend city breaks to round-the-world adventures. They can even use it to book days out and experiences.
The Travel Benefit provides a low-risk, zero cost, high-impact way for you to support your employees’ financial wellbeing with a relevant and attractive benefit to all employees across all life stages.
How does this benefit impact employees?
Holidays are a large expense, and can have a significant impact on employees' financial wellbeing and subsequent stress. The average family typically spends around two months' salary on their annual holiday. (Source: Travel Accounts).
The Travel Benefit allows employees to:
- Book their holiday when they want and spread the payments over 12 months with no added interest.
- Take advantage of seasonal sales and booking discounts to save on their holiday and help make their salary go further.
- Improve their wellbeing without the immediate impact on disposable income.
- Book a voucher experience, festival or theatre ticket for a gift or special event, without worrying about the immediate cost.
- Book last-minute travel, for example in cases of family emergencies, and pay off the flights over a 12 month period – alleviating stress from an already difficult situation.
- Huge range of holidays and travel options to choose from
- Makes holidays affordable as the cost can spread over the year
- Online booking tool with full offline support
- Employees can book at any time for convenience
- No interest fees
- No credit checks
- Employees can access the benefit easily and seamlessly from their Reward Gateway platform
The Travel Benefit is easily managed through SmartPay, Reward Gateway’s centralised administration platform that helps clients automate their net payroll and salary sacrifice benefit schemes with deduction reports, easy-to-manage application processes (including auto-approval) and more.
There are no platform or implementation fees to add this product, either from Reward Gateway or Travel Accounts.
Find out more
Please contact your Client Success Manager to ask for more information on this benefit and how this can be added to your Reward Gateway platform.