Cashless – The Employee Benefit that Saves Cash
Employee satisfaction with Cashless Catering Technologies
The Employee Benefit that saves Cash.
Today’s employers are acutely aware of the benefits gained from comprehensive employee engagement and benefit programs. There is now overwhelming evidence that for every dollar spent on these programs, employers recoup this investment in higher productivity, lower absenteeism and lower employee turnover. When it comes to attracting top talent and maintaining a competitive advantage through human capital, a comprehensive employee benefit program is seen as absolutely essential by organisations in the fight to attract top talent.
On-site catering services (either free or subsidized) are often a central tenant of these programmes. Eating together helps bonding and acts as a catalyst for positive team culture. Colleagues will invariably have work-related discussions while they eat, and there is less time lost from employees leaving the building. Moreover, it also gives the organisation an opportunity to make positive interventions in employee’s nutrition intake, encourage healthier eating habits and reap associated rewards.
However, corporate catering services can often deliver unfortunate “moments of truth” to employees that diverge from the organisation’s desired experience. When asked about the difference between a buffet restaurant and a canteen, many employees respond by identifying the queue as a key differentiator between these nearly identical dining formats. Scott Mautz, author of 'Find the Fire: Ignite Your Inspiration and Make Work Exciting Again' defines the employee happiness equation as follows:
Happiness = Reality – Expectations
He posits that organizations need to mind the gap between these two experiences, and apart from the negative impact from this gap in experience, there are also huge financial benefits for organizations who reduce canteen queueing time.
This can be demonstrated with the following example:
If an office has 500 employees, all on minimum wage (€9.55 in Ireland) and everyone spends 5 minutes per day queueing in the canteen, then the total opportunity cost of the queue in salary terms is €1,989 per week, or €103,458 per year. If these minimum wage workers have a productivity value of €20 per hour to the organization, then the cost of the queue jumps to over €216,000 per year. If you’ve got a canteen, and high-value output per employee, then there’s a huge opportunity to improve the experience and deliver considerable value to the organization by tackling the queue, and that’s where LoyLap can help.
At LoyLap, we are commencing the rollout of our latest cashless catering ecosystem at Regeneron in Limerick in association with Brook catering services. Regeneron have been named in the “Top places to work 2018” and recognize the cost of queueing to the organization. LoyLap’s advanced cashless catering system, coupled with Clover EPoS has demonstrated to increase canteen throughput by 70%. If you take the time to work out what your canteen queue is costing you, and want to save 70% of that cost, then visit our website to find out more about our cashless catering service.