Meal benefits are one of the most popular employee benefits in India. They offer employees the convenience of having discounted meals, which can be used to recruit, retain, and engage them in the long run. A meal benefit can be anything from a meal allowance, meal card, or meal voucher.
What are Meal Allowance, Meal Card and Meal Voucher?
Meal Allowance
A meal allowance is a type of employee benefit which allows employees to receive money to cover their meals at work. This benefit can be offered in two ways: a specified amount or a percentage of the employee’s salary. In addition, it can be used for a variety of meals, such as breakfast, lunch, and dinner.
For example, an employer can offer a fixed meal allowance of Rs. 3,000 per month or a percentage of the employee’s salary, say 10%. With a meal allowance, employees can purchase food from various restaurants, caterers, and food delivery services.
Meal Card
A meal card is an employee benefit that allows employees to pay for food from a specific list of restaurants, caterers, and food delivery services at discounted prices. It is similar to a debit or credit card, but instead of drawing money from a bank account, the employee draws money from the meal card.
The employer can offer the meal card to the employees as part of their benefits package. Meal card benefits include paying for meals at discounted prices, and employees can use it to get discounts on food orders at the restaurants and caterers that accept the card.
Meal Voucher
A meal voucher is a type of employee benefit that allows employees to receive a certain amount of money or points they can use to purchase meals at discounted prices. It is similar to a gift card, but instead of buying items from a store, the employee buys meals from restaurants, caterers, and food delivery services.
The employer can offer the meal voucher to the employees as part of their benefits package. The voucher can be used to purchase meals at discounted prices, and employees can use it to get discounts on food orders at the restaurants and caterers that accept the voucher.
Why Offer Meal Benefits?
Meal benefits are beneficial for both the employer and the employee. From the employer’s perspective, it helps to attract and retain talent. In addition, offering meal benefits can help make the workplace attractive to potential employees and can help improve employee satisfaction and morale.
From the employer’s and employees’ perspective, meal benefits offer convenience and savings. Some of its benefits are:
- Increased Productivity: Meal card benefits improve employee productivity by giving staff the time and energy to perform their job duties.
- Cost Savings: Meal card allowance can help reduce employer costs associated with meals and snacks.
- Improved Employee Morale: Providing meal cards can be a great way to show employee appreciation, boosting morale and job satisfaction.
- Improved Employee Health and Well-being: Providing meal cards can help promote making healthier food choices, leading to better physical and mental health.
- Increased Employee Retention: They can help employers retain employees by providing a valuable perk that is difficult to replicate elsewhere.
- Tax Benefits: It can also provide tax savings for employers, as they can be deducted as a business expense.
- Convenience: Meal card allowance provides employees with the convenience of being able to purchase meals without having to carry credit cards or cash.
Sodexo meal cards are a great way to manage employee meal allowances. These cards are preloaded with a set amount of money and can be used at various food outlets, making them a convenient and secure way to provide meals for employees. For employers, Sodexo meal cards offer the ability to provide meal allowances without the need to process paper vouchers or reimbursements. They also provide a more convenient way to track and control meal spending, as each card is linked to an individual employee. Sodexo meal cards provide more flexibility as they can be used to purchase meals from various outlets. Employees can choose the meal that best suits their needs rather than sticking to a predetermined meal allowance.
Meal cards can be used as an incentive to reward employees’ for performance or as a thank you for their hard work. They can also give employees’ access to various restaurants and catering services, which can boost morale and make it easier for them to take a break during their workday. By going above and beyond to appreciate them, employees’ will be happier with a sense of willingness to work. Simply put, happier employees’ are productive employees’.
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