The shift: the current way of offering perks is so 2010

A decade ago, when employee perks first emerged, they were considered “nice-to-haves” and employees’ expectations for them were low. Companies offered things that we today consider “fluffy” like snacks, beer, ping pong, and massages.

And because perks were considered a bonus by employees, there weren’t any formal processes or programs around them. There was often free beer in the fridge and snacks lying around, but it wasn’t a big deal when there weren’t.

Fast forward to today. Expectations are higher than ever and perks have transitioned into a “must- have” for every company.

Employees are expecting more than free snacks, and demanding more meaningful perks, such as schedule flexibility, wellness, student loan forgiveness, childcare, and continuous education.

Perks are now part of a critical talent-retention strategy that is becoming increasingly customized and expensive.

However, there's a problem. As the number of perks continue to increase in an organization, so do the three main problems they create:

They're difficult to manage

The process of purchasing perks hasn’t evolved since perks first emerged. HR professionals still have to pick, pilot, purchase, manage, and maintain a bunch of individual perks and vendor relationships themselves. And that's on top of all they already do.

Read on: Has Your Organization Reached The Perks Tipping Point?

They only support some team members

Traditional perks are not inclusive by nature. By offering one perk, companies are forced to forfeit something else that others would like. Depending on your team, traditional perks will always leave some people out whether it's those who can't stay late for happy hours, don't like to work out with colleagues, or are remote. 

Read on: Three Hidden Costs of Perks


They're not measurable or scalable

Currently perks administrators don't have software to manage it all, so they're left using email filtering and excel documents to manage the many vendors, price-points, product increases, and budgets. This is inefficient, time-consuming, and doesn't even track the usage of these perks.

Read on: The Number of Perks is Growing, and So are the Problems They Create 

The solution: Lifestyle Spending Accounts

Offering employees lifestyle spending accounts (also known as perk stipends or perk allowances) is a strategy gaining traction because it's win-win; employees get personalized perks that they want and need, and HR is able to eliminate the administrative burden of managing perks, and also gain insights as to adoption and ROI.

If you're unfamiliar with the concept, a lifestyle spending account is an employer-created account for employees to spend money on perks. Employers put the perk money in the hands of their team members, so they can get the perks they want and need most. 

Interested and want to learn more about LSAs? Read our definitive guide on Lifestyle Spending Accounts and stay ahead of the trend. 

Example lifestyle spending account

In the example below, Sam's company has allocated $100 per month for her and other employees to spend in the following categories: continuous learning, health & wellness, and food.

Why the time is now for Lifestyle Spending Accounts?

Welcome to 2020; the age of personalization. 

Spotify, Amazon, Facebook, Netflix, Google, our cars, social media feeds - everything, can be personalized. 

Because of this, employees have begun to demand more from their employers.

According to the Deloitte Global Human Capital Trends of 2018, 77% of companies agree that the next generation of rewards for employees is important, but only 7% of companies feel their perks are personalized to meet the needs of their employees.

We know that some companies are having a hard time keeping up with this growing trend.

Compt helps you solve this problem.

Introducing Compt; the new way to offer employee perks

What is Compt?

Compt is an HR software that helps companies offer perk stipends so they can better administer, personalize, and measure their employee perks. 

With Compt, companies can transform a one-size-fits-all employee perk program into a stipend that supports the individual needs of every employee.

We're your easy button for perks. 

Increase the number of people using your perks 

Offer student loan forgiveness, gym subsidies, pet insurance & everything else employees want without increasing budget.

Make your perks meaningful & inclusive

Support all employees regardless of location (remote or satellite office), life-stage, or other individual preferences.

Eliminate administrative burden for HR

Use lifestyle spending accounts & Compt to manage all, or some, of your perks in less than 30 minutes a month (yes, seriously!).

We believe if the world were to create perks from scratch today, we wouldn't create the perks system we have -- we'd build something completely different, and that's what we're building at Compt.-- Sarah Bedrick, Compt Cofounder.

What we're not:

  • A vendor aggregator. We do not place limitations on who you, or your employees, can buy from. We believe in 100% personalization, and to achieve that, that means no pre-selected vendors.
  • A discount platform. We love a good discount, but that's not our goal. We're focused on providing employees with unlimited perks.
  • Vendor management system. Picking, purchasing, managing, and maintaining all of your perks is already a full-time job. Lifestyle Spending Accounts through Compt alleviate that administrative burden, while giving your employees everything they want.

Below are the three ways customers are enhancing their perks through Compt.

How customers are using Compt today

transform current stipends

Transition existing stipends

Stop dropping cash into employees' checks. With Compt, your investment is more visible & employees more proactive.

supplemental perk add-ons

As an add-on for supplemental perks

Offering every perk is impossible, achieve 100% personalization by adding a supplemental perk stipend to your already-awesome program.

 [Most common]

total perks program

Provide all perks through Compt

Skip the vendor management process altogether and go straight to an entirely personalized perk program.

We’re huge fans of Compt here, and I personally love it!"

rachel sullivan

Rachel Sullivan

Employee, Metis Communications

Compt lets us say “yes” to the varied requests we get for perks, by putting the choice in the individual team members’ court.

heather doshay vp of people

Heather Doshay

VP of People, Webflow

A lot of problems have popped up with perks lately, which are you facing most?

What is your biggest obstacle with perks?


Tired of managing all perks & the administrative burden?

Uncertain of the perks your team really wants?

Haven't found a way to motivate your remote employees?

Trouble aligning perks with company values?

We're here to make your job easier.

At Compt, we understand the struggles you go through to make your organization happy. Let us help make your employees happier and your job easier, so everyone can shine brighter.