Lifestyle Spending Accounts

Flexible benefits that fit every lifestyle

Lifestyle Spending Accounts (LSAs) allow employers to provide an additional—and sometimes tax-advantaged—recurring benefit to enhance the life of employees outside work.

impact of Lifestyle spending accounts

The benefits of investing in your people

Benefit Dissatisfaction

Only 61% of employees are satisfied with their benefits

Benefit Importance

80% of employees would rather see new benefits than a pay raise

Attrition Risk

55% of workers have left positions after finding better benefits elsewhere

Retention Boost

30% of employees cite benefits as the reason they stay at their company

Growing Popularity

According to a 2024 report, 43% of companies are expected to offer LSAs by 2025

Increased Impact

93% of employees consider well-being support as important as salary

What Are Lifestyle Spending Accounts?

Better benefits for a better lifestyle

Like an HSA but with a wider net of spending options, LSAs offer employees a tax-sheltered benefit to spend on things they need.

Comprehensive Features

Why admins and employees love LSAs

Easily administrate and facilitate LSAs for global employees, giving them the support they want and need.

Rewards Network
Childcare, pet care, commuting, etc.
Stipends for exercise equipment or gyms
Mental or financial health counseling
Flexibility
Offer equitable rewards on any cadence
Adjust reward amounts to fit any budget
Set up custom catalogs for even more options
Ease of Administration
Track spend, redemption, and budgets
Manage tax-related information
Automate recurring point distribution
Complete Flexibility

LSAs and A-Pay® Cards

A-Pay makes LSAs even easier. Immediately access points, enable spend flexibility, and gather all the right data when employees use their digital or physical card on LSA purchases.

"Awardco has given us incredible power and flexibility with our recognition programs because of the millions of options to choose from, and the ability for employees to choose their own rewards has been a game changer. We know what we’re getting, and our employees couldn’t be happier.”
Cheryl Vincent, Talent Development Manager
363
%
increase in appreciation
18
%
boost in employee satisfaction
Engagement
120
%
increase in performance with effective recognition and rewards programs
120
%
increase in performance with effective recognition and rewards programs

Wow! Mobile Boutique also saw a 10% increase in engagement and a 50% increase in productivity after implementing recognition programs through Awardco.

Work-life balance
87
%
of employees expect employer-supported work-life balance
87
%
of employees expect employer-supported work-life balance

Alera Group enhanced their work-life balance and employee satisfaction scores by building a value-driven culture of appreciation using Awardco.

Wellness ROI
400
%
return on every dollar spent on mental health and wellness in the workplace
400
%
return on every dollar spent on mental health and wellness in the workplace

Citizen's Business Bank saw a 150% increase in wellness program participation through Awardco.

Citizens Business Bank
Every year, we encourage our associates to go get their annual physical. If you turn [a] form in, you get Awardco points. It's another way to tie healthy lifestyle to what's important to us in the bank to making an impact with our associates.
Jenny Ketchepaw
VP, Talent Engagement
BPM
We use recognition as a tool to motivate and encourage our employees—everyone knows Awardco because we actively use it for any and all incentives for employees.
Monica Delgado
Senior Manager of Total Rewards
PMG
Awardco made it easy for every employee, whether in Dallas or the UK, to feel seen, valued, and celebrated.
Pam Buyers
Head of Culture
Citizens Business Bank
Getting buy in for wellbeing can be kinda challenging because we're all busy. Right? And so now go work out or go do this. And so partnering with organizations such as Awardco, we're trying to think outside of the box and create different types of challenges.
Jenny Ketchepaw
VP, Talent Engagement
 
 
Thought Leadership & Resources

Employee benefit resources

Blog
Employee Turnover Rates by Industry: Trends and Solutions
Customer Story
Customer Story
Webinar
AI and the Future of Employee Engagement
White Paper
Customer Story
White Paper
White Paper
3 Drivers of Employee Engagement ROI
Customer Story
Customer Story
Recognition as a culture cornerstone: How PMG fuels global success
Customer Story
Customer Story
Customer Story
Combining cultures with recognition through a merge

Ready to see Awardco in action?

Learn how Awardco can build culture, incentivize performance and power engagement for your team.