Employees Would Like to Purchase Non-Traditional, Voluntary Benefits at Work

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Tue Mar 24, 2009 8:30am EDT

Computers, Laptops Are Among the Items Employees Say They Want through Payroll
Deduction

ATLANTA, March 24 /PRNewswire/ -- Many full time working adults whose company
provides them with employee benefits say they would be at least somewhat
likely to purchase computers (45%) and home appliances (37%) through payroll
deduction at work if the option were available.

The recent nationwide survey of 868 working U.S. adults employed full-time by
companies who provide employee benefits was conducted online by Harris
Interactive(R) on behalf of Purchasing Power(1).

According to the survey, more than three-fourths of full time employees whose
company provides them with employee benefits (76 percent) said they would
purchase a desktop, laptop, high definition television or home appliance
(washer, dryer or refrigerator), power tools and/or a lawnmower in the next 12
months if credit or financing were not an issue.

However, in today's economic climate, many people are holding off making
purchases.  Some employers offer payroll deduction plans to aid employees in
acquiring these types of items.  The survey asked full time employees whose
company provides them with employee benefits how likely they would be to
purchase items like computers and household appliances if they could do so
through payroll deduction.  Specifically, 45 percent say they would be "at
least somewhat likely" to purchase a desktop or laptop; 38 percent indicate
they would be at least somewhat likely to buy a high definition television;
and 37 percent report they would be at least somewhat likely to buy a home
appliance (washer, dryer, refrigerator) if they were able to do so through
their employer.

In fact, nearly one-fourth (24 percent) of full time employees whose company
provides them with employee benefits said they would be "likely or very
likely" to purchase a laptop or desktop computer through payroll deduction if
it were an option.  For high definition televisions, 19 percent of these
adults said they would be likely or very likely to purchase through payroll
deduction if possible, while 17 percent said they were likely or very likely
to buy home appliances. 

"Providing non-traditional voluntary benefits as part of the benefit package
is a logical service employers can offer their employees, especially in
today's economic climate, to help them acquire life-enhancing products should
they choose to do so," said Richard Carrano, Purchasing Power President and
Chief Financial Officer.  "Although it's a benefit fully paid for by the
employee, offering this type of employee benefit helps employers show they
care about their employees and want to help.  Adding a benefit like this also
helps raise employee morale in today's economic environment," he added.

Purchasing Power, a voluntary benefit provider of employee purchase programs,
helps working Americans to purchase life-enhancing items such as computers,
electronics and appliances, through a disciplined, payroll deduction option. 
With its short pay back period, only 12 months, and with payments
automatically taken from the paycheck, employees who struggle to acquire
consumer goods in today's economy due to higher interest rates on credit cards
or tightened access to credit have another choice.

"Purchasing Power gives employers another great way to improve their
employees' lives during our country's unprecedented economic downturn,"
Carrano continued. "We are especially cognizant of those employees who do not
have the means to pay in full upfront or have the ability to qualify for
traditional financing during these lean credit times."

According to a November report by the Federal Reserve, nearly 60 percent of
banks severely tightened their lending standards on credit card loans and 65
percent on other consumer loans in the last three months.

Survey Methodology
Harris Interactive(R) fielded the study on behalf of Purchasing Power from
January 28 through January 20, 2009, via its QuickQuery(SM) online omnibus
service, interviewing a nationwide sample of 2,219 U.S. adults aged 18 years
and older, of which 982 were employed full-time, with 868 of those at a
company that provides employee benefits. Data were weighted using propensity
score weighting to be representative of the total U.S. adult population on the
basis of region, age within gender, education, household income,
race/ethnicity, and propensity to be online. No estimates of theoretical
sampling error can be calculated; a full methodology is available. 

About Purchasing Power
Purchasing Power is a voluntary benefit provider of employee purchase
programs.  Through Purchasing Power, employees can buy computers, electronics
and home appliances through the ease of payroll deduction.  The company is
licensed in all 50 states as a reseller of personal computers, consumer
electronics, and home appliances, maintaining relationships with the major
manufacturers, as well as several resellers, distributors and other suppliers.
 For more information, visit www.PurchasingPower.com.

About Harris Interactive
Harris Interactive is a global leader in custom market research. With a long
and rich history in multimodal research that is powered by our science and
technology, we assist clients in achieving business results.  Harris
Interactive serves clients globally through our North American, European and
Asian offices and a network of independent market research firms.  For more
information, please visit www.harrisinteractive.com.

(1) Survey, Harris Interactive and Purchasing Power, January 28-30, 2009.

SOURCE  Purchasing Power

Charlotte Andrist or Juliann Kaiser, +1-770-643-0615, both of Kaiser Marketing
Group
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