As an HR leader, you know employee expectations have evolved. Traditional benefits alone no longer cut it — employees crave choice, flexibility, and personalization. They want benefits that reflect who they are outside of work just as much as inside it.
Enter the Lifestyle Spending Account (LSA) — a modern lifestyle benefit designed to help organizations go beyond one-size-fits-all rewards. LSAs are transforming how forward-thinking HR teams drive engagement, retention, and well-being.
What Is a Lifestyle Spending Account (LSA)?
A Lifestyle Spending Account (LSA) is an employer-funded benefit that gives employees the freedom to spend allocated dollars on lifestyle and wellness categories that matter most to them.
Instead of choosing from a limited list of perks, employees use their LSA to support their unique lifestyles — whether that’s a gym membership, a mindfulness app, continuing education, family care, or even pet wellness.
This flexibility makes LSAs one of the most impactful ways for HR leaders to modernize their total rewards strategy.
Why Lifestyle Benefits Are the Future of Employee Engagement
Traditional benefits tend to be rigid — designed for a workforce that no longer exists. Lifestyle benefits like LSAs bring agility and inclusivity to the modern benefits mix.
Here’s why LSAs are becoming a must-have for HR leaders:
1. Personalization That Drives Satisfaction
Every employee’s life looks different. LSAs let employees tailor benefits to their unique priorities, ensuring their rewards feel relevant and valuable.
2. Empowerment Through Choice
When employees can decide how to spend their benefit dollars, they feel trusted and empowered. This autonomy translates into stronger engagement and loyalty.
3. Inclusivity for a Diverse Workforce
LSAs adapt to all lifestyles — parents, remote workers, young professionals, and everyone in between — helping HR teams create a culture of inclusion and care.
4. Adaptability as Employee Needs Evolve
Needs change. LSAs are built to change with them, ensuring your benefits program remains meaningful over time.
5. Retention and Recruitment Advantage
According to Forbes, 40% of employers believe workers leave to find better benefits. LSAs make your benefits package stand out, showing prospective and current employees that you truly value their well-being.
How LSAs Work with LIVD
LIVD makes it simple for HR teams to launch and manage Lifestyle Spending Accounts — all through one intuitive platform.
Here’s how:
- Effortless Setup & Management
LIVD’s digital platform makes it easy to administer LSAs and other lifestyle benefits in one place. You can track participation, adjust budgets, and measure impact — all without the admin headaches. - Monthly Credit Allocation
Employers allocate credits directly to employees’ LIVD accounts. Those credits can be redeemed for lifestyle benefits like fitness, wellness, food, travel, and more. - Flexible Spending Options
Employees can choose to spend their credits monthly or save them for something bigger — offering true flexibility and control. - Extensive Benefit Selection
LIVD partners with hundreds of brands across North America, offering everything from pet care to wellness retreats. - Ongoing Support & Seamless Onboarding
LIVD provides personalized onboarding, employee support, and resources to ensure your team gets the most from their lifestyle benefits.
The Employer Advantage: Building a Culture That Retains Talent
Lifestyle Spending Accounts are more than just a perk — they’re a strategic tool for retention and culture.
When employees feel recognized as individuals and supported in their personal lives, they’re more likely to stay engaged and loyal. LSAs send a clear message: We care about you as a whole person, not just as an employee.
By offering personalized, flexible benefits through LIVD, organizations can:
- Strengthen their employer brand
- Boost engagement and morale
- Reduce turnover and burnout
- Create a more inclusive, people-first culture
Looking Ahead: Lifestyle Benefits as a Cornerstone of Total Rewards
The future of employee benefits is personalized, flexible, and lifestyle-driven. LSAs are leading that shift — helping HR leaders modernize how they reward, recognize, and care for their people.
With LIVD, offering Lifestyle Spending Accounts is easy, impactful, and scalable. You’ll give employees the freedom to choose benefits that truly fit their lives — while building a workplace where people feel valued, inspired, and connected.
Ready to elevate your benefits strategy?
Book a demo with LIVD
