Employee recognition gift card programs represent a fast and straightforward way of achieving high staff engagement levels within your company. Everybody wants appreciation for their work. By showing that appreciation, companies can increase productivity, build motivation, and boost staff loyalty to the organization. However, showing appreciation via monetary rewards can be expensive, not to mention complicated. For this reason, many smaller businesses avoid offering incentives to their employees. A great alternative is open to companies of all sizes — gift cards.
Over 44% of all employees in one survey agreed that they preferred to receive gift cards than other rewards. In fact, research has proven that gift cards are equally as effective as cash-based incentives. They show similar increases in happiness and productivity among the workforce. But why? Here are some of the benefits of choosing gift cards as an employee reward.
Gift cards are a simple reward solution, so it isn’t surprising they’re great for employee recognition. They’re incredibly flexible, and when you choose virtual gift cards, they’re even more versatile.
Gift cards are available in different values, so you can offer a value of incentive that is appropriate for the recipient and their accomplishment. There are also many types to pick from, including a wide variety of brands.
A gift card is easy to buy, store, and issue. Virtual gift cards are incredibly convenient as well, since they don’t need to be physically shipped. They are also ideal for “spot rewarding.” E-gift cards allow managers to show their appreciation for staff on the spot, without any delay.
More companies these days have a global workforce. Rewarding employees who live and work overseas can be complicated. A virtual gift card for employees is far more straightforward, and you eliminate the need for postage, because you send it via email. Rybbon supplies gift cards for use in many countries around the world. Whether your workforce is in Europe, Asia, Australia, or the U.S., there are options available.
Another exciting benefit is that gift cards help create memorable experiences. Employees often view cash rewards as compensation, not recognition. On the other hand, gift cards are more desirable, as they have a trophy value. They create lasting reminders of each achievement. Recipients all too often spend a cash reward on everyday purchases. Employees can spend gift cards on memorable treats. You can offer your employees the chance to have an experience with their gift card, which is better than cash.
A cash-based incentive can sometimes have the effect of making other members of the team feel inferior. That can have a negative impact on team bonding, which is not the aim for incentives at all. In addition, recipients of gift cards often feel more comfortable about sharing news of their reward with their colleagues. These conversations can actually help with team building while motivating staff members without any jealousy. Even better, recipients may share their achievements via social media platforms. As a result, the reputation of the organization can receive a boost.
Rybbon supplies an extensive range of gift cards that are ideal for employee recognition gift card programs. Contact us to learn more about our selection and how to choose the best ones for your staff members.