Employee gift cards present employers with a viable system to show appreciation to their employees and inspire motivation in them. Along with direct cash incentives and rewards, gift cards are one of the most preferred methods for receiving benefits and rewards for employees as well. Let’s discuss a few points to explain why gift cards work as well as they do.
Motivation and Productivity
Everyone needs clear goals and objectives to work at peak capacity. It’s both necessary and recommended to share the big picture with your employees. You should explain how crucial they are for the business to reach those landmarks and aim for an even bigger picture. They must also be shown how reaching those goals and meeting those objectives will also benefit each one of them individually.
Effective as such presentations and meetings can be for inspiring and motivating employees to be more productive, they must be reinforced by introducing a goal/target/performance based employee reward system. Smaller, incentivized goals work better, as far as motivating peak productivity in employees is concerned. It builds an experience based sense of trust and loyalty towards the employer.
Most importantly, achieving smaller goals and being rewarded for them makes an employee far more receptive towards the bigger ideas and long term goals of the business as a whole. Now, for a smaller organization, using cash as an incentive at every step is an impractical strategy. However, they can start using a points based internal reward system to achieve similar results at a comparatively lower cost.
Vast and Versatile
The pool of options to choose company gift cards from is just as vast, as they are versatile. You can buy reloadable gift cards in bulk with rewards that can cover almost anything from online shopping to coffee at Starbucks. The limits of what a particular company’s gift card program may or may not include is determined by the company and never for a lack of available options.
Fast and Easy
Initiating an employee gift card program is just as easy for the management as it is for the employees to redeem. If it’s a third party eGift card (Amazon, iTunes, etc.), they will be ready to use on arrival. All rewarded employees will also have the option to redeem their gift cards almost instantly after receiving them. If the gift cards are part of an internal company reward points system, they will activate, start gathering points, and become redeemable as per the concerned company’s employee rewards policies.
If speed is of the essence, then the company can opt for a virtual gift card system. They will work in the same way as physical gift cards, but everything from delivery to redemption will be an almost instant process. In fact, carefully chosen virtual gift cards also make it easier for employers to reward their overseas employees. Note that virtual gift cards and physical gift cards are not alternatives for one another. Instead, they are complementary to each other, providing a much wider range of options to both employers and employees.