Rewarding your employees for their dedication and achievement is the most effective way to cultivate a positive workplace culture. The recognition is invaluable for motivating and engaging your staff. An efficient employee reward system reduces attrition and attracts the best talent. Employee Gift cards are great incentive options for companies as well as employees.
Keep reading,
- Gifting cards program – Why you need one
- What are gift cards for employees?
- What are the types of Employee gift cards?
- Gift card benefits
- For the company
- For the employee
- For our environment
- Tips for a successful gift cards program
- How to deliver a successful gift card program?
Gifting cards program – Why you need one
A major problem team managers and HR pros face is finding a suitable employee reward. There are options such as cash rewards, non-monetary incentives, social recognition, and so on, but a reward must feel valuable. Cash awards are common but people quickly forget them and they buy routine things or pay their pending bills with extra cash. Social recognition is good, though employees still need to receive a tangible gift to take home. Gifts are great, however, the uncertainty of choosing a suitable gift is a big dampener. Gift cards are a terrific option for companies and employees.
What are gift cards for employees?
Gift cards are prepaid cards that hold a specific amount of money available for purchasing items that the gift card holder selects. Gift cards approved by HR and aligning with your business culture and liked by employees make the best reward for your incentive and recognition program.
What are the types of Employee gift cards?
Employee gift cards can be categorized into two types based on their spending flexibility.
- Closed loop – Gift cards that one can redeem at specific stores or for particular brands fall under this category. Amazon gift cards or vouchers are the perfect examples for this category. These can be availed when you buy things at Amazon.
- Open loop – Gift cards under the Open-loop category can be availed across multiple locations, stores, and brands. Open-loop gift cards provide flexibility to their holder, unlike closed-loop cards, which put restrictions on what the employee can spend the amount on.
Gift card benefits
For the company
- Firstly, a company can build a more memorable and exciting employee rewards program with gift cards as it offers numerous benefits.
- HR team members find gift cards a practical option as they do not have to spend hours selecting gifts for their employees.
- Whatever budget you allocate to the reward program, you are sure to find an appropriate gift card.
- The process of purchasing, storing, and gifting gift cards is hassle-free. There is no stress about choosing perfect gifts, no need to buy gifts in bulk, and almost no requirement for storage with digital gift cards.
- Gift cards can be bought in advance and distributed online. So they are quite helpful for spot rewarding, and there is no delay in appreciating the employee.
- Finally, employees openly share the joy of receiving appreciation and gift cards on social media channels. HR can customize the gift card with the company logo and name to increase brand awareness.
Benefit For the employees
- HR can choose the gift card per employees’ interests to make it more meaningful and rewarding for them.
- Gift cards and vouchers are favourite among employees as they get to choose the gift and how and when to spend the amount.
- Besides being a favourite, it is a tangible award that the recipients feel proud about. Employees talk about their achievements and rewards to their co-workers, which works as a motivation booster for staff.
- The family also enjoys the experience of getting reward as well because they are the ones mostly selecting the gift. They are likely to support the employee’s goals and develop positive feelings towards the organization.
For our environment
For our environment
Gift cards care for the environment. Gift cards are a great option as far as sustainability is concerned. Digital gift cards are environmentally friendly as it does not involve logistics. It involves no gift packaging and printing, so there is a waste reduction.
Tips for a successful gift cards program
Giving Gift cards and vouchers to your team can be a quick and easy way to create memorable experiences for the employees. Employee gift cards have become popular incentives as they are the most practical, flexible, and valuable rewards preferred by employees and HR teams. To structure the reward program well, here are some tips to keep in mind:
How to deliver a successful gift card program?
Make sure your gift card program gets appreciation from your employees:
- Hand-pick the choices. Select gift cards from brands or establishments that the recipient already frequents.
- Ensure gift cards compliments the store offerings. Pick gift cards for stores and restaurants that offer hassle-free redemption experiences.
- Celebrate the employee’s reward. Present the rewards in person and in the presence of their co-workers. Show your appreciation for their outstanding work.
- A gift card and a heartfelt congratulation and appreciation message will do wonders for morale and inspire the employees.
- Use open-loop cards whenever possible. Most brands widely accept open-looped cards, allowing employees to choose from various options. Open-loop gift cards give you the freedom that closed-loop gift cards don’t provide.
- People value gifts that are thoughtful and meaningful. So, personalize the gift card per the employee’s interests and create a lasting impression.
- Give the employees the power to choose. With gift cards and vouchers, the receiver can choose their gift and has the freedom to redeem it whenever they want.
- Ensure a seamless store experience where an employee can enjoy and delight in the buying experience.
- Last but not least, express appreciation when the achievement is fresh in everyone’s memory. Waiting for the reward and recognition is demotivating.
Rewards and recognition programs are about letting your employees know that you care and appreciate them. The program’s success depends not only on the nature of the reward but also on the recognition that comes with it.
For finding a perfect gift every time, check out Advantage Club Rewards Gift cards for excellent rewards and recognition ideas.
