Giving employees and customers what they really want for rewards.
What do employees really want? What would customers like to receive as a “thank-you”? Do employees and customers really appreciate the rewards or recognition companies give them? Those are the critical questions companies face as they plan their recognition programs. In order to get the most from your company’s rewards and recognition budget, it’s important to choose a reward that people will enjoy getting and using.
According to a recent study from Incentives Magazine, 8 out of 10 employees surveyed say they would prefer a rewards card over other gifts, such as something they select out of a catalog or a memento chosen by a manager. Unlike a clock, a plaque or other reward merchandise, prepaid rewards cards are versatile and useful. They can be used to purchase necessities or whatever the recipient wants. If the employee wants to use it on something that will also treat family and friends, he or she can do that. Or if an employee wants to splurge on something from a favorite store and also get something practical like groceries, a rewards card allows for multiple purchases at multiple places.
The most popular type of rewards card is a prepaid Visa® card because it can be used for so many things. In fact, other than cash or a check, a Visa rewards card offers the recipient the most flexibility since it can be used for online purchases or in-person purchases at a store, restaurant, gas station or entertainment venue.
The rising popularity of prepaid rewards cards as employee recognition or customer thank-yous mirrors the steady increase in gift cards given as personal gifts. According to research from InComm, a transaction services company, 92 percent of respondents said they had given two or more gift cards as gifts in 2016. Gift givers and recipients prefer gift cards because they are convenient, alleviate the stress of shopping and give the recipient control so they can get something they truly want.
Similarly, prepaid rewards cards reduce costs and time associated with selecting, shipping and packaging merchandise awards, while giving employees and customers the chance to pick out exactly what they want from a favorite restaurant or retailer.
Reward Cards—Give them choices
Recognize employees’ extra efforts with a prepaid rewards card. These cards come in various dollar amounts and employees can use them in stores, online or over the phone for anything they would like. Whether it’s groceries, gas, clothing, something for the kids, or a nice dinner out with family or friends, the choice is theirs.
Read this article to see how Ryan Companies rewards their customers and employees.