As you plan your company’s employee recognition programs, it’s important to choose a reward that employees want and will use. In order to get the most from your company’s rewards and recognition budget, consider a prepaid rewards card.
According to Incentives Magazine, eight out of 10 employees surveyed say they would prefer a rewards card to 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.
Prepaid rewards cards can be used to purchase whatever the recipient wants. If the employee wants to use it to treat family and friends, they can use the card to do that. Or if they want 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 or in-store purchases.
Prepaid rewards cards have become a popular idea for employee recognition or customer thank-yous, as shown by 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 more freedom to get something they truly want.
Similarly, prepaid rewards cards reduce costs and time associated with selecting, shipping and packaging merchandise awards.
Giving a prepaid rewards card is an employee recognition idea all organizations can use. They come in various dollar amounts and employees can use them in stores, online or over the phone for anything they would like. Whether its groceries, gas, clothing, something for the kids or a nice dinner out with family or friends, the choice is theirs.
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