Over past some years companies have turned to cash while it comes about giving employees the annual and quarterly bonuses, but a lot of companies are now turning to gift card industry while it comes about rewarding their employees or customers. So, here are some reasons why giving the gift card is compelling than money. Let us see some top reasons and also make sure you check Visa gift card balance before using.
- Word of mouth: The employees are likely to share the achievement with others as well as discuss on what they are redeeming these gift cards on.
- Trophy Value: The gift cards are also seen as highly memorable in creating the long lasting reminder of the achievement.
- True Gift Perception: The gift cards aren’t viewed as a part of the compensation that is generally perceived by the cash rewards.
- Discrete: Society finds this impolite to discuss the cash awards; conferring that gift cards can be seen socially acceptable.
- Guilt-free card spending: the recipients do not feel any guilty in treating themselves.
- Universal Benefits: The gift cards will combine benefits of the merchandise with benefits of cash
- Family Support: As participant’s family gets involved in selecting the awards –they are likely to support participant’s goals.
- Improve work performance: The studies have also show that the cash does not improve the work performance –but gift cards really do.
- Long-term feelings towards organisation: The gift cards reinforce some positive associations with the sponsoring organizations.
- Pleasing your loved ones: There’s the strong motivation to get an award for significant other and children.
The gift cards allow the employees the complete power of choice however with added trophy value, which the cash awards will not give. The companies can benefit from making use of the gift cards as a part of the incentives or rewards and any benefits package because of ease of use, flexibility, as well as low administrative expenses. With a lot of incentive programs that are provided nowadays, offering the gift cards in the conjunction with loyalty program is another way of building your customer relationship.