According to a survey, around 94% of employees feel satisfied with their jobs when regularly recognized for their hard work. Many companies build employee recognition programs to appreciate and reward employees for their contribution to the business. Employee recognition and incentive programs have witnessed a significant shift in the United States. These days, companies use gift cards and other tangible incentives to appreciate and motivate employees. This article will discuss how companies can build effective employee gift card programs to boost employee engagement and retention.
What is a Corporate Gift Card Program?
A corporate gift card program is implemented as a recognition strategy, incentive initiative, and a way to show gratitude in the workplace or celebrate employee milestones. Companies can tailor these plans to the industries, business models, or core values for engaging and retaining a productive and motivated workforce.
Implementing the right employee gift card programs can fuse employee incentives and recognition into a centralized hub. Moreover, the best gift cards are required to improve employee satisfaction.
What Goals or Behaviors Does a Company Want to Encourage?
A crucial step in planning a corporate gift card program is determining the company’s goals and how to meet them. For instance, if a company works based on specific values, employers can reward their employees for modeling those beliefs by giving them gift card rewards.
Determine Headcount and Finances
Preparing a budget for recognition and rewards initiatives should be a priority of companies in today’s culture. Moreover, the number of employees a company is planning to recognize makes a difference when finding the right gift cards. Cost varies with the program size, so ensure to get those numbers in a line to launch the program successfully.
When is the Ideal Time to Reward Employees?
The next step is determining when to organize corporate gift card programs and incentivize employees. New hires, work anniversaries, work accomplishments, birthdays, etc., are the most appropriate occasions to appreciate employee efforts and reward gift cards to them.
Commit and Communicate Details of the Program
Once designated employers have run the numbers, researched, and designed the ideal gift card program, it’s time to lock the program and roll it out. It will only be helpful to communicate the intentions and benefits of the program to the team.
Make the Gift card Rewards More Unique
Everyone, including employees, appreciates gift cards having a personal touch. Companies should select the right gift cards for the right individuals to get the most from rewarding gift card incentives during employee gift card programs. Another way is to offer employees the choice to select gift cards according to their taste.
Everyone finds universal brands appealing, and getting gift cards from popular brands can provide immense satisfaction to employees. Moreover, rewarding employees with gift cards in unique ways can make the recognition programs more effective. Companies should conduct surveys and determine their employees’ preferences and requirements to select the best gift cards for the recognition program. Following this guide can help organizations appreciate employees in the best way possible.