One of the easiest and most effective ways to obtain higher levels of employee engagement is the giving of employee reward programs. Employees want to feel valued for their loyalty and the hard work they do for your company. Several studies discovered that non-tangible employee awards like digital gift cards are as effective and well-appreciated as cash incentives. It generates an increase in happiness and performance of your workforce.
Why are digital gift cards the ideal employee reward program?
It empowers employees. Although people like receiving something and getting rewarded, make sure that you are giving them what they want. With a gift card, it enables an employee to pick the reward of their choice. It can be satisfying for you to allow your employees the freedom to choose their awards and when to redeem them; you are also contributing to their sense of excitement. Enabling someone to make their own decisions, including e-gift cards, triggers positive behaviors.
It creates a memorable experience. A cash-based incentive means extra money, just that. People typically perceive this reward as compensation rather than acknowledgment and recognition. On the other hand, rewards like gift cards give a sense of trophy value, generating a lasting memory of the accomplishment. Memorability is what makes non-cash rewards more ideal than cash.
For example, two individuals receive an award for being the best employee of the month. One selects cash and will likely be excited to use it on everyday purchases. Meanwhile, the other one chooses a gift card, tells the good news to his loved ones, and also earns peer recognition from his colleagues. The employee, together with his family, will think of something special on where to use the gift card. While both employees will enjoy their rewards, the gift card makes the experience more memorable.
It is more acceptable. Rewarding specific employees with cash tend to stir up a negative feeling among other employees, such as inferiority. It can impact the relationship among the team members and the reasons for inner conflicts.
Also, neither asking someone about money nor bragging about it is typically socially unacceptable. The recipients of cash-based incentives may only find themselves in uncomfortable situations because of it. To avoid such scenarios, opt for digital gift cards as employee awards, so that the recipient feels more comfortable showing their high spirits to their peers. Conversations about non-cash rewards motivate others and promote team building without bringing jealousy and insecurity into the picture.
It is a flexible, simple, and cost-effective option. A gift card has simplicity and flexibility, which makes it an effective employee award. Set a budget for your recognition program, and there is a gift card for it. The decision-making process is also easy with gift cards. Choosing, ordering, issuing, storing, and using digital gift cards in itself is no trouble at all. With digital gift cards, it removes the need for storage. More importantly, you do not need to pick gifts for each recipient, no need to worry about delivery as it can be done through email or think about other complexities.
Recognition and reward are essential for establishing a positive culture in your company. Employees work with great energy and effort all year round to finish projects and accomplish targets. They need to feel valued and acknowledged for working tirelessly. With employee awards, you can give credit where credit is due, as well as give workers a reason to continue moving forward.Email This Post