Selecting the right gift card for your incentive program is crucial to its success. It's not just about satisfying your employees; it's also about staying within budget. Here are the "three C's" to help you maximize your gift card incentive program:
-
Cache: Finding the perfect gift card can be challenging. You need a card that will excite and motivate your employees. Consider what retailers your employees prefer and choose a gift card that allows them to purchase products they genuinely desire. Whether it's a card for their favorite clothing store, a popular electronics retailer, or a well-known restaurant chain, selecting a gift card that aligns with their interests will make it feel like a special reward.
-
Cost (to you and your employees): When purchasing gift cards for your incentive program, it's essential to consider any additional fees associated with them. Avoid cards that have dormancy or maintenance fees, as these can eat into your budget and disappoint your employees if their cards lose value over time. Some companies even charge fees just to purchase their cards, so be mindful of these hidden costs. Ensure that the gift cards you choose provide full value to your employees without any unexpected deductions.
-
Choice: Flexibility is key when it comes to gift cards. Look for cards that offer a range of face values, allowing you to tailor your rewards to different levels of achievement. Avoid cards that have strict dollar amounts or minimum purchase requirements, as these can limit your options and may not align with the varying needs of your employees. Additionally, consider the purchase options available with the gift cards. Opt for cards that can be used both in-store and online, giving your employees the freedom to shop whenever and wherever is most convenient for them.
By considering the "three C's" – Cache, Cost, and Choice – you can ensure that your gift card incentive program is both effective and efficient. Taking the time to select the right gift cards will not only motivate your employees but also demonstrate your appreciation for their hard work and dedication.
