The Prepaid Press recently published
Employers Find Ways to Say ‘Thank You’ to Employees; Prepaid cards Increasing as Incentive of Choice which highlighted Young America’s recent research regarding prepaid cards (such as gift cards) gaining even more popularity amongst corporate HR incentive programs. With company-wide salary freezes and abandoned bonuses, employers are struggling more than ever to retain their best employees. “…employers who want to retain their best employees admit they have fewer resources to do so, and many are turning to structured incentive programs, which cost less than salary increases and often result in high levels of employee productivity, positive feedback and loyalty," said Joe Custer, president of Young America. A few highlights of the survey findings:
- Many holiday gift programs were cut last year, making way for more year-round incentive programs
- 43% of employers said they would use a new prepaid card program for additional employee recognition programs
- 48% would add prepaid cards in place of other types of employee rewards
Source:
The Prepaid Press and
Young America
