How a Total Rewards System Benefits Employers
Using a total reward system for employees can benefit an employer as well. Offering rewards and incentives, as well as professional development opportunities for employees, helps control employee rewards cost as well as enhancing employee satisfaction. Incorporating even small rewards such as gift cards for a family meal at the Cheesecake Factory, or a shopping trip at Whole Foods Market or CVS/pharmacy, in addition to regular benefits and compensation can go a long way in keeping employees satisfied and content in their jobs. Here are 4 ways a total rewards strategy can benefit your employees, as well as your business.
5 Tips for Motivating A Virtual Workforce
Virtual workforces, like the atmosphere we share at GiftCard Partners, are becoming more and more common as we can work together and share projects through digital channels. However, virtual workforces need alternate forms of employee engagement and motivation. Fostering team camaraderie and sharing common goals requires innovative solutions from organizational management. Here are 5 ways to motivate your virtual workforce, from an employee of a virtual company who couldn't help writing about such a relevant topic!
Employer vs. Employee Perspectives on Employee Incentives
One of the most important challenges that employers share is undoubtedly reducing health care costs, while maintaining the perception of high healthcare value being offered to employees. But, employer and employee perspectives can be greatly skewed.
Why Gift Cards are the Smart Choice for Employee Reward & Recognition Programs
Chicken or Steak; Obama or Romney; Comedy or Drama; Yankees or Red Sox; Gift Cards or Cash? We may not have all the answers, but according to Incentive’s “2012 Gift Card IQ” survey, gift cards trumps cash.
The use of gift cards in the incentive industry grew from 27.8 percent last year to 36.7 percent in 2012. Not only are companies using gift cards as a way to recognize or reward employees during the holiday season but the survey shows that they are increasing the frequency of which they use gift cards throughout the year and the amount spent on them. The survey seems to be holding steady states Incentive Magazines Leo Jackson, “…the best word to describe the results of Incentive’s “2012 Gift Card IQ” survey, compared to the 2011 version, is stability. By and large, this year’s results were within a couple percentage points of last year’s in virtually every category.”
It looks like gift cards are on the rise while cash rewards could become a thing of the past. Some interesting findings from the survey include:
