GiftCard Partners Blog

The infographic below offers some pretty staggering statistics on how employee loyalty is tied to benefits, and how employees are often less loyal to their organization because they are not aware of the extent of their benefits. If benefits were better communicated and employees were aware of all that their employers were offering loyalty and retention rates would be higher. The lack of communication is apparent, since employee loyalty is at a 3 year low, even as the economy recovers and companies begin hiring again. Happy employees are productive employees, so ensuring that your employees are aware of benefits from health and wellness rewards, to spot rewards like gift cards for a job well done, will result in a measurable return on investment for your business.

CVS & GCP webinar: Healthcare Reform’s Impact on Wellness - How to Incentivize Employees to Engage in Healthy Behavior with Jonathan Edelheit, Editor in Chief of Benefits Live Magazine, incorporating National Healthcare Reform Magazine, Vanessa Cullerton, Senior Manager of Employee Wellness for The Hillshire Brands Company, Stacey Nelson, Manager of Health and Welfare for Sprint, and Edward Shulkin, President of Gift Card Partners, Inc.

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:

Engaging your workforce can be a challenge in any situation, but when your workforce is completely remote it can be even more difficult to connect...or so you would think. Based on a 360 degree feedback study done at an investment firm, remote workers are more engaged in their jobs, and here's why:

Employees who feel engaged and appreciated at work are proven to be more productive, more satisfied in their jobs, and tend to stay in their positions longer. So creating a culture of engagement is key to maintaining your organizations greatest competitive edge: your people. Here are 3 quick rules to creating a culture of engagement in your organization.
The Rule of Common Purpose: Iterating and reiterating company goals and beliefs is key to fostering a common purpose among employees. If everyone feels the sense of common purpose, camaraderie and teamwork will grow. Employees will be motivated to work together to reach the common goals of the organization.
The Rule of Selective Membership: Create an atmosphere where membership is a privilege. Unique environments and ensuring employees feel supported and appreciated by the organization will help to attract top talent and retain it for longer stretches. Providing unique perks such as extra time off or gift cards for a job well done, or in-office perks such as free food, or a lounge space can also help attract and retain top employees. Creating an exclusive environment where employees feel "special" as a part of it can promote engagement.
The Rule of Omission: Since people always remember what you don't do, rather than what you do do, make sure that if you want to engage employees and show your appreciation for them, don't deceive or exploit them in any situation. Creating internal practices that would hold up in an external business context will motivate employees to perpetuate that upstanding way of doing business. What core beliefs does your organization promote?
For more information on how to foster an environment of engagement check out this article from Fast Company.