Combat Rising Automotive Costs with Gift Card Rewards
As we navigate through 2024, rising automotive maintenance and operation costs are becoming a significant concern for many Americans. While fuel prices remain a pressing issue, the broader impact of vehicle maintenance costs cannot be overlooked. Recent data from the U.S. Bureau of Labor Statistics indicates that automotive maintenance and repair costs have surged by 5.7% over the past year, adding to the financial burden on households. In response to this growing challenge, companies looking to reward and support their employees should consider offering AutoZone® and Jiffy Lube® gift cards.
Using Carrots to Raise Retention Rates
Using carrot rewards, which reward employees for desired behavior, have been proven effective in rewarding employees in a number of ways. Carrots can be used in health and wellness programs to reward employees for reaching goals, they can be used as spot rewards, to reward employees on the spot for desired behavior, but carrots are most traditionally used as milestone rewards. Rewarding employees for long-term commitment to their organization goes a long way. Whether it is a gift card on their one year anniversary, extra vacation time after 5 years, or a watch after 10 years, recognizing employees efforts, commitment and sacrifice over time is crucial. It both recognizes the employee's contribution, and shows the employee that their organization will continue to support and recognize them. When employees feel noticed and supported their productivity goes up, their commitment extends, and they become more content in their jobs and their workplace. Dangling carrots may help boost retention rates and keep employees content for longer.
For more information on using carrot rewards to improve employee retention check out this article from Daily News and Analysis.
How to Create Superstar Employees
When employees are distracted, stressed, or discontent in their personal lives they often bring that negative energy into the work place. Combine outside stress with the general workplace grind and you are bound to have some unhappy employees. They feel disengaged at work, not supported by their organization's management and begin to resent their position, their professional environment, and ultimately try to change their professional situation. The Corporate Leadership Council shows some staggering statistics about recent employee (lack of) organizational engagement. 60 percent of organizations report that they are experiencing a leadership crisis, which is an increase of 40 percent from just a year earlier. Weak leadership often also leads to a restless, dissatisfied workforce. Worse yet, the number of employees that are “highly disengaged” has doubled since early 2008. So how do you combat this negative energy in the workplace? Focus your organization's employee investment dollars on the time employees spend outside of the office. Reward employees' desired behavior with spot rewards such as a gift card to a restaurant employees can enjoy with their family, or create a points system so employees can save their rewards points and redeem for bigger incentives, such as an extra vacation day. According to research done by the Corporate Executive Board employees who feel they have a better work-life balance tend to work 21% harder than those that don’t. So instead of investing in employees work time, invest in employees non-work time, so that when employees are at work they are mentally present, physically present, and just as invested in their job, as their employer is in them.
For more information on creating a positive workplace environment check out this Care2 article.
Gift Card Rewards for International Employees, Customers & Partners
Chances are, you have European employees, customers, business partners, resellers, or affiliates in Europe. Rewarding those constituents for a job well done or recognizing that they’ve gone above and beyond is important to keep them engaged in their work, loyal in their business dealings, motivated in their camaraderie, and incentivized to succeed.
Building Comprehensive Employee Wellbeing with Gift Card Rewards
As businesses increasingly recognize employee wellbeing as foundational to both employee performance and organizational success, it’s clear that a holistic approach is essential. Gallup’s 2024 report on employee wellbeing highlights the need for companies to address five interconnected elements of wellbeing: career, social, physical, financial, and community. Yet only a small percentage of employees feel their employer supports these elements. This gap can leave employees feeling undervalued, risking burnout, low engagement, and attrition.
