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.
Engage Effectively by Knowing What Your Employees Want
In order to effectively use an employee rewards program you have to know what will drive your employees. Knowing what is most important to your workforce is critical in motivating them to reach their maximum potential. Here are a few key factors that could drive your employees. Find out what matters most to them, and plan your employee engagement and recognition accordingly.
25 Intriguing Things About Prepaid You Should Know
A great post from Prepaid Expo; they outline some interesting financial prepaid stats, usages, mobile stats and more. Interesting information about the decline in use of cash; this is a fact that employers can keep in mind when planning employee incentives and rewards. Prepaid and gift cards aren’t just as good as cash…they ARE cash and loaded on mobile devices, they are the cash of the future! Here are the tidbits most interesting to us, click below for the whole shebang: - $82 billion. That's the amount expected to be loaded onto Prepaid cards in 2012. - Consumers are using prepaid cards as a way to access wages, direct deposits increased by nearly 70% in 2011. - Mobile POS payments is expected to grow from $362.6 million in 2011 to $1.4 billion in 2017. - The use of cash is predicted to decline 3% a year until 2015, through 2015, the use of cash will decline by nearly $200 billion. - Cash point-of-sale purchases is expected to drop to 23% by 2017.
More interesting stats from Prepaid Expo
Give gift cards as benefits and rewards...the right way
Giving gift cards as benefits and rewards can be extremely effective when used correctly. Here are some quick tips to maximize the effect of your gift card employee reward program.
1. Don’t award too many cards too often- Maintain the trophy value of the rewards by only giving rewards when specific goals or targets are reached.
2. Don’t wait to give the gift cards to winners- Spot rewards can be even more meaningful, with more trophy value given their surprise nature.
3. Do include public recognition- Make sure other employees know why recipients earned their reward, so they can become positive role models for the rest of the staff.
4. Don’t use gift cards as extra compensation or a pay bonus- Use gift cards as rewards for desired behavior or upon completion of reaching a goal.
5. Do combine the cards with an overall incentive program- For example; if your organization runs a health and wellness program, use a gift card to reward employees who reach their health and fitness goals.
6. Don’t get too narrow with card choices- Giving a wide variety of card choices makes the reward more useful for employees.
7. Do tell employees about any limitations or conditions on a gift card- Be up front about expiration dates or conditions to using the reward, so employees know what to expect and can use their cards in an appropriate timeframe.
For more information on the best ways to use gift card as incentives, rewards, and benefits check out this Business Management Daily article.
Safety Programs and Incentives
Although safety programs are effective for cutting workplace injuries in all workplace environments; manufacturing is an optimal industry segment to promote workplace safety incentives. Workplace environments can be harsh and employee safety is a number one concern and constant initiative. Formal safety reward programs provide an important function to motivate employees to take proper safety precautions and adapt to the safer behaviors that your environment demands. If employees are motivated to take safety awareness seriously enough to reduce the likelihood of accidents, and the program is properly structured with measurement methods in place; the company will realize ROI in increased performance, and reduced healthcare insurance premiums. Following are a few examples of typical safety and workplace incentive programs that manufacturers employ:
