GiftCard Partners Blog

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

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.

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:

The Prepaid Expo tells us in the form of this infographic. We know our retailer and merchant gift card clients struggle with many of these challenges. There are additional challenges for those, like our clients, who are selling their prepaid products in the B2B market, and GCP supports and guides them through these challenges and those that will crop up. What % of these strategies and challenges are you dealing with?

Motivating employees is about ensuring that your employees feel appreciated and supported by the organization. Showing your employees you care is the best way to get them to invest their time and energy into their jobs and make a difference. The most important piece of employee motivation is showing that appreciation and giving rewards in a way that works for the employee you are trying to reach. Quiet, hardworking employees do not want public attention drawn to them, but giving a gift, reward, or praise in a one-on-one atmosphere will show them appreciation and motivate them, rather than make them uncomfortable in front of their peers. To an innovative thinker, knowing a bit more about the "big picture" and how their work affects that makes a big difference. Taking time to provide them some more strategic information, in addition to a reward will go a long way. Analytical employees want to know how their piece fits into the greater puzzle, and want to be compensated based on the size of their piece. Giving them spot rewards, such as a restaurant gift card, for small achievements, and larger bonuses for reaching long-term goals will show this employee organizational appreciation, and motivate them into the future. Tailoring motivation and rewards to how an employee will best recieve the praise is important. If you reward and motivate an employee, but the delivery embarasses them, belittles them, or does not speak to their professional goals or intellecutal style the impact of the reward and motivation could be lost.
For more information on how to motivate effectively check out this Time Magazine article.