Holiday Gift Cards- Use Them or You May Lose Them
Total holiday spending on gift cards last year totaled $27.8 billion. And if history is bound to repeat itself, 25% of that gift card money will remain unspent by the end of 2012. Gift cards are a very popular holiday gift. They are convenient for the giver and stress free for the receiver. However, gift cards tend to be forgotten as the holiday season winds down, and recipients are less likely to spend the balances as the year goes on. So what happens to unused gift card balances? The Securities and Exchange Commission allows retailers to count unused gift-card balances as income once they can reasonably say the card won't be redeemed. Some states require unused gift cards to go to an unclaimed-funds accounts, or put a time limit on the validity of gift cards. Beyond the reasonable timeframe to claim unused balances, retailers can use the balances for general purposes. So, as we move further into 2012, consider this a friendly reminder to spend your holiday gift card balances sooner rather than later.
For more information check out the TheStreet.com.
Using Health and Wellness as a Public Relations Tool
CITGO Petroleum is using local health and wellness programs as a fantastic opportunity to highlight their local efforts and community involvement in America. CITGO is giving Lehigh Valley Health Network $5,000 in small denomination gift cards as part of CITGO's "Fueling Good" program. This program uses CITGO gift cards as small rewards for individuals involved in the Lehigh Valley Health Network's Health and Wellness program. The gift cards lower program costs for Lehigh Valley Health Network and allow them to continue their important work. Gift cards are an extremely effective tool for use in health and wellness programs. They help reward participants for desired behavior, and don't cost the program administrator that much. As is the case in this situation, gift cards are also a great way for program sponsors to get involved with health and wellness programs. CITGO was able to come in and help facilitate the positive program, while gaining favorable publicity.
To learn more about the Lehigh Valley Health Network's Health and Wellness program and the partnership with CITGO Petroleum click here.
5 Tips to Keep Your Employees Motivated in 2012
Think of these 5 tips as your new year's resolutions as an employer. As 2012 goes into full swing and the economy and job market continues to struggle and maintain instability it is important for the success of your business and your employees that you keep employees motivated this year. 1. Act as a role model to employees, this will help inspire them and help employees realize their work passions. 2. Clearly define the organizational vision, mission and strategy as well as employee goals and objectives. This helps keep motivation specific and focused. 3. Delegate challenging and meaningful work. Minimizing busy work, and maximizing meaningful projects helps employees see their direct impact on the company. 4. Create individualized personal development plans with employees. This shows employer dedication and commitment to employees. 5. Monitor employees progress toward goals and reward good behavior. Rewards do not need to be big, a small denomination gift card can be just enough to reinforce the good behavior without costing the company too much.
For more on how to motivate employees check out the Forbes.com article.
How to Avoid Getting Your Customer Loyalty Strategy Wrong
Customer loyalty is key in the market companies currently compete in. Not only is the economy still recovering from a major recession, but the pace of media messaging causes consumer fragmentation that has never been seen before. Maintaining customer loyalty can make or break companies and their bottom lines. Here are three ways companies often get customer loyalty and brand loyalty programs wrong:
Preparing for Your Small Business' 2013 Health and Wellness Program
As we head into 2013 and employees commit to the New Year's Resolutions to quit smoking, lose weight, or generally live healthier lives it is the perfect time for your small business to implement a health and wellness program. Here are a few tips on starting the year off right for your business and your employees.
Lead the Way Lead by example. If employees observe you living a healthier life style they will take note, and be more motivated to follow suit. If you live a healthier life, and offer a health and wellness program it gathers integrity for the program because employees see the business owner participating.
Designate a Leader Appoint a leader to charge ahead with implementation of the program. Provide a framework, and a budget to work with, and really let someone in your organization make this program their own. This will also plant roots for the program within the organizational community. A peer leader is bound to give strength to a health and wellness program.
Make it Relevant Know your audience. Use motivators and carrot rewards, like gift cards, that will hold intrinsic value with your employees. Having a variety of rewards for goals achieved, whether it is a goal weight reached or another health goal, is important. Providing gift cards to a variety of healthy living retailers such as
CVS/Pharmacy,
NutriSystem, or
GNC is a great way to support employees on their way to healthier living.
Involve Your Insurance Company Many health insurance plans now offer a wellness program or reduced rate on wellness options such as massage, yoga classes, gym memberships and more. Inquiring with your insurance provider about what might be available to your employees could build in more incentive for employees to participate in a health and wellness program.
For more information on Health and Wellness program ideas for 2013 check out this article from SmallBizTrends.com.
