GiftCard Partners Blog

According to a new study from the Midwest Business Group, more than 80% of the nation's largest employers use a carrot and stick approach when it comes to their corporate wellness program. Using this approach allows employers to reward for desired behavior, while creating penalties for employees who participate in unhealthy behavior, such as smoking. As the full implications of the Affordable Care Act take effect and employee benefits costs continue to rise, employers place more value on employee healthcare benefits savings, by both maximizing the health of employees and lowering the cost of their healthcare benefits. Here are some quick facts about employers who use a carrot and stick incentive strategy to manage employee wellness.

Step 1: Create a safety program. Step 2: Make it successful. Still struggling with Step 2? Many strategies have been tried, from payroll bonus, discipline, performance review, to issuing penalties. But the question still remains, what works best to foster a safety culture within the workplace? The answer could be as simple as corporate wellness incentives in the form of gift cards. They are a flexible and affordable way to incent and reward for accident prevention, increasing morale and productivity, and encouraging feedback.
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New research released from Fidelity Investments shows employers across the country are doubling spending on health and wellness programs. The study shows that corporate employers are planning to spend an average of $521 per employee on health and wellness programs in 2013, up from just $260 4 years ago. The increased cost is indicative of the success of health and wellness programs in controlling overall organizational healthcare costs. Over the past several years organization health care cost has been rising at a phenomenal rate, that is prohibitive to some employers. Since the largest percentage of the cost comes from preventable conditions caused by employees bad habits such as high blood pressure, diabetes, and high cholesterol,  employers are looking to promote a healthy lifestyle among their workforce to bring overall cost down. Here are a few easy strategies for energizing your workforce around an organization-wide health and wellness strategy.

As health care costs are on the rise many companies scramble to find the best way to counter the issue and the answer could be ‘in the incentives.’

Aon Hewitt just released a survey from 800 large and mid-sized U.S. employers, representing more than 7 million U.S. employees and found that 83 percent offer employee incentives for participation in a variety of wellness programs that strive to improve employees health. Out of these 83 percent:

We’re finding that people are still questioning why companies across the U.S. are spending $22.7 BILLION
¹ on gift cards as incentives in corporate employee programs and what this segment of the B2B gift card market is all about. AND we’re also finding that corporations and companies of all sizes are STILL surprised to learn that there are savings to be had on bulk gift cards purchased for employee motivation, employee engagement, and employee rewards.  Why are 52% of U.S. businesses using gift cards to recognize and reward employees, sales folk, partners and customers.
² Dig deep into how gift cards are utilized in the workplace to motivate, incent, and reward in employee programs.[hs_action id="2877"] 1 & 2 Source: IRF Market Study: B2B Gift Cards