At the heart of a company are employees, and it’s common knowledge when employees feel appreciated they tend to surpass expectations at work. With this in mind, it’s important organizations embrace reward systems to motivate employees to put their best foot forward. The recognition of employees who deliver stellar results creates an atmosphere for better performance and productivity to thrive.
Furthermore, developing a reward and recognition system goes a long way in retaining employees. When done correctly, a well-designed reward system is a motivator that fosters healthy competition which in turn impacts the overall productivity of the organization as employee morale is given a boost which reflects positively in their individual and teamwork performance. A reward system everyone can see with its criteria spelled out helps build trust and creates transparency between employees and employers, eliminating despair and dissatisfaction.
There are several ways employee appreciation or recognition can be shown, from physical incentives like foodstuff and groceries to team hang-outs and the list is endless. However, as the world moves from physical trade to e-commerce with the bulk of transactions happening online, organizations should not be left behind as others move with the tide. Giftcards are here to stay and they’re here to solve all the hassles experienced with getting physical incentives.
Giftcards are prepaid cards with a stored value which can be used by anyone they’re given to. Giftcards can access goods in physical or online retail stores globally and locally. They’ve got fixed monetary value in them as placed by the person or organisation gifting them. The merits of using Giftcards as a form of employee recognition to incentivize employees are a lot, nonetheless, permit us to give a few below:
1. Ease and Convenience: A Giftcard is an easy way to show appreciation, and it’s also a convenient way to give employees the freedom to choose what they want as a reward, arming them with a variety of choices. A giftcard is chosen with the recipient in mind, implying the boss or organization is humane and thoughtful about their interests outside of work and cares about what makes them happy, helping to promote a work-life balance.
2. Memorability: As much as we believe money is a legal tender that should always be doled out and dispensed, most times how we give out this money makes all the difference. Cash given to employees to cater for everyday expenses is good, but Giftcards are better. Giftcards give a memorable experience. Employees are more likely to use it for something or someone special, like a night out at their favorite restaurant with friends and family, a spa treatment with a loved one or even splurge on their fantasy list. All of these and even more help to make Giftcards a better way of incentivizing employees.
3. Speed of use: The tangibility of Giftcards provides your employees with an instant reward as opposed to waiting for their next paycheck or even months between performance reviews. This creates an immediate sense of accomplishment and fulfillment.
4. Cost-effective: Giftcards come with major discounts making them cost-effective. A case in point is where you want to get your employees a meal ticket at a fancy or upscale restaurant, as opposed to the normal walk-in price that may be pegged at 15,000 Naira, a Giftcard can get the same meal at a 10 or 20 percent discount, helping the organization cut costs but still obtain same value.
Overall, Giftcards are a great way to give your employees something more than just a bonus or perk. Not only do they enjoy the experience that comes with it, but it also helps to create memorability and a bond between the organization and the employees. It also helps the organization save costs and eliminate hassles. Give your employees a Giftcard today and join the league of employers who enjoy supercharged and super motivated employees out-beating and outwitting competition.
