Posts Tagged ‘incentive program’

Incentives for the New Generation

Wednesday, May 28th, 2014

Millennials, those who currently are in the 18-33 age range, will make up 75% of the workforce by 2025. This generation posses an entirely different outlook on workplace culture than the generation before them. Technology is the primary Millennial influence, both in and out of the workplace.

Growing research shows that point system incentive programs have the highest success level, especially with Millennials. These employees want to not only be recognized, but they also want choices in how they are rewarded as well. Points programs are virtually foolproof, easy to understand, appeal to the interests of many different types of participants, tend to have higher participation rates, and are just plain fun!

One amazing employee points program incentive model is the Values In Action program at CVS/pharmacy. An online rewards system where colleagues and managers can recognize one another by granting points that are redeemable for merchandise, travel vouchers, gift cards, and even the option to make a charitable donation.

While points programs work best for Millennials, they can be customized for any diverse workforce. For more information on why points programs are so popular check out this article by Quality Incentive Company.

Incentives to Eat Less and Increase Employee Productivity

Monday, June 17th, 2013

Do you notice your employees coming back from their lunch break just a little slower than when they left? Well studies show that it might be due to that large lunch they ate. A U.S. study by Wellness & Prevention, Inc., published in the April issue of the Journal of Occupational and Environmental Medicine showed the relationship between a large lunch and a slower worker.

According to the report, a company of 1,000 employees had an annual productivity loss of $107,965 due to binge eating. The issue with binge eating is not one to overlook. It not only costs your company money and but also affects the health of your employees. So what to do? “These findings suggest that efforts to improve the health, productivity, and performance of employee populations should include routine screenings and interventions for binge eating behavior,” said Richard Bedrosian, Ph.D., Director of Behavioral Health and Solution Development at Wellness & Prevention, Inc.

So encourage employees to participate in programs that address the issue of binge eating and look to solve it. CVS/pharmacy gift cards or the CVS Select Card, a selectively filtered card that filters out items not supporting a healthy lifestyle, not only offer the perfect incentive for participation in these kinds of programs but also send your employees the right message about the importance of their health.

Using Employee Motivation for Long Term Engagement

Tuesday, June 11th, 2013

Employee motivation is an important dynamic in the workplace and finding ways to constantly motivate employees is a great way to engage employees in their positions and with your organization for the long term. Less turnover means a more stable company environment, more dedicated employees, and a more productive workforce. Creating an environment that nurtures employee learning, focuses on professional development and recognizes employee achievements and hard work, are great tools in employee motivation because it leaves them feeling supported by their organization. When an employee feels noticed by their employer, and feels like they are more than a “cog in the wheel,” they are more motivated to excel in their positions, and use their expendable energy at work to put in extra effort.

It has been proven that employee incentives and rewards are great employee motivators, enforcing desired behavior at the employer’s discretion. These incentives can come in a variety of forms including an extra day/afternoon off, an additional career development training session, lunch with the boss (or other special access to senior management), or fixed cost items like gift cards. Gift cards have specifically been proven to have a high trophy value among employees as they feel rewarded twice- once when they receive the reward and recognition among their peers, and again when they get to spend the balance of the card. Gift cards hold more intrinsic value than monetary bonuses because they carry a unique purpose and often employees can choose where they want to allocate the card. Being able to reward an employee with a value they seek; such as a Boston Market gift card for a working mom, a Whole Foods Market gift card for the health conscious employee, or an AutoZone gift card to the office car aficionado add more meaning and a longer lasting effect on the employee than a monetary reward that could get wrapped up in an extra dinner out, instead of going towards a more useful purpose. The longer the motivation lasts, the greater the workplace engagement, and the better for your company’s bottom line.

For more information on employee motivation as long term engagement check out this article from Employee Benefits.

Corporate Wellness Incentives & Safety Programs

Friday, May 10th, 2013

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.

GiftCard Partners makes using gift cards a budget-friendly choice. Contact us today to get the best discounted rate on volume purchases from some of America’s top selling gift card brands.









 

Employee Investment and Innovation Management

Thursday, March 21st, 2013

Innovation is key to business success. Your organization is constantly striving to stay ahead of the innovation curve, and innovate faster than competitors. The best way to promote innovation in your organization is workforce investment. Investing in your employees is a great way to show support and build a rapport with employees that will increase job satisfaction and retention rates across your organization, leading to a more productive and innovative workforce. Here are 3 easy employee investment strategies that will promote innovation in your organization.

Build Trust: Building trust with and for your employees is crucial to fostering an innovative environment. You have to trust your employees to innovate along with your organization’s vision and direction, while employees need to trust their employer and trust their job security to go out of their comfort zone at work and find innovative ways to get things done.

Cultivate Passion: Set an example with your enthusiasm. No one is motivated by someone who is just getting their job done. Employees look up to other employees who are invested in their work. Employee investment starts at the top, when management is enthused with their positions, so will lower level employees. If you are passionate, the people you lead will also be passionate, and passion often leads to innovation.

Inspire Loyalty: When management is loyal to an organization, employee loyalty will follow. Investing in your employees by providing small rewards for milestones reached with a company, such as an annual anniversary, or even a semi-annual anniversary is a great way to show employees their organization cares. Using small denomination gift cards for employees investment in loyalty to retailers such as Speedway for gas rewards, or Whole Foods Market to help curb employee grocery costs are great ways to show employees that you both notice and appreciate their hard work and dedication, while controlling organizational costs simultaneously.

For more information on using employee investment to foster innovation at your organization check out this article from Noozhawk.com.

Top 10 Trends for Employee Recognition in 2013

Wednesday, January 16th, 2013

Mobile recognition, Social, Interactive, Green…there are many key initiatives rolled up in Roy Saunderson’s Top 10 Trends for Employee Recognition in 2013, but he shows us that it’s not just important to identify the trends, but to also put them in context. It’s not surprising to see gift cards rank in top recognition trends for the new year, but Roy shares his insights around making recognition and incentives meaningful for the employee. “6. Give me the cards I want.”

Employees will no longer be satisfied with mainstay gift cards from big box stores and established suppliers. Employees will demand to receive customized cards from meaningful places they prefer and not just what the employer deems everyone should get.”

This bodes well for GCP’s strategy of bringing the most wanted gift card brands to employers for recognition rewards and incentives. It forces employers to not just toss a cash equivalent gift card at an employee, but to be thoughtful about the gift. Give gift cards to great restaurants so your employees take their families to dinner, pharmacy gift cards so families can be proactive with healthful and personal care purchases, retail apparel gift cards…often a real treat.

Check out the rest of Incentive’s Top 10 Trends for Employee Recognition in 2013

How to be Well: Promote Breaks in Your Workplace

Wednesday, December 26th, 2012

As we close 2012 we all work down to the wire, meeting expectations, goals, and hoping we reflected our company’s values throughout the year. But, did we promote helping ourselves enough? After all, if your employees aren’t well, your bottom line won’t

Click to view the whole graphic & commentary

be.

Check out this clever and wise infographic about how “Taking a Break” can not only keep  your workers happy and healthy, but can boost efficiency, productivity, and even profits. Incenting and rewarding your employees for doing the right things for their mind and body can go a long way towards meeting your 2013 goals.

Check out the full infographic & commentary.

Gas Rewards Fuel Loyalty, Gift Card Sales

Tuesday, November 27th, 2012

We have all seen fuel rewards programs, where businesses reward customers by awarding points for dollars spent at the store. These programs continue to grow with national gas prices, and can be an effective way to drive loyalty, and gift card sales. Offering flexible items such as gift cards, that consumers can then repurpose as gifts holds a huge value for consumers. Their gift dollars go twice as far, since they are earning gas rewards, a huge and necessary expense for most Americans. The value of repurposing every dollar for twice the impact will keep consumers coming back to both the gas retailer and grocer consistently as long as they can continue to gain rewards.

62% of participants in a BlackHawk Network research study indicated that they shop more often at stores with gas rewards, while 41% said they actually spend more in establishments with gar rewards programs. For grocery store owners selling gift cards and other flexible items that can be used as gifts (especially during the holiday season!) drives sales and loyalty to their business. For gas station brands, the loyalty component also exists. Gas station companies participating in fuel rewards can drive sales equally from the grocery stores. For larger gas chains such as Speedway, the opportunity to partner with the category leading grocery stores across multiple regions of the country can drive significant business and brand loyalty.

For more information on has rewards and consumer loyalty check out this article from paybefore.com

How a Total Rewards System Benefits Employers

Tuesday, November 6th, 2012

Using a total reward system for employees can benefit an employer as well. Offering rewards and incentives, as well as professional development opportunities for employees, helps control employee rewards cost as well as enhancing employee satisfaction. Incorporating even small rewards such as gift cards for a family meal at the Cheesecake Factory, or a shopping trip at Whole Foods Market or CVS/pharmacy, in addition to regular benefits and compensation can go a long way in keeping employees satisfied and content in their jobs. Here are 4 ways a total rewards strategy can benefit your employees, as well as your business.

  • Improving the ease of recruitment: The happier your employees are, the more likely they are to refer friends and acquaintances to your company, making recruitment easier and less expensive.
  • Signaling that you’re a progressive company: Consider your company’s brand, offering progressive rewards positions your company’s brand to prospects as an organization that goes above and beyond to care for its employees.
  • Increasing employee engagement without increasing costs: Offering employee rewards increases engagement and cuts costs, while maintaining satisfaction and retention rates.
  • Increasing retention rates: Employee rewards programs can show a company is willing to invest in employees’ future, all while increasing  job satisfaction, and keeping employees in their jobs longer.

For more information on total rewards programs and how they benefit employees as well as their employers check out this article from HR.BLR.com.

Holiday Rewards: Going Beyond the Christmas Bonus

Wednesday, October 3rd, 2012

Although the holidays are still 3 months away now is the time to begin planning your end of year employee rewards. For many companies money is still tight, and often end of year bonuses are still not in the budget. There are still many effective ways to reward your employees at the end of the year. These rewards are the most important rewards you give all year, as they are what will motivate your workforce into 2013.

Many companies give out gift cards during the holiday season, often to restaurants like the Cheesecake Factory. These cards allow employees to enjoy a meal out with their friends and/or family, helping to ease their seasonal financial constraints. Other organizations are giving out gift cards to promote healthy living such as the CVS/pharmacy Select card, to help employees make good on their New Year’s Resolutions.

Other organizations wait until the craziness of the holidays has subsided and throw a big party for employees in January, offering a chance for employees to decompress and enjoy spending time together, outside of the office. However you choose to reward your employees this holiday season, ensure that the rewards you choose are effective in motivating and rewarding your workplace demographic. Give the employees what they want, so they can continue to use their expendable energy on reaching company goals in 2013.

For more information on how best to reward your employees this holiday season check out this article in British Marketing Week.