Gift cards work remarkably as far as employee rewards go, but why? What makes them so irresistible and a no-brainer corporate incentive to implement? Well let’s find out.
Employees receiving gift cards will tend to remember their achievement better over cash rewards. It’s crucial that the recipient remembers what they were rewarded for to begin with. Picture this,if your company gives you $100 in cash, you would probably end up using it to buy daily necessities. And most likely, you won’t remember that reward in a few month’s time. But if your company rewards you with a $100 gift card to your favorite fashion store, you would probably remember it for a long time to come. Hence, making you feel thankful and happy.
Employees receiving gift cards will have a guilt-free shopping experience. Since gift cards tend to be seen as bonus money, they will usually end up using it to buy things they normally wouldn’t. For instance, if you received a gift card to the new fine dining joint in town you would be able to justify going there.
Naturally there will be long-term positive feelings toward the organization. It will be deemed as more thoughtful instead of giving away cash. This is because gift cards can be bought and tailored according to each recipient’s needs, hobbies and interests. So when an organization rewards using gift cards, they will be seen as caring and attentive.