People love getting rewarded and appreciated for their work. It gives a sense of achievement, builds motivation, encourages engagement, and increases productivity. In the corporate world, reward and recognition programs are common practices to acknowledge the performance of employees and thank clients, referrals, and agencies for their contributions. Gift cards have gained popularity as corporate gifts for employees.
What are Gift Cards?
Corporate gift cards are prepaid cards that are loaded with the reward amount by the company and handed over to the employees for redemption. These cards are not store-specific and can be used across all online and offline stores to purchase diverse commodities.
Gift cards are mostly customizable. They represent the brand with personalized designs and logos and can also carry employee names as a token of recognition. The company can load these prepaid cards once or multiple times per business needs. They serve as a brand identity.
Types of Gift Cards
Many corporate companies who want to reward their employees with gift cards face challenges in deciding which type of card they should opt for. Gift cards are primarily of two types:
Closed-loop gift cards are specific to a particular online or offline store, and the cardholder can only redeem the amount at that store or its branches. Closed-loop gift cards enable the company to restrict the extent of its usage and promote its collaboration with a particular brand.
Open-loop gift cards generally collaborate with a credit card network like Visa or Mastercard, and they can be redeemed across all online and offline stores unless restricted specifically. These cards are highly popular in employee reward programs, allowing staff to choose rewards from any brand.
The Benefits of Gift Cards in Employee Reward Programs
Gift cards are a flexible option for corporate companies to incentivise their employees. Organizations benefit from incorporating gift cards into their employee reward programs.
Corporate gifts for employees are rewards and serve as a brand identity for employees and their acquaintances. The customized gift cards contain the company logo and theme design to create brand recognition and recall. It can also develop a brand image for friends, relatives, and peers of its user that positively impacts the company’s branding strategy.
Give Freedom to Employees
Employees can choose their reward from any brand and store with gift cards, especially open-looped cards. This makes them content and enhances the staff’s loyalty to the organization. Gift cards also symbolize pride and success in employees’ professional growth, motivating them and others to perform better.
Create a Memorable Experience
Cash rewards are mostly regarded as compensation rather than appreciation. They just add to the take-home amount for the employee but do not etch any memory. Moreover, the employee can hesitate to share his happiness with his peers to refrain from bragging about cash. On the contrary, gift cards are trophies that develop a lasting memory in the achiever’s mind that they can easily share with friends, family, and colleagues.
Wrapping It Up
Gift cards represent the professionalism of the corporate world and offer the employees a sense of honor, freedom, and achievement. They also develop a lasting memory for the recipient and promote employee loyalty. Customize some great gift cards for your employees today.