12:00 AM, 05 14, 2015
10 Reasons to Give a Gift Card over Cash
Over the years companies have always turned to cash when it comes to giving employees their annual or quarterly bonuses, however many companies are turning to the gift card industry when it comes to rewarding employees and customers/clients.
Here are 10 reasons as to why giving a gift card is more compelling than cash as stated by the Incentive Gift Card Council (IGCC)
- Trophy Value: Gift cards are seen as being more memorable in creating a lasting reminder of an achievement.
- Word of mouth: Employees are more likely to share this achievement with others and discuss what they will be redeeming the gift cards on.
- More Discrete: Society often finds it impolite to discuss cash awards however; conferring gift cards is seen to be more socially acceptable.
- rue Gift Perception: Gift cards are not viewed as part of compensation which is usually perceived by cash rewards.
- Universal Benefits: Gift cards combine the benefits of merchandise with the benefits of cash
- Guilt-free spending: Recipients don’t feel guilty treating themselves.
- More likely to improve work performance: Studies show that cash doesn’t improve work performance – gift cards do.
- Family Support: Because the participant’s family is involved in selecting awards – they’re more likely to support the participant’s goals.
- Pleasing loved ones: There is a strong motivation to earn an award for one’s significant other or children.
- Long-term positive feelings towards organisation: Gift cards reinforce positive associations with sponsoring organisations.
Gift cards allow your employees the power of choice but with that added trophy value that cash awards don’t give. Companies can also benefit from using gift cards as part of their incentives/rewards and benefits package due to the flexibility, ease of use, and low administrative costs.
If you would like to know more on how you can incorporate gift cards and digital e-codes into your company you can contact our sales team on 01709 303 102 or email us at firstname.lastname@example.org
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