GiftCard Partners Blog

Open and honest communication in the workplace is essential for building trust, increasing productivity, and improving employee morale. When employees feel comfortable sharing their thoughts and concerns, companies can address issues proactively and foster a culture of transparency. According to a 2023 study by McKinsey, companies with strong communication strategies are 3.5 times more likely to outperform their competitors.

In today's competitive business landscape, employee recognition and rewards programs play a pivotal role in fostering a positive work environment and driving employee engagement. However, despite the prevalence of these programs, many employees remain unaware of their existence, leading to a significant gap between perception and execution.

As smartphones become more prevalent in the daily lives of consumers, retailers are constantly coming up with ways to reach these consumers in the space where they are spending an increasing amount of time……….on their mobile devices. While systems like Square and PayPal previously targeted small to medium sized businesses, they have moved into the top tier retail space. This will allow consumers to make payments using their mobile device, instead of having to carry around a wallet full of plastic. Due to the increased importance and usage of smartphones, retailers are also making gift cards available through a mobile device more and more frequently. Not only is it easier for the person recieving the gift card to redeem their gift, but it also revolutionizes the way a friend, or employer delivers the gift. There is added convenience on both sides of the gift card. Imagine giving rewards to employees on a rolling basis through a spot rewards program. The employer can deliver rewards witha click of a button to any number of employees in any number of locations. Mobile gift cards are also revolutionizing the mobile retail space and transforming the way people give and receive gifts.
For more information check out this article and interview with Ken Paull, Executive Vice President of ROAM Data, from PYMNTS.com.

Using carrot rewards, which reward employees for desired behavior, have been proven effective in rewarding employees in a number of ways. Carrots can be used in health and wellness programs to reward employees for reaching goals, they can be used as spot rewards, to reward employees on the spot for desired behavior, but carrots are most traditionally used as milestone rewards. Rewarding employees for long-term commitment to their organization goes a long way. Whether it is a gift card on their one year anniversary, extra vacation time after 5 years, or a watch after 10 years, recognizing employees efforts, commitment and sacrifice over time is crucial. It both recognizes the employee's contribution, and shows the employee that their organization will continue to support and recognize them. When employees feel noticed and supported their productivity goes up, their commitment extends, and they become more content in their jobs and their workplace. Dangling carrots may help boost retention rates and keep employees content for longer.
For more information on using carrot rewards to improve employee retention check out this article from Daily News and Analysis.