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12 Trends in Rewards & Recognition

I had the pleasure of attending the Incentive Research Foundation (IRF) 12 Trends in Rewards & Recognition webinar last week. It was a truly well put together and extremely professional event; I don’t tend to take these attributes for granted these days. And the
post webinar white paper download is filled with survey results, studies, insights, economic climate conditions, mobile technology implications in the workplace, the latest engagement techniques, and so much more. During the webinar, they noted that they’d release 2 new studies about the use of prepaid cards as incentives and rewards and
11 new studies and white papers on the use of rewards, recognition, and motivational meetings in the workplace. Here are IRF’s top 12 Trends, do take the time to download the white paper; it’s a must read for employers involved with engagement, motivation, recognition, and rewards…the things that keep your business ticking!

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Health and Wellness Programs: Not Just for Large Corporations Anymore

Small businesses are increasing implementation of health and wellness programs to lower the ever rising cost of health care coverage. With insurance premiums rising as much as 30% annually, it is becoming essential for small businesses to keep their health care costs low, and keep their employees as healthy as possible. Small businesses tend to use a carrot approach, incenting employees who engage in health and wellness programs, as opposed to a stick approach, which would penalize employees who engage in unhealthy lifestyles. Incentives offered can include monetary bonuses, gift cards to retailers that assist employees in maintaining a healthy lifestyle, as well as other vehicles to support employees' healthy lifestyles. Health and wellness programs have proven that they pay for themselves, with research from Partnerships for Prevention showing that for every $1 a company pays for health and wellness program execution $3.50 is saved in health care coverage costs. This figure is staggering, especially for small businesses who need to manage budgets and expenditures very closely. Additionally, an Israeli study showed that employees who engaged in some form of exercise had lower rates of depression and job burnout, which proves that the benefits of health and wellness programs do not just serve employers but also employees and their interests. Health and wellness programs are growing more and more popular, especially among small businesses. What are you doing to keep your employees healthy?  
To learn more about small business health and wellness check out this article from msnbc.com.

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Recruiting and the Lure of Health and Wellness Programs

We’ve done much writing on the popularity of incentives and utilizing “healthy gift cards” within workplace health and wellness programs, but one of the benefits of doing so is often overlooked by hiring managers: Recruiting and how attractive these programs are when interviewing. Healthcare costs are a top concern for all American workers. A recent Towers Watson study found that 73% of employees are concerned about paying more for out-of-pocket health costs and co-pays and 53% of survey participants said they “would be willing to trade a portion of their pay in return for more generous benefits.” This certainly highlights the importance of healthcare initiatives to the potential employee. Being able to communicate that you seriously heed these concerns, and are addressing them by adding and expanding employee programs and incentives to offset costs, gives you a competitive advantage when recruiting and hiring. Health and wellness programs aren’t just a feather in your benefits cap, or a way to decrease healthcare premiums over time, but; they are also an increasingly important component to then competitiveness of your benefits package as a whole. For more of our blogs about corporate health and wellness and gift card incentives,
check out our health and wellness blogs. To learn how CVS/pharmacy gift cards are utilized in corporate programs,
check out our CVS Bulk Gift Card site. Source: Employee Benefits News:
Workers willing to trade pay for benefits

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Card Compliant’s FinCEN’s Prepaid Access Rule Webinar

Are you a retailer or merchant looking for the latest information on FinCEN’s final rule? Wayne Chatham, CEO of Card Compliant will be educating retailers, restaurants, merchants, and other card issuers on potential compliance solutions and exemptions to FinCEN’s requirements via a 1 hour webinar on February 29, 2012 at 1pm CT. “We are especially interested in having retailers and restaurants participate in the webinar as this may be the first time many have faced compliance issues generated by FinCEN,” states Chuck Rouse, Card Compliant’s Chairman.  “Among other topics, we will address FinCEN, the FinCEN rule on prepaid access, the closed-loop exemption to the rule, the $2,000 closed-loop value requirement, and the $10,000 seller requirement.” Join in on this learning and sharing session and register for the webinar at no cost: 
Are Your Pre-paid, Closed Loop Gift Cards FinCEN Compliant?  http://www.cardcompliant.com/FinCENwebinar.aspx
Source:
gnom.es national newswire

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How Will You Achieve Your Next Generation Loyalty Program?

Many retailers and merchants decide to go it alone when it comes to creating or updating their customer loyalty program. But those who have an existing loyalty program still need to ensure it remains fresh and offers the best of what customers are expecting. Truly, you should be thinking about going beyond basic loyalty, to gain loyal customer and brand advocates. Here are some simple steps to take to update your program…and keep those customers coming back.

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