GiftCard Partners Blog

The infographic below offers some pretty staggering statistics on how employee loyalty is tied to benefits, and how employees are often less loyal to their organization because they are not aware of the extent of their benefits. If benefits were better communicated and employees were aware of all that their employers were offering loyalty and retention rates would be higher. The lack of communication is apparent, since employee loyalty is at a 3 year low, even as the economy recovers and companies begin hiring again. Happy employees are productive employees, so ensuring that your employees are aware of benefits from health and wellness rewards, to spot rewards like gift cards for a job well done, will result in a measurable return on investment for your business.

One of the most important challenges that employers share is undoubtedly reducing health care costs, while maintaining the perception of high healthcare value being offered to employees. But, employer and employee perspectives can be greatly skewed.

As the economy continues to improve, I for one am thinking about how and where to vacation this summer. On a personal level, I know I will grab up deals with extra gift card dollars wherever I can find them. And with professional interest, Harris Interactive’s recent survey (on behalf of Choice Hotels) seems like really great timing for the loyalty rewards market. The survey reports that out of  the 2,100 U.S adults that were surveyed, over 87% of Americans plan to travel for leisure this summer, and they report that if they had an extra $50 to spend on their vacation, they'd be most likely to spend it on:

A recent Inc.om article calls NOW the time to reward employees, but they state, “If the economy gets better and job prospects improve, you may need to offer more incentives to keep your best employees”. It’s indisputable that as the economy revives, so will job opportunities to your employees and your competitors will be vicious when it comes to recruiting the best your company has to offer. Showing your staffers how much they matter is critical to TOP employee retention. GCP’s comments about how gift cards meet the 3 views of this article follow each Inc.

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