GiftCard Partners Blog

We write a lot about utilizing gift cards for employee recognition in this space because frankly they're a great way to recognize your employees for great work on a limited budget. But all of our effort to convince you is for naught if employee recognition programs are not implemented correctly within your organization.
Here's the concern,

If you knew 50% of your employees didn't feel like they were being paid fairly, would you make the necessary adjustments to ensure your employees felt fairly compensated? Would you want to ensure your employees felt like if they were doing a good job, they were getting paid for it? Seems fairly obvious that you would but, according to the 2014 Towers Watson Global Workforce study, only 40% of employees think their employer links performance and pay scale. These numbers are pretty staggering. It's time employers listen to employees regarding employee compensation before there is irreparable harm done to the employee employer relationship and retention rates decline. Employers, on the other hand, know that they are only doing a mediocre job communicating pay scale. Only 35% of employers think their employees understand how base pay is communicated. So, employers have a few options at their disposal to improve employee compensation issues:

Casual Fridays are nice, free snacks are great, beer cards on Fridays, awesome. However, giving employees work perks that save them money and time aren't always good enough when the goal is raising employee loyalty. Here are a few unique work perks that are a great was to push your loyalty program over the top and keep your employees sticking around for the long-term.

Employees are expecting more and more from their jobs, while at the same time employers are trying to retain employees as the notion of the "company man or woman" becomes a thing of the past. Higher salaries, free snacks, and flexible hours are great, but giving employees an opportunity to really grow and learn at work is the most compelling case for employee loyalty. Employees can leave when their positions start to feel stagnate. They get bored, they check out, and then they start to look for other opportunities to grow. A recent Canadian study reveals that 65% of Canadian employees would leave their "perfect job" for more money, to improve their career opportunities, or for a job that is a better fit for their background. This is compelling and consistent with the employee climate in the U.S. as well. Employees are looking to build their profiles, and if they find an employer who is willing to help them build that while working and contributing to the organization, their loyalty will endure. Employees won't have an opportunity to stagnate and will build themselves opportunities for advancement, while advancing the goals of their organization. For more information on how to build employee loyalty through employee growth check out this
article from the Financial Post.

Employee turnover is constantly on the mind of human resources professionals in all types of organizations. However, once you see the infographic from TribeHR below you might put some urgency behind an employee retention initiative. On average, a new employee costs over $57,000 in lost productivity, on-boarding costs, benefits application, and that figure does not even include the cost of training. For the cost of $57,000 could pay a junior level employee for an entire year, which has much greater potential to have a lasting impact on your business than simply bringing on a new employee. Want to lower the cost of employee turnover? Keep your current employees on board! Make sure employees feel appreciated through recognition of exceptional actions. Provide opportunity for learning and growth through professional development. When employees feel appreciated and feel like their employers are investing in them, employee turnover will decrease and retention rates will rise.