GiftCard Partners Blog

A research group at University of Pennsylvania's Center for Health Incentives and Behavioral Economics and the Penn Medicine Center for Health Care Innovation is testing an interesting theory that uses the model of a basic employee rewards program. Since many patients stop taking their medication regularly within a year of having a heart attack, so the research group is experimenting with giving patients a small prize for taking their meds on time (complete with transmitter outfitted pill bottles to prevent dishonesty).
The theory behind the doctors' research is exactly the same concept used by employers to incentivize employees towards a desired behavior in the workplace. The rewards are not large, and are modeled around a lottery system. Each day you take your medication on time you earn the CHANCE to  win a small monetary prize, and if you don't open your medication for 2-4 days the researchers are notified via the transmitters on the bottle and have a social worker contact the participant. This translates directly to the workplace. For a job well done, a small reward is given to motivate repeat behavior, however if an employees is slacking or not delivering the quality or production the organization requires, it triggers a feedback point from the manager to get the employee back on track. Using rewards in these types of instances, whether with patients or employees, that have trophy value like gift cards or time off can have a longer lasting impact than cash. Cash can be used for practical applications like bills, rather than allowing employees to build a lasting memory of treating themselves to a meal at
The Cheesecake Factory, or a new outfit from
The Limited. Building these types of experiences will solicit a stronger desire to repeat the behavior.
For more information on the University of Pennsylvania study or the reward system in the study check out this article from the Wall Street Journal.

Regular medical checkups and tests can help spot issues before they become expensive to treat complications. One Florida school district has launched a wellness rewards points program that has been showing phenomenal results. To obtain a $50 reduction in premium, employees just have to earn 300 points a year, and points are quite easy to obtain. Points are earned through a variety of health related activities like,

Employee rewards should be as memorable as the effort that employees put in to earn the reward. Building up trophy value will making lasting memories of employee recognition and employer appreciation that will maintain lasting employee morale.
Trophy Value Make employee recognition memorable for employees. Bonuses are nice but a short trip or a personal gift are memorable. A trip or gift don't end up paying the bills or put away in the savings account. These employee rewards allow employees to relax and treat themselves, without thinking they should be using the value for a practical purpose.
Choosing the Right Employee Reward Employee rewards are something employees work hard for and put in extra effort to achieve. The reward should fit the effort an employee exerts to achieve it. Don't forget the extra effort employees exert to earn rewards. The same way a punishment should fit a crime, an employee reward should fit the good behavior.
Cash Isn't Always King Cash bonuses are great in certain situations. We aren't telling you to get rid of the Christmas bonuses, but smaller spot rewards don't need to be all cash. Small denomination gift cards allow employees the trophy value of treating themselves to dinner at The Cheesecake Factory, a new T.V. from Crutchfield, or a new outfit from The Limited. Gift cards allow employees to treat themselves without feeling guilty.
For more information on creating trophy value with your employee rewards check out this article from Incentive Magazine.  

No matter if you're in the mailroom or the corner office employee recognition has remained a constant in employee motivation. Regardless of the economy, or stage of career all employees want to be recognized and it inevitably leads to motivation and increased productivity. A lot has changed since the 90's, but back then high wages was an employees number one motivator. When employees were asked what motivates them the most more recently, full organizational appreciation of work done ranked number one. When asked for one thing that would motivate them more at work, 31% of employees mentioned better treatment including more praise and a sense of being valued within the organization. Employee recognition is a valuable tool. You can make grand gestures like a company retreat, or a paid vacation for top performers, or smaller expression of employee recognition that can be just as effective. A small denomination gift card to a popular retailer like
Crutchfield,
Boston Market or
Burlington Coat Factory, paired with a public call-out at a staff meeting can be a great way to give employees the satisfaction and sense of value that will motivate them and maintain a high level of productivity.
HR.BLR provides a great breakdown on what you can do to motivate your employees through employee recognition. When done the right way, employee recognition can motivate your whole organization and promote a culture of productivity and teamwork.

New research suggests that the best companies (top 20%) are a third more likely to use non-cash incentives, such as travel, merchandise, and gift card awards, in their sales incentive programs.  The study, which was unveiled last week, indicates that these awards are critical in getting the best performance out of sales teams. The respondents surveyed were asked to identify their top three choices that are most effective at yielding the strongest sales performance.  While financial compensation is still tops, the trend has really changed over the last year.  Back in 2012 98% of respondents preferred financial compensation, compared to just 76% this year.  The impact of financial compensation is being considered less of a dominant “no-brainer” in sales.  The runners up include the non-cash incentive programs, gift cards, travel, merchandise, etc, designed to augment the financial leverage that employers have over their front-line sellers. The highly successful organizations recognize that today’s sales personnel and account managers require a far more complex managerial landscape than their predecessors.  They are aware that there is a need to manage on a more holistic level and not just consider meeting quota expectations.  
To Review the complete study along with recommendations for your company, visit the IRF here!