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Incentives Industry Breakdown 2016

The incentives industry is thriving with 84% of U.S. businesses now using non-cash rewards to recognize and motivate their key audiences. Non-cash rewards come in many forms: from award points, gift cards, incentive travel, to merchandise, and more. In 2015, businesses spent $90 billion for these rewards and sales and employees are the largest audiences targeted when it comes to these non-cash rewards.

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Deep Dive into Gamification for Employee Motivation and Rewards

If you are immersed in the world of employee motivation, recognition and rewards; you’ve been hearing a lot about gamification: a business tool to integrate key techniques and mechanics into the workplace via “games”. Simply put, integrating interactive games as a tool within training or incentive programs improves employee engagement, motivation and productivity. GCP’s gift cards are well engrained in such programs as game points can be accumulated to select a really useful “prize”, like lunches at
SUBWAY, Health and Beauty items at
CVS/pharmacy, high quality, trend forward, and professional fashions from
The Limited…GCP’s gift cards are carefully selected for B2B programs like employee rewards. GCP’s recent blogs lead to gobs of the evidence that gamification should be looked at seriously within incentive programs,
Incentive Experts Point to Gamification as Top Incentive Trend,
Snowfly’s 16 Key Findings for Success white paper,
IRF’s 12 Trends in Rewards and Recognition for 2012,
Gamification Keeps Employees Engaged and Brand Image Strong…but this blog offers you a deep dive into the mechanics of gamification, data on participation levels, performance and reward successes, and what you can expect long term. Take a deep dive into gamification with “
Snowfly’s Gamification in the Workplace: 15 Key Discoveries”, by Dr. Brooks Mitchell. His work has been published and referred to in hundreds of publications, including Forbes, Wall Street Journal, Fortune, and the New York Times.

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Recognize, Incent, Reward…and Inspire Your Employees

At GCP, we typically blog about how gift cards are being used to incent and motivate employees, customers, or partners, as well as trends around incentives. However, this article by Roy Saunderson of the
Recognition Management Institute  has motivated me to highlight the importance of not just recognizing and rewarding your employees, but… inspiring them. “How do we get them to commit their hearts and spirits to the mission of the company?” Roy asks…we love his answers and we hope they inspire you to truly influence the workplace in a meaningful way all year long. Click here to read:
Incentive Magazine’s, 10 Ways to Inspire Employees at Year End

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Incentive’s Latest Gift Card IQ Survey Results Published

What’s the high level? The
2011 Gift Card IQ Survey reveals good news for retailers when it comes to “bigger” incentive gift card budgets. The five largest budget categories (all above $75,000) all increased. For example: -    Budgets “more than $100,000 nearly doubled to 15 percent this year, compared with 7.8 percent in 2010.”

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Study Highlights New Trends in Employee Awards – Gift Cards Favored!

Incentive Research Foundation (IRF) and the
Incentive Federation recently published a study that highlights gift cards as an employee reward preference over cash rewards. The study about incentive awards recognizes non-cash incentives as a way to control spending, while motivating employees and channel partners. The preliminary results of the study point out that employee cash incentive awards are averaging $732.00, which is triple the cost of non-cash awards. “The study validates our experience and belief that the average cost of a cash award is roughly triple that of either merchandise ($206) or gift cards ($240),” according to Incentive Federation Chairman Stephen Slagle.  “The total cost of incentives is especially important in our post-recession economy, so the data points stimulated extensive discussion around the benefits of each award type,” he explained. To read more about this study, visit
IMA’s Return On Performance. Check back with us regularly; we’ll publish a link to the full study results once they are available.

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