GiftCard Partners Blog

This topic is really exciting for us at GiftCard Partners. In the past we've reference the growing popularity of non-cash incentives in the marketplace, highlighting statistics from the 2013 study from
Incentive Federation Inc. and
Aspect Market Intelligence's
Incentive Market Study. The 2013 study touched on the popularity of non-cash incentives, stating that 74% of businesses use non-cash options to recognize and reward key audiences in the form of incentive travel, merchandise, or 
gift cards. Now 
new research by the
Incentive Research Foundation (IRF) and Aspect Market Intelligence, conducted for the
Incentive Gift Card Council,  is showing how non-cash incentives (specifically gift cards) are still hot, hot, hot. The study highlights the continued preference for gift cards in a variety of programs, with the largest companies using them at a rate of 56%. So what are these gift cards being used for? Of the companies using gift cards, 67% are using them for employee incentives, 38% for sales incentives, 30% for customer rewards, and 8% are allocated to channel incentives. As gift cards continue to be a staple for rewards and incentives, with goals to foster motivation or drive engagement, acquisition, retention or loyalty, it's safe to say they're here to stay. Does your company use gift cards in any of their programs? If so, we'd love to here more about how. And if you're looking to add gift cards to your programs check out our gift card brands
here.

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.

As a Massachusetts based company it has been hard to ignore the Market Basket scandal/scuffle/struggle. As the drama continues to unfold, one thing has been made clear by both Market Basket employees and customers: they are loyal. Scandal aside, organizations work very hard to try and build that kind of loyalty on either side of the cash register. Here are three ways to help build loyalty in your organization:

When a company used to create a marketing plan the process was more of an art than a science.  Information was gathered, numbers were crunched, and then essentially, one would go with their gut. Creating a marketing plan today is more of a science.  With all the data we are able to receive from point of sale, credit cards, loyalty care, and social media platforms, marketing has transformed and we are given a new look into consumer insights.