The employees of a company are its foundation. Happy and satisfied employees raise the atmosphere and morale of a workplace, and one way of ensuring a happy workplace is by showing appreciation. Everyone likes feeling appreciated and getting recognition for their work and contribution. It motivates them, makes them productive, and strengthens the bond between them and their employer. While there are various ways to show their token of appreciation, firms are slowly moving away from monetary gifts and shifting towards corporate gifts for employees.
Studies show that approximately 90% of employees claim corporate gifts, such as gift cards, are the best type of reward. While it is true that monetary rewards have shown to be effective, gift cards have shown an increase in workplace merriment and happy staff.
What are the Types of Corporate Gifts?
There are two types of gift cards that companies gift their employees:
- Open Gift Cards: Companies using open gift cards allocate a specific amount of money on cards like Mastercard or Visa, which employees can use for any purpose, and in any store. Open gift cards give employees the freedom and flexibility to make their purchases.
- Closed Gift Cards: Closed gift cards are brand-specific or store-specific cards wherein an employee can only swipe the card in a particular store. Unlike open gift cards, closed gift cards lack employees’ freedom and flexibility.
Why Do Organisations Prefer Gift Cards?
Giving gift cards to employees instead of monetary rewards has proven to be very effective and productive for the workplace and the workforce.
Sometimes, an issue with non-cash gifts is that you might give a gift or reward your employees either already have or do not want. In such cases, non-monetary gifts waste time and money, leaving both parties unsatisfied. On the other hand, gifting cash seems a bit impersonal. Corporate gift cards provide a single solution for both scenarios. They give employees the space and freedom to purchase a gift whenever they want it.
Increases Employee Loyalty
Gift cards are a way to make your workforce feel recognised and appreciated. It is a reminder of their hard work, efforts, and value. Cash gets exhausted quickly. However, gift cards come loaded with money employees can use whenever they feel like and on whatever they want, such as birthdays, anniversaries, or other special occasions.
The constant fear of losing cash or a cheque looms over people while travelling with them. A gift card eases those concerns, as one can store it anywhere. Instead of making purchases via cash, one can make purchases using gift cards in person and while sitting at home.
How Can Companies Make Gift Cards Effective?
Having corporate gift cards for employees is more effective than monetary rewards, but sprucing them up can make them even better.
You can personalise or customise gift cards with your employees’ details, which adds a personal touch to them. It gives them the assurance their hard work is being recognised, and their contribution to their team and the company is acknowledged and valued. Along with a customised card, companies can pair it with a personalised note thanking them for their work and time.
Open Gift Cards
Ensure the gift card is an open card gift instead of a closed one, as it allows the employees to buy something they wish to purchase.
Corporate gifts for employees are a nice gesture because they make employees feel valued and appreciated. Gift cards give them the freedom to make purchases as and when desired.