The Best Employee Rewards for Your Best Employees
Recognizing and rewarding the positive contributions of employees at any company is critical to driving employee engagement, culture, morale and most importantly, retention. In fact, there are companies that help other companies drive employee recognition. And we’ve been partnering with one of the fastest growing ones for the past 6 years to help them innovate, differentiate and stay ahead of their own competition.
TARGET: HR departments looking in mid- to large-companies for easy and immediate ways to demonstrate employee appreciation
While the employees at any given company are the ultimate audience to connect with, a platform focused on employee incentives, rewards and recognition needs to appeal to HR decision makers first and foremost. But in their mind, of course, it’s their employees who are their top priority.
PROBLEM: Limited choice limits enthusiasm
Every company is different, and so are their employees. HR departments are looking for tools to help them recognize their star performers with tangible, flexible, relatable rewards without the expense and hassle of maintaining an inventory of merchandise. Not to mention that one more company-logoed item just might not be all that motivating to top employees.
SOLUTION: Bulk gift cards offer choice, personalization and immediacy
What motivates one employee may mean nothing to another. We created a pool of rewards, accessible through an intuitive gift card API. The pool featured over 250 brands in multiple categories including shopping, restaurants and entertainment. We then integrated the options into the company’s social and peer-to-peer recognition programs. Once an employee chose the reward they wanted, it was digitally delivered directly and immediately to them through the gift card API. Of course, they could also pick that sweatshirt or water bottle.
REWARDS PARTNER: Amazon, Walmart and Virtual Visa
Rewards are more impactful when employees have a lot of options to choose from so they can select something they actually want. By offering employees their choice of both everyday retailers like Amazon, Home Depot, Starbucks, Target and Walmart as well as brands like Virtual Visa which can be redeemed everywhere, employees had an incredible selection of relevant, popular brands to choose from. And choose they did.
RESULT: Company and employee participation
We have helped the company with this product for over 6 years. During that time, a 12% growth year-over-year in redemption activity indicates that both employers and their employees find the program to be effective, simple and worthwhile to use. To date, our client has serviced several hundred companies with a wide-range of employees actively redeeming rewards in both the United States and Canada. Contact us if you are looking for ways to reward, recognize and motivate the star employees in your organization with our ever-expanding, unique rewards catalog, available just about anywhere in the world.
We’ll be back next week with another client/program case study, and until then, please don’t hesitate to reach out with questions!
Digitally yours,
The NeoCurrency Partner Team