In some ways, a company is an impersonal entity. But more than that, it is a group of individuals, each with their own needs, wants, and motivations.
How can you ever hope to set up an employee rewards program that speaks to each employee individually?
David Jones, CEO of Card Lab Inc. (www.cardlabcorp.com), says large companies realized a long time ago the value of an individualized approach to rewards. Their employees may be able to choose from among many different options for a customized “pat on the back.”
Pick up the logoed coffee mug you gave out at last year’s recognition party. Do you think the employees receiving it feel all warm and fuzzy each time they take a drink of the break room coffee?
Jones recommends that you start thinking like the big dogs in your industry, because in fact, you are competing with them for employees.
Did the recession require you to downsize? Then your remaining employees have lived through a lot of stress and likely have taken on additional work in order to pick up the slack.
Add to that the fact that with a growing economy comes more opportunity for employees to lift their heads and look around at other opportunities.
You’ve cut their pay and increased their workload; what can you do for them now that will be meaningful and remind them of their value to the company?
Tips for Choosing The Right Card
A quick, easy way to provide individualized rewards is by using customized gift cards, Jones says. You can maximize the value they provide by remembering these hints:
First of all, use a Visa-branded card rather than cards issued by individual stores. Not only is issuing the same card to everyone boring, it can also run the risk of losing value.
“Visa-branded cards can be used anywhere Visa is accepted,” Jones says. “They’re also FDIC-insured, so you don’t have the risk of a store or a restaurant going out of business and losing the card’s value.
“That was a big issue a couple of years ago, when Circuit City and Sharper Image went bankrupt. They had an awful lot of gift cards out in the public, and they lost value. I’m sure that was a black eye for any employers who gave them out as rewards, and it obviously wasn’t good for the employees.”
Second, customize the card. Jones says a corporate logo is great, but you don’t have to stop there.
“For example, you can use a picture of the business’s building, or a picture of the team that is being rewarded,” says Jones.
“We see that a lot. Say you have a software team that just put out a new software package. The company will take a picture of the team and that’s the image they’ll use on the card.”
Not only will the individuals show the card off to their family and friends, they’ll be reminded of their accomplishment—and their employer—every time they use it.
“Large companies have been doing this for quite some time,” says Jones about branded gift cards. “We have the ability to produce them for small companies, too. You can order one card or a million cards. There is no minimum order, so it’s a very simple thing to try.”
Motivating employees is not easy, no matter the size of a company.
It would be impractical to survey each employee asking what product or service he or she would prefer in every situation. But you can make sure they truly appreciate their reward when they have the freedom to spend it where and when they want.
And, if you can keep the reason they won the card in front of them, using a photograph or other reminder on the card itself, you have a good chance of maintaining their loyalty.
“We suggest that companies pick up the phone or go online and order a few cards to try them out with their employees for a particular event,” says Jones.
“Compare the reaction to what you’ve done in the past. I think you’ll find pretty quickly that employees prefer something like this over a logoed paperweight.”