Rewarding employees is a great way for a company to show they notice and appreciate contributions and efforts of their people.
A reward option that many companies are turning to at the moment is Visa gift cards for employees. Gift cards are the perfect way to show gratitude as it gives the team the freedom to buy what they want. Unlike other gifts, the visa gift card does not sit somewhere unused.
There are various reasons why employees prefer this reward over other types of incentives. Here, we’ll touch on why this is the case.
A Visa gift card works just like cash once it is activated. It is a non-reloadable, prepaid debit card that an employee can use to shop at stores that accept Visa.
Visa gift cards for employees are best issued by a leading rewards app like PerkUp. Through the platform, you can access a dashboard, track spending, and load up perks to maximize your budget.
Gift cards and prepaid cards are pieces of plastic that employees can use to make purchases.
The main difference between these two is their permanence.
Gift cards can only be used until the amount on the card is used up.
On the other hand, prepaid cards can be used for an unspecified time and be reloaded. That is to say; prepaid gift cards can be used indefinitely, as long as dollars or perks are regularly being added to the card.
Prepaid cards can be used to pay for bills, get cash from ATMs, and make purchases.
In contrast, gift cards are traditionally used to buy items or services.
Traditionally, gift cards were often limited to use only at particular retailers. Today, credit card companies issue them too.
Related: Alternatives to Gift Cards for Employees
There is little flexibility in giving an employee a gift card to a specific store or restaurant, for example. But, due to the versatility of the Visa gift card, it can be redeemed for any product at any retailer. In this sense, it allows you and your employee to be more flexible in your choice of vendors.
If the reward is pre-selected by the organization, the employee can end up with a reward that they either do not want or need.
With a Visa gift card, the employee can select their gift based on their personal preferences. It makes the reward more personal and ensures the money is spent.
As opposed to just putting cash in the employee’s bank account, a Visa gift card is palpable proof of the company’s recognition of its employees.
In addition, when someone buys themselves an item that they find valuable, the experience is more memorable. They will remember that they purchased it with the company’s Visa gift card that they received in recognition of their efforts.
Thanks to the flexible, personalized, and positive experience employees have with their visa card, good news will get out.
Your team members will talk highly of the competitive rewards they receive, effectively acting as brand ambassadors for your business.
Visa gift cards are also easy to implement in your incentive program. They require minimal administration, no inventory is needed, it reduces cash handling management costs, and there are no bank fees to consider.
When issued by PerkUp, you can top up incentives via your dashboard and ensure that no money lies dormant within the issued cards.
Related: How To Align Rewards With Inclusive Workplace Practices
Visa gift cards give your employees the chance to do some guilt-free spending on gifts or services of their choice. This can positively impact their work ethic, promoting loyalty within the workforce.
If you are looking at making your incentive program more effective, why not consider including employee visa gift cards?