Gift Cards That Can Be Used
Across National and Currency Borders
It has long been held that the higher the pay, the more satisfied employees tend to be. However, this is far from the truth. Research today shows that employees are more motivated by non-cash incentives than cash, and organizations are increasingly respond to this new phenomenon by incorporating the use of new methods as part of their employee incentive programs.
One incentive in particular is the use of gift cards. These are distributed to employee on account of their performance and translate into significant discount percentages when bought from specific stores and outlets. In fact, these are so popular that a study found that 80 percent of employees favor gift cards over other incentives.
However, a key challenge worth addressing is ensuring that gift cards extend beyond borders so that employees are able to utilize it in several counties. Due to the highly globalized and multicultural nature of companies, in addition to the prospect of freelancers working for companies from distant countries, companies need to make sure the validity of gift cards is without borders and currencies.
Benefits of Using Gift Cards as Employee Incentives
Gift cards are used in a number of contexts whether it is in the form of wellness programs, performance recognition, sales incentives, consumer promotions, and so on. However, all serve the purpose of increasing employee engagement and fulfilling feelings of appreciation and gratitude for their services.
There are several advantages of using gift cards. Firstly, they combine the benefits of both cash and non-cash incentives, giving enough flexibility to meet both emotional and financial needs. This is because gift cards give employees greater choice in choosing items that they feel are entitled to for their hard work and commitment to work.
Secondly, they are long-lasting in that they are etched into the memory for a lot longer, resulting in unforgotten positive experiences. This helps create a long-serving positive attitude or opinion about the company, which can help drive greater productivity and motivation to climb the career ladder.
Thirdly, gift cards can be useful for spending rewards with other people, such as their spouse and other members of the family. For instance, a gift card in the form of a 2-person ticket to Hawaii can be great means of spending quality time with the spouse. Any type of gift card can be argued to be more impactful on performance and productivity, owing to its long-term memory effects. This can be
How to Use Gift Cards across National And Currency Borders
A challenge that companies face is making sure gift cards can be accessed across national and currency borders. This is especially an issue if the company issues a gift card to freelance employees who cannot use it in their own country. The way to counter this problem is to create global gift cards using cloud based employee management solutions. It ensures local and global relevance by providing an ‘in country’ feature. This makes sure that employees can make use of gift cards in any country.
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