Reward Your Most Valuable Asset This Holiday Season With An Employee Incentive Card
Loyal employees are the most valuable asset a company can have. What are YOU doing to show your employees that you value and appreciate them? This holiday season, make sure you reward and recognize your most valuable asset with a holiday employee incentive program.
During the Christmas and holiday rush, it’s easy for a business to focus its attention on customers; after all, it’s customers that drive sales and profits, right? Actually, that’s only partially true: in fact, increasing employee satisfaction can go a LONG way towards improving your business!
- A 5% increase in employee retention can generate a 25 to 85% increase in profitability
- Disengaged workers cost organizations $450-550 billion or more per year
- Companies with engaged employees see a 26% greater annual increase in revenue
- 90% of business leaders believe that an employee engagement strategy could positively impact their business, yet only 25% of them actually have a strategy in place.
- Organizations with higher than average levels of employee engagement realized 27% higher profits, 50% higher sales, 50% higher customer loyalty levels, and 38% above-average productivity.
A simple yet effective holiday incentive program is exactly what your business needs to build loyalty, improve employee morale, and create a winning corporate culture during the most wonderful–and most important–time of the year for sales.
Do holiday incentives really make a difference? YES!
- 91% of employees who received a holiday gift card say they liked getting it.
- 83% of employees said they would feel more appreciated, work harder, feel motivated, and have more loyalty towards the company if they received a holiday incentive.
- Properly structured employee incentive programs can increase performance by as much as 44%
- 39% of employees feel underappreciated at work, with 77% reporting that they would work harder if they felt better recognized.
- Companies using incentive programs reported a 79% success rate in achieving their established goals when the correct reward was offered.
- Annual revenue increases are 3x higher in companies that use a tangible sales incentive over those that don’t use an additional incentive.
- 42% of employees consider rewards and recognition program opportunities when seeking employment. 73% of disengaged employees are actively looking for new job opportunities.
- 41% of customers are loyal to a brand or company because they consistently notice a positive employee attitude, while 68% of customers defect from a brand or company because of negative employee attitude. It costs 5x more to obtain a new customer than it does to retain a current customer.
Having trouble coming up with the right holiday incentive program to offer your employees? Here are a few ideas:
- Single-Use Gift Cards
- Reloadable Incentive Cards
- On-The-Spot Recognition
- Performance Programs
- Thank-You Holiday Cards
- Employee Holiday Bonus Programs
- Points-Based Loyalty and Engagement Programs
- Achievement Rewards, and More!
Open-loop employee incentive cards have emerged as the ideal reward and, according to a CPPO survey, are the most-wanted holiday gift. Nearly 80% of Canadians surveyed say they would like to receive an open-loop card as a gift, and 95% say they are satisfied with incentive cards, the highest satisfaction rate out of all payment tools. Open-loop cards are simple, secure, and can be used anywhere Visa® is accepted, including online. A reloadable card, unlike traditional gift cards, can also have additional funds loaded any time that you want to reward employees. 78% of people prefer open-loop cards versus closed-loop gift cards that can only be used at one retailer.
Payments can be sent out to thousands of cards in minutes and can be made as often as required. Your card can also be custom-branded so when an employee uses their card, they remember exactly where it came from. Regardless of which incentive you choose this holiday season, your employees are going to appreciate the gesture.
Make the right move, and implement a holiday employee incentive program now. For more great holiday ideas, check out our 2019 Holiday Incentive E-Book below to see how DCR Strategies can help you win the season with innovative incentives that make an impact:
Check out our 2019 Holiday Incentive E-Book below to see how DCR Strategies can help you win the season with innovative incentives that make an impact:
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