To win in the marketplace you must first win in the workplace – Doug Conant, CEO, Campbell’s Soup
More than the brand or the product, it is the employee that defines an organisation. As organisations are increasingly realising the fact that a happier workforce is a key distinguishing factor between long-term success and failure, they are striving more to create a workplace that will attract and retain talent. The extent of commitment of an organisation to its workforce, the importance of employee welfare and the role of employee engagement in the organisation’s policies hence become paramount.
While there are multiple factors involved in keeping your team happy and motivated, recognition of efforts and rewards for the same have been, and remain one of the greatest motivators. Research has proven that incentives and rewards offered for commitment towards a company goal improved the performance of employees by an average of 27%. And when it comes to rewards and recognitions, it can often be an administrative nightmare to select appropriate incentives, as all CHROs know. No more watches, gold coins or company memorabilia; they are passé. Instead, a near ideal option, which merges flexibility, freedom of choice, universal acceptance and ease of administration are the gift cards. A unique and customised way in which the employer/organization can reward its employees for their performance, motivate them towards their goals, increase loyalty or even recognize their contribution towards a business vision!
Advantages of Electronic Gift Cards as the perfect solution to reward employees:
# Digital cards can be branded and personalized, for a more exclusive and memorable experience
# They can be used across channels for merchandise, travel, hotel bookings etc.
# They can be customized – right from the name of the company, the name of the employee, the logo of the company; anything can be added or modified on the card
# The Cards usually offer the employee value deals and discounts that increase the purchasing power much beyond the actual value given by the employer
# These cards can incorporate special employee privilege prices that are guaranteed to be even lower than leading e-com websites. They can be accompanied by coupon codes for even more extra saving. This exclusivity of deals is an added plus available only to the Gift Card holder
# In India, they also save taxes on INR 5000 per year
# The hassle-free process of procuring Cards for the employees, activating them or renewing them makes it much more convenient
As the leaders in employee benefit solutions, Sodexo understands the demands on an organisation for employee engagement. Be it an one-time celebratory occasion like anniversary, birthday, or a personal milestone in the employee’s life, or as a part of the on-going recognition and incentive program, Sodexo cards can be tailored and personalized to suit the occasion. Not just employees, these cards can also serve as tokens of appreciation to dealers, agents and even customers for their loyalty.
Ongoing Rewards Systems can be made even more effective by following certain steps
# Gift the deserving employee in person or in front of a group of employees. This works in two ways – boosting the morale of the winner and motivating the onlookers to perform better
# Attach the Rewards Card with a hand-written note of appreciation by the CXO to give it additional credibility and value
# Share the news on the Company newsletter or magazine or any such public platform
Rewards Cards are considered a better reminder of the achievements, a more memorable, and much classier effort by the management than a cash reward. Moreover, Cards offer a psychological guilt-free spending on the part of the employee who does not mind treating himself to a goodie bag of treats via the Rewards Card. Be it involving the whole family in the purchase decision or gifting to friends or family, Reward Cards work as a positive reinforcement, as even after a considerable amount of time people are still likely to remember what they did with the Reward Card.
As Howard Schultz, the CEO of Starbucks, has rightly pointed out, “If you are lucky enough to be someone’s employer, then you have a moral obligation to make sure people do look forward to coming to work in the morning.” And what better way than to offer the freedom of choice, the flexibility and the variety that Sodexo cards epitomise?
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