Gift Cards Are The Most Popular Reward For Employee Incentive Programs

Gift Cards Are The Most Popular Reward For Employee Incentive Programs

October 17, 2019         Written By Bill Hardekopf

Companies are continually looking for new ways to show employee appreciation. Free lunches and published recognition go a long way, but research shows there is a new favorite among employee rewards programs. Blackhawk Research found that gift cards are a top choice for employees, and 69% of workers feel valued after receiving a gift card from an employer.

What makes gift cards so desirable? Nearly 70% of respondents said that gift cards felt like financial rewards to them. Even if a gift card can only be used with one merchant, employees translate the value into cash.

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Gift cards are also desirable because they show that a company cares about its employees (66%). Employees say receiving a gift card makes them feel motivated to work harder (54%) and more likely to remain with a company (55%).

When it comes to choosing offers for employee rewards, program managers said ease of use was a top priority. That is why many businesses choose prepaid cards for their incentives. Since gift cards are compatible with most mobile wallets, employees can choose exactly how they want to use their incentives.

Digital gift cards are popular among consumers but physical gift cards are in greater demand among employers because of their convenience. Roughly one quarter of employee program managers put the company name on physical cards as an added touch for brand interaction.

The information contained within this article was accurate as of October 17, 2019. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.