Your employees work hard for you, and let's face it; without them your business couldn't be the success that it is.
You want to recognize them for their accomplishments, hard work and dedication, and you want to do it in such a way that they will appreciate. While some companies choose to use gift cards as a means of employee recognition, prepaid credit cards are a much better option and a top choice amongst employees.
Benefits of Using Prepaid Credit Cards for Employee Recognition
The 2014 Canadian Trend Survey shows that employees prefer prepaid credit cards over any other type of reward, and for good reason. Prepaid credit cards offer an abundance of options that retail gift cards, merchandise and cash gifts simply cannot compete with.
- When employees receive a retail gift card, for instance, their shopping experience is extremely limited. A prepaid credit card offers your employees the flexibility and convenience to shop both in person and online with merchants all over the world, and can be used anywhere Visa or MasterCard is accepted.
- Prepaid credit cards can be loaded or reloaded with any amount the employer chooses, while retail gift cards are most often loaded with preset amounts and usually cannot be reloaded. Additionally, when prepaid credit cards are loaded, the employee receives the funds within minutes of the transaction.
- Custom prepaid credit cards are an excellent way to promote your company's brand without the inconvenience and expense of corporate branded merchandise.
- Prepaid credit cards offer employees a much more secure way to pay for the things they want than cash or gift cards. Since they are designed to function on global payment networks, they offer protection from becoming lost or stolen as well as protecting your employees from becoming victim to fraudulent activities.
- When businesses offer employees prepaid credit cards that are customized with their specific brand or logo as a means of employee recognition, it adds that personal touch that reminds them of their achievements and where the incentive came from.
- The convenience of prepaid credit cards is one of the most important reasons employees value them over other methods of monetary recognition. They do not require that the recipient hold a standard bank account, there are no cheques that need cashed, bank fees are reduced and employees can even withdraw cash directly from an ATM.
Prepaid credit cards are a fast, flexible and inexpensive way for employers to recognize their employees for achievements and milestones and to help motivate future accomplishments.