Since the beginning of the pandemic, businesses have been struggling to keep employees motivated while working at home. Even with an increase in vaccinations worldwide, most workplaces have maintained the option for employees to continue working full time from home.
With numerous COVID-19 measures put in place, finding enticing and desirable rewards for employee performance can be challenging. In-person activities are still not possible, as they pose health risks which limits businesses to only a handful of ineffective incentive options.
Virtual prepaid cards have gained popularity as the ideal method of employee incentive, due to their digital and widely available nature. Additionally, the possibilities for employee reward campaigns using prepaid cards are endless - keeping things interesting for all hard-working employees.
Why Prepaid Cards Make Great Incentives
- Prepaid cards allow for greater flexibility over employee purchase decisions. This way, employees can do anything with their money, from shopping online from the comfort of their own home, to treating themselves to a special meal.
- Since prepaid cards function through the Visa or Mastercard network, cards can be used quite similarly to a credit or debit card, without any bank or card ownership fees.
- Prepaid cards can be fully branded with any company colour scheme, messaging, and logos. Branded cards serve as a powerful promotional tool that allows your business to be top-of-mind while employees are using their rewards. This escalates the feeling of appreciation employees feel towards your business when being rewarded for their hard efforts during this particularly difficult time.
- Ordering and issuing the cards can be incredibly fast, allowing businesses to deliver incentives to as many employees as desired, as soon as possible.
- Prepaid cards have the ability to be reloaded, which make them great tools for creating ongoing rewards programs that identify frequently exceptional employees. Businesses may also choose to create special one time rewards, to make employees feel appreciated for certain occasions.
- Standard vouchers or gift cards limit an employees ability to spend the card within the limited parameters of the chosen retailer.
- It is much easier to lose traditional gift cards, whereas virtual prepaid cards can be digitally tracked and used to ensure safekeeping.
"Virtual prepaid cards have risen as the ideal incentive due to their touch-free, digital and widely available nature."
How to Use Prepaid Cards to Incentivize Employees:
Some ways to use virtual prepaid cards to reward employees include but are not limited to:
Give Back Programs
Prepaid cards are an extremely popular base for any incentive program as they are both cost effective for companies, while being incredibly convenient for employees to use.
Branded Gift Cards
With branded gift cards, businesses can award employees for an exceptional project, deal, or simply to say thank you. There is no better feeling for an employee than being told they are doing a good job. Branded gift cards are the perfect way to pat employees on the back, and let them know they are valued.
Traditionally, when employees receive bonuses, it gets absorbed into their accounts and is spent on mundane necessities, so it never really feels like a treat or reward like it is meant to. By providing employees with a special branded prepaid card, they will feel more inclined to use the bonus to buy themselves a reward that they both want and appreciate.
Contests are a really fun way to engage employees during an online environment, to ensure that in addition to being productive, employees are engaged and excited to come to work.
According to the nature of your business, you could have employees of different teams, set specific goals for themselves. For example, a sales employee may set a realistic number of monthly sales to meet. Alternatively, your business can set an overall goal for everyone to work towards and reap the benefits from. As a reward, once a goal is met, employees will receive a special prepaid card.
No organization is without flaw. A great way to encourage employees to step forward and take initiative to make real change is to create an open platform. Challenge your employees to brainstorm and pitch solutions for improvement. This will make employees feel as though their insight is valued and desired. The best ideas can be implemented and their visionaries rewarded with a prepaid card.
"By providing employees with a special branded prepaid card, they will feel more inclined to use the bonus to buy themselves a reward that they both want and appreciate."
Interested in Setting up a Prepaid Incentive Program for Your Employees?
Using Berkeley Payment's rewards and incentives platform, your business can create your own branded prepaid cards, to motivate and engage your employees while they are at home or at the office.