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Gift cards are a great way to motivate employees

The record layoffs of company employees last fall were called the Great Retirement. And it still actively influences the labor market in the United States. Therefore, entrepreneurs seek to increase the level of employee loyalty by introducing a variety of programs and incentive systems.
The Institute of Public Opinion Gallup international estimates the loss of American business from the turnover of the labor force at a trillion dollars a year. And it's not just about financial costs. The corporate spirit, the inherent nature of the work, the accumulated baggage of knowledge, and the corporate identity of many companies are lost.
That is why it is important to keep the working team, especially valuable and productive employees. One way to increase employee loyalty is to distribute various types of gift cards among them.
Why a gift card is a great motivation
Additional bonuses that employees receive at their jobs have been used for a long time. Companies practice free meals, the organization of restrooms, a system of happy hours, and much more. But it shows less and less effectiveness as a motivation.
Gift cards, on the contrary, are a great way to interest and keep the team in their places. Why are they so effective, and what is their secret? There are several reasons for this:
● The very concept of "gift card" already implies an individual and positive attitude towards the staff. Everyone loves gifts, it has been instilled in us since childhood. A gift card is almost analogous to money, but it has a much higher potential for raising morale within the team. A salary increase is not perceived as positively and individually as a gift for an employee personally.
● The use of gift cards of certain types enables its owner to receive goods and services for which he often did not dare to spend the money he earns. New emotions and impressions will cheer up your employee.
● There are universal gift cards issued by Visa or American Express. They give a wide choice for bonus recipients. But even if the card of any network remains unclaimed, it can always be exchanged for another, more necessary one.
During the global COVID-19 pandemic, health-related cards were in high demand. The medical institutions themselves also actively distributed bonuses, thanking their employees for their selfless and faithful work in difficult times. And if in the past gift cards sold well around the holidays, now they are valid all year round.
If you are serious about the personnel policy of your company and strive to keep the “golden” composition of your staff, be sure to think about giving gift cards. When purchasing bonus certificates in bulk, you can get a good discount, so the implemented loyalty program will become even more effective.