Employee incentive programs work

Employee incentives work because they’re good for employees and therefore, they’re good for employers. Since as much as 85 percent of a company’s total assets are created by its investment in human capital, it is critical to engage every employee in the long-term success of the company. It is important that the employee reward program includes tactics to retain your best employees in order to stay ahead of your competition now and in a post-recessionary economy.

In a survey by the Forum for People Performance Management and Measurement, following employee verbal recognition, the most used reward/recognition tactic to motivate employees is gift cards.  Managers prefer non-cash motivation solutions to achieve most business objectives. Non-cash programs are seen as being considerably more effective for activities designed to positively impact internal operations and those designed to improve customer relations. Non-cash programs are viewed as more effective for 9 of the 10 organizational objectives studied including:

•    Reinforcing organizational values/culture
•    Creating positive internal communications/buzz
•    Improving teamwork
•    Increasing customer satisfaction
•    Motivating specific behaviors/tasks
•    Increasing retention/loyalty
•    Improving product quality
•    Increasing profitability/ROI
•    Improving customer acquisition/referrals.

When it comes to motivating employees to increase sales, cash/variable pay works best.

A recent study showed a 15% increase in employee interest in work and motivation to complete tasks, a 27% increase in persistence towards goals and 25% increase in “thinking smarter” when incentive programs were executed.

Gift cards are easy to manage and coordinate.  Gift cards require little space for inventory, are easy to distribute and are widely appreciated for the ability to choose.  Recipients have opportunities to choose cards for practical uses such as food, gasoline and groceries; treat themselves to dinner out and pampering services, or splurge on a family vacation.

Incentive Program Design Outline:
1)    Establish Objectives
2)    Outline the Strategy
3)    Measure Performance
4)    Establish the Budget
5)    Select the Perfect Awards
6)    Administer the Program
7)    Celebrate the Program Success
8)    Analyze the Program Success

Gift Card Experts - SVM

SVM has been providing gift cards to companies of all sizes for over a decade.  You can rely on our extensive portfolio of gift cards, industry experience, quick delivery and friendly service to meet your needs. 

How many brands of gift cards does SVM offer?

SVM has over 150 of the most popular brands of gift cards -- from a cup of coffee, a tank of gasoline, big screen TVs, to luxury vacations (and everything in between). 

How quick can gift cards be delivered?

Cards can be delivered within 24 hours of receipt of confirmed payment.

Are there discounts available from SVM?

SVM is able to provide discounts for volume purchases on various brands we offer. 

Can SVM gift cards be customized with a company brand or logo?

SVM is able to offer customization on a variety of gift cards as approved by the brand.  A branded card with your company logo leaves a lasting impression.

Please visit SVM online at www.svmcards.com or call us today at 1-800-972-7481 to place your gift card order.

Forum for People Performance Management and Measurement Survey, November 2009
Recognition Council, strategic industry group within Incentive Marketing Association, 2010
Premium Incentive Products, January/February 2010