With the holiday season only months away, it’s time to start planning employee gifts. After this past year of virtual work and social distancing, they deserve to be rewarded for their hard work. There are many ways to show your staff appreciation, but prepaid cards are by far the most convenient and flexible option that appeals to everyone, among other gift ideas.
Similar to credit cards, prepaid cards can be spent everywhere Mastercard or VISA are accepted at online and retail vendors. The cards provide a safer cardholder experience since they aren’t connected to a bank account and can be locked if lost or stolen. Plus, they act as a branding opportunity when custom-designed with your company’s brand assets. Employees can spend the funds however they choose, while employers reap the benefits of staff retention and engagement. You can use the cards for one-off or ongoing corporate gifts depending on your staff engagement goals. Either way, here are a few ways to use prepaid cards to make this the best year yet for your team.
1. Wellness Allowances
As more companies introduce hybrid work, employees expect wellness perks to succeed in this new norm. A great way to ensure your staff are cared for while working at home is by offering home office allowances or wellness benefits. With these funds, employees can partake in fitness classes, health app subscriptions, or online therapy, for example. They can also retrofit their home office to make sitting (or standing) all day more comfortable.
Prepaid cards simplify these allowances because each employee can use the card for wellness-related purchases either online or in-store. Employees also have the freedom to choose what they buy, whereas gifting specific classes or perks may not appeal to everyone. And if these wellness benefits continue after the pandemic subsides, it’s easy to reload the cards.
Modern businesses cannot treat wellness as secondary to productiveness.
2. Custom Logos & Embossing
Instead of gifting company merch this year, hand out branded prepaid cards! Each card’s design shows your company logo or brand assets, embossed with the cardholder’s name. So every time your staff make purchases, they remember your generosity. Branding the company’s holiday gift is also a great way to raise brand awareness.
3. Bonuses
A common corporate reward is end-of-year bonuses, used to recognize top performers in the organization. This financial incentive is highly motivating and typically added to payroll, but a simple way to pay smaller bonuses is through prepaid cards. Loading the funds on personalized cards shows your company goes the extra mile to reward staff and enables recipients to spend the funds right away, transfer between other prepaid cards, or send e-transfers to bank accounts.
4. Holiday Events
Add to the celebration at corporate events or holiday parties by integrating prepaid card gifts. The cards are an effective incentive for staff to attend your event, and allow you to publicly recognize employees for their hard work which creates a supportive culture. Since 63% of employees who feel recognized and appreciated at their job are highly unlikely to seek new employment, providing rewards and recognition shouldn’t be overlooked.
Virtual or in-person, people like to receive loaded prepaid cards. Source: Getty Images
5. Reach Your Virtual Teams
Since most workplaces are operating remotely and will continue doing so, virtual teams are bigger than ever. That’s where virtual prepaid cards come in handy—you can send them to remote workers around the world via email! Although these cards only work for online purchases, they still provide the same freedom to spend at millions of e-commerce vendors. Virtual cards also keep your employees safe by encouraging online shopping instead of in-store visits.
Overall, physical and virtual prepaid cards are great employee gift ideas that go beyond the benefits of gift cards. Prepaid cards provide employees with unlimited choice, allowing you to create an ongoing rewards program. If you’re interested in ordering prepaid cards for your staff this year, click here to get started.