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Looking for new strategies to make a positive difference in your workplace? Prepaid rewards cards are a versatile solution. They can be used for everything from recognizing a job well done to motivating employees toward a goal. Plus, prepaid cards can typically be used for purchases anywhere specified debit card brand(s) are accepted, giving employees the freedom to choose the reward they really want.
Here are four ways your organization could benefit from a prepaid rewards card program:
- Influence employee behavior.
- Reward or incentivize performance.
- Reduce time-consuming admin tasks.
- Boost employee morale.
The prospect of a reward can be a powerful motivator. Consider offering prepaid rewards cards as an incentive to complete a specific and measurable activity, such as a health and wellness challenge or training program.
You could also use the program to reward employees for consistently following workplace safety practices or other required procedures. It’s a simple way to help reinforce positive behavior until it becomes a habit.
Prepaid rewards cards make excellent incentives for meeting sales goals and other performance benchmarks. You can also use them to thank employees for above-and-beyond effort.
Acknowledging employees helps make them feel valued and appreciated, which can contribute to higher job satisfaction. In fact, a WorkTrends™ global survey reported that 83 percent of employees who receive recognition for their performance report a positive employee experience.*
With merchandise reward programs, you may have to spend a significant amount of time managing paperwork and tracking points or redemptions. In addition, the selection may be limited, there may be added costs for fulfillment and shipping, and the items may take weeks to be delivered.
Prepaid rewards card programs using a product like the U.S. Bank Rewards Visa® Card** simplify the process with a single reward item. An online portal also makes the program easy to administer. Just order the cards you need in the amount you want (from $25 to $1,500). You can distribute them yourself or select individual fulfillment. Recipients decide when and how they want to use their card, whether they make a purchase in a store, by mail or online.
Beyond incentives, prepaid rewards cards can be used to help build your workplace culture. You could recognize employee milestones such as birthdays and employment anniversaries, or celebrate major life events like a new baby or wedding. You could even offer cards as prizes at company events.
Simple gestures like these communicate that people matter and create a sense of belonging to a team. That’s important when it comes to retaining employees and reducing turnover.
Explore your options.
If you’re considering a prepaid rewards card program and you want to find out more, please contact us at RewardsCommunication@usbank.com. We’re here to answer your questions and help you create a program that fits your workplace goals.
*Source: WorkTrends™ 2016 Global Survey for the IBM/Globoforce Employee Experience Index↩
**This Rewards Card is issued by U.S. Bank National Association pursuant to a license from Visa U.S.A. Inc. © 2019 U.S. Bank.↩