Low-dollar rewards are a driving force in keeping employees motivated and feeling both appreciated and loyal to their employers, according to a new survey by Parago, a provider of consumer and corporate incentives.
The study shows 81 percent of respondents say end-of-year rewards are a nice gesture for employees, though they should not be expected, and 84 percent of respondents say an end-of-year reward of a prepaid card valued at $100 or less would meet their expectations. Another 55 percent of respondents say only $25 or less on a prepaid card would meet their expectations.
Because of their employers' lower company profits, missed quotas, little employee appreciation and lack of gift-giving history, 69 percent of respondents says they do not anticipate their employers giving end-of-year rewards or holiday gifts in 2011. Despite this, 81 percent of respondents say a reward would make them feel more appreciated, motivated or loyal to the company, and 79 percent of respondents say receiving an end-of-year reward would be a token of their great work or an indication that they are appreciated.
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Of the types of gifts, 57 percent of respondents say they prefer Visa or MasterCard prepaid cards over gift cards, company-branded merchandise or cash because they can be spent almost at multiple establishments.
"Employees are not expecting rewards this year, but if they received one, it would clearly foster positive attitudes and behavior that could help many companies compete in this tough economy," says Juli Spottiswood, president and CEO of Parago. "Whether it is for the holidays or as an end-of-year incentive, our research shows that employee rewards are dearly appreciated, no matter the value.
"Low-dollar prepaid cards are an easy way to reward employees given the many benefits of the cards – not to mention they remove any guesswork from giving the 'right' reward to a diverse group of people."
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