Paper vouchers, plastic gift cards… You’d probably recognise some of the bigger names. You’ll either have received some or dished some out at one point or another. But are you still using these vouchers and/or gift cards to reward your employees? Are there not more efficient and technically-advanced options out there that your staff would likely even prefer?
Are You Still Sourcing Paper Vouchers Yourself for Your Employee Reward Scheme?
Do you still have to source these vouchers and gift cards yourself? This already presents challenges; for starters you have to second guess how many to order based on how much rewarding you intend to do. Order too many and you’ll struggle to shift them, order too few and you’ll be rushed to order more before you know it. Even if you order based on a “reward quota” for that month, quarter or year, is that really in the spirit of things? Shouldn’t you be rewarding your staff in line with how much good work they’ve done, rather than how many vouchers you have to give away?
With an employee reward and recognition app, you only need undertake a one-time set-up; after that, you can reward your employees as and when, with no need to make sure that you always have a stash of paper vouchers at your disposal. Did a member of your team win a big client this morning? Send him or her a cash reward, at your chosen value, at the touch of a button, without having to wait for your vouchers to arrive.
Do You Know How Well (Or Poorly) Your Reward Programme is Received by Your Employees?
Have you checked with your employees to see if they even like receiving these vouchers and gift cards? Many employees, especially younger ones, see these as frustratingly outdated. In an increasingly cashless society, some find it totally alien to be carrying any money in paper voucher format. Some even report that they have previously misplaced their cash vouchers or gift cards. Additionally, whilst these can often be spent in a few different stores, they can’t be spent everywhere, and many employees find this lack of flexibility to be a major drawback. Often, they would much prefer a more universal voucher.
With Highfive Rewards, you reward your employees via a pre-paid digital MasterCard, which can be spent anywhere that accepts MasterCard, worldwide. This means that your employees are free to spend their rewards wherever they like.
What Data is Provided by Your Paper Vouchers and Plastic Gift Cards?
When dishing out vouchers or gift cards to reward your employees, how do you keep track of how much has been rewarded and to whom? Are you able to view this as a percentage of your overall reward and recognition budget for the year? Can you see which individuals or departments are being rewarded most and least frequently?
With an electronic reward and recognition system, like Highfive Rewards, all of this data is pooled for you automatically and available to view in an easy-to-use dashboard. This saves you hours of time using endless spreadsheets in an effort to track where your paper vouchers have gone. What’s more, you can then use this data to set targets, adjust budgets and incentivise the relevant individuals or departments.
Digital Employee Reward and Recognition with Highfive Rewards
Highfive Rewards is a digital reward and recognition app. Available for desktop and mobile, both you and your team can track their rewards on the go, from anywhere. Highfive grants you the ability to reward your staff with a monetary value of your choice loaded on to a digital pre-paid MasterCard, delivered straight to their email inbox, which can be spent anywhere that takes MasterCard. The app’s customisable dashboard allows you to view data on how much you’ve rewarded and to whom, monitor budgets and assess how your rewards programme is performing.
To find out how Highfive Rewards could revolutionise your employee reward and recognition scheme, you can arrange a demo by emailing email@example.com. Alternatively, you can call 07470 301913 or send us a message.