Motivate employees with the right rewards strategy
When an employee goes above and beyond, encourage them to keep up the hard work with a performance reward. And because reward and recognition programs frequently offer t-shirts, plaques and trophies that people don’t really want, it’s time to add highly desirable Mastercard® Prepaid Cards and popular gift cards to the mix.
Be sure to reward individual achievements
It’s great to be part of a winning team. That’s why many companies reward cross-functional teams that complete complex projects. But for most employees, individual goals and accomplishments are day-to-day priorities. In fact, our research revealed that the most desirable employee reward is an annual £150 award for achieving an individual goal.2
To gain insights into the emotions that employee rewards and recognition can evoke, we asked people who are currently eligible for these programmes how they feel about them. Here are the top three responses:
- 3 out of 4 respondents said, “The reward programme makes me feel valued”
- 3 out of 4 respondents said, “The reward programme makes me feel like the company cares about me”
- 3 out of 4 respondents said, “Financial rewards are just as important as public recognition”1
It’s obvious that employee incentives can drive positive feelings and reinforce desirable behaviours. If you are starting or refreshing a rewards and recognition programme at your workplace, let us help you offer the right rewards.
Discounted gift vouchers
Give employees access to our Voucher Store, where they can buy discounted physical and digital gift cards for themselves or as a gift. Alternatively, with our Select platform you can provide a code for employees to redeem a gift card of their choice.
39%
of employees surveyed feel underappreciated at work
77%
of employees report they would work harder if they felt better recognised
44%
increase in employee performance can be attributed to an incentive programme1
People prefer prepaid cards
In today’s competitive hiring environment, attracting and retaining top talent is more important than ever. That’s why you need to have a rewards and recognition programme that’s best-in-class, offering incentives that appeal to all the different people in your organisation. Our research2 has shown that the most desirable and motivating rewards are Mastercard® Reward Cards. Here are just a few of the benefits these incentives offer:
- Create a branded Mastercard Reward Card with your logo, and your top performers will be reminded that they received this reward from you
- Add your employees’ names to the cards for an extra personal touch
- Include a brief message (e.g., WELL DONE) on the card as a reminder of how the reward was earned
- Give your employees spending flexibility since these cards can be used everywhere the applicable network’s debit cards are accepted
Incentive reward products
Explore the variety of rewards that we offer for incentive programs. They include physical, digital and mobile wallet–enabled options to appeal to all everyone you’re trying to motivate.
Reward Platform
Select is a reward platform that gives the employee the choice in gift. Send over a code with personalised messaging, and your employee can redeem for a wide range of rewards.