Times are slowly but surely changing, and the corporate world is no exception to the trend. The human resources division now turns to employee motivation techniques to boost the morale and productivity of their team. In recent years, a flock of companies are using a prepaid credit card as a way to reward their people for a job well done.
And based on the history and quarterly numbers of the company, prepaid credit card ranks first on the list of effective employee rewards and staff incentives. People are generally happier at work, and staff turnover ratings are at an all-time low. Most corporations accredit positive feedback to their remunerations via a prepaid credit card.
It is a classy reward.
Imagine getting a cash card as a company reward. If you experience that regularly, then you should consider yourself lucky. Not all employees work for companies that are as generous as yours. You are possibly the envy of all your friends. It is because you work for a company that values you as a team member, and they show it by repaying your loyalty by giving you something as good as cash.
The recipient can reload the card.
Some employees prefer re-using prepaid credit cards because it is reloadable. They can even buy or collect several of these to apportion their purchases. They can use a card for gas, another one for groceries, a plastic for electricity and water bills, etc. In this way, they will be allowed to track and analyze how much they spend on a particular expense.
Monthly budgeting is more relaxed and stress-free. And there is also an option to reload via a bank deposit at any time. There is no need to wait for a day or two for a check to be cleared. So they can use the money instantly.
You can use the card anytime and anywhere.
More than a decade ago, most companies gave out store vouchers as rewards to employees who take their work seriously. The downside about that is you need to go to a brick-and-mortar shop to use it physically. But the prepaid credit cards of today do not confine your spending at a single store.
And just like a regular credit card, prepaid ones are convenient. The recipient uses it for any purchase at any time of the day. You can even use it to buy both essential and non-essential stuff online.
Giving out prepaid credit cards as a reward is cost-efficient.
Some companies have ongoing employee incentive programs, so it is not just a one-time affair. If a team member gets rewards for his work regularly, then it will be easier for management to top-up via already existing prepaid credit cards. There is no demand to buy another plastic as a prize. Therefore, it is more cost-efficient and extremely convenient to award to any employee.
The owner of the company may have been the visionary for the realization of the firm. But the lifeblood of his business will always be his employees. He gains their trust by being an excellent and level-headed boss. The proper motivation is still the key to a successful company. Giving out prepaid credit cards as a bonus to their monthly salaries and allowances are a great way to ensure the loyalty of the staff.