Use preloaded credit cards to reward your staff
Everybody enjoys being rewarded for hard work and your employees are no exception. Rewards are a great way to encourage a particular behavior, inspire friendly competition, and boost your overall customer service and sales performance.
One possible hurdle in offering rewards is determining what type of reward will motivate a particular employee. Gift cards are a good place to start. But a gift card to a popular restaurant might be exciting to one employee, and disappointing to another. And no business owner wants to waste money on a reward that isn’t appreciated or considered a valuable goal for employees to strive toward.
A great solution to this problem is preloaded credit cards. With a preloaded credit card you can determine the amount to give, and the recipient can choose to spend those funds on any item, service, or experience they want. A preloaded credit card eliminates the guesswork and is something everyone can appreciate.
Let’s take a look at some examples of reward programs that solved a problem by using prepaid cards.
A popular retailer sells electronics and offers a service warranty on nearly all the electronic items for an additional cost. The warranties are a decent source of revenue for the business, as the electronics sold rarely need servicing under the warranty. The problem, is that without a physical item to ring up, the cashiers don’t always remember to offer the warranty. The result is that warranties are not being sold at the same rate as the electronics. The owner decides to implement a system wherein employees are rewarded for every warranty they sell. Once an employee hits 20 warranties, they receive a $25 preloaded credit card. Now, it’s rare for an employee to forget to offer the warranty.
A popular local bakery specializes in ice cream cakes. One of the things that makes the cakes popular is also what makes them difficult to transport—the heat. The business relies on careful packaging and dry ice to keep customers’ cakes from melting during transport in the summer months. The business owner has had more than one complaint about the cakes melting before the customer got them home and realized that some employees were not offering dry ice with every ice cream cake purchase. The merchant solved the problem by rewarding employees for every order they packaged with dry ice. Since implementing the program, the merchant has not had any melting complaints from his customers.
A sporting goods store pays its sales associates a special bonus, or spiff for the sales they make. The spiffs are determined by the profit margin of the individual goods. The sales staff members get the spiff money added to their paychecks once per month. Since it’s against company policy to share earnings information with fellow employees, the staff doesn’t know who the top sales person is, and do not view the spiff system as a competition. The sales manager decides to try to increase sales by holding a running competition for the highest earner of sales spiffs every month. The winner gets a $100 preloaded credit card. Now, the staff can see where they rank and try to outsell their co-workers to win the prize each month. The employees enjoy the competition, and sales have never been higher.