In today’s culture, businesses are looking to create work environments that result in peak performance. To that end, companies attempt to provide additional incentives & benefits beyond an employee’s salary. If structured properly incentives can increase revenue or reduce costs. A study on employee performance revealed that 92% of workers agreed that given a reasonable incentive they would work harder and faster to achieve their goals versus their normal work effort. As a result, cutting edge employers are adding services such as fitness centers, free lunches, on-site childcare, flexible work schedules, yoga classes and many other perks. However, these types of programs don’t always fit the needs of all employees. Incenting employees via Prepaid Cards is a great alternative that is both cost effective and universal in its appeal.
The goal of most employee incentives are structured around either retention, cost savings or increased productivity. Below are some of the more common programs we see across the board. We have outlined examples, statistics, and tips for each of these categories.