By Derek Irvine
Globoforce
The Incentive Marketing Association issued an interesting executive white paper on “Putting Trophy Value into Your Gift Card Program.”
Based on a study that found gift cards to be the most frequently used type of corporate reward, the white paper highlights the trophy value in gift cards over cash in reward and recognition programs.
The Globoforce innovative gift card model remains unique in our offering of gift cards for thousands of outlets around the world.
The gift cards are merely the key, however, that unlocks the treasure chest of millions of shopping, dining, entertainment, travel and adventure options and experiences for your deserving employees.
It is this opportunity to share the reward experience with friends and family – and even brag about it in a socially acceptable way – that brings the trophy value to gift card rewards.
It is also the best method to reinforce operational excellence goals through recognition. This is simply not possible with cash-based rewards or old-school merchandise catalog programs that limit the choices to a very small pre-selected list.
Derek Irvine is vice president of global strategy at Globoforce Inc., which provides employee recognition solutions to companies around the world.
Globoforce is headquartered in Dublin, Ireland, and has U.S. offices in Southborough, Mass.