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 because gift cards cannot be confused with compensation while giving the recipient a wide range of choices for reward redemption.
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.