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Firms research gift cards as part of reward initiatives

With the holiday season over, many companies may be reviewing their employee reward and recognition programs to assess what was a hit and what missed its mark.

With the holiday season over, many companies may be reviewing their employee reward and recognition programs to assess what was a hit and what missed its mark.

While some businesses may have been lucky to witness staff members ecstatic over the awards they worked so hard to attain, others may now realize their rewards were a bit lackluster. However, it's never too soon to start thinking ahead to future recognition efforts.

One reward firms may want to try out are gift cards, according to Inc. magazine. Not only will workers get to pick out things they really want or need, but companies can save money if they purchase retailers' cards instead of general purpose ones such as those offered by Visa, American Express or MasterCard.

The latter category's gift cards often come with numerous fees, including inactivity and purchase payments, the news source explains. This can ultimately reduce the amount of money firms can spend on their employees.

Investing in retailers' gift cards may not be right for every worker or every firm, however. It's important for senior personnel to take the time to evaluate their staff members and what would be most meaningful and motivational to them.

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