Full Circle Motivation has established that good employee incentive and recognition schemes improve productivity and enhance loyalty, but with workforces becoming increasingly diverse, it’s by no means easy to devise the most effective scheme. But two simple solutions are coming to the fore as rewards and incentives: the re-emergence of gift cards and soon to be launched Beem Mobile Money system.
The beauty of the gift card is that it intrinsically recognises the individuality of each employee: People are free to make their own choices when it comes to redeeming them, reflecting their own unique interests and preferences. Cards, gift certificates and virtual gift certificates cover just about every imaginable merchandise or service option available – there are cards for spa services, video rentals, travel, electronic gadgets, dining, rounds of golf and much else besides (recipients can even redeem a gift card for a different one).
Progressive managers are adopting this recognition option because they understand that what makes employees tick, what they really like and what they appreciate will vary widely from individual to individual. Gift cards more than meet this kaleidoscopic diversity in taste – and research by Ceridian indicates that 80 per cent of employees prefer gift certificates as rewards and incentives in recognition programmes.
As the American Incentive Gift Card Council puts it:
“Gift certificates/gift cards empower the recipient with the right to choose the item that most motivates himself or herself. The employee is the boss. By enabling employees to make decisions for themselves, these awards take on more power to influence behaviours like reaching sales goals or maintaining safety in the work place.”
Beem Mobile Money on the other hand brings the gift or incentive card into the 21st century and can do everything the incentive card can do. The business proposition is premised on a widespread latent demand for mobile payments services and payment on the go.
The core USP is the delivery of a service that operates independently of handset, mobile network, bank, location, country or currency, whilst ensuring that no additional hardware/software applications or related costs are required for any merchant wishing to accept payments. An additional selling point to the participant in an incentive programme is convenience – everyone has a mobile phone and with it the participant can receive credits as they are earned. Furthermore, the participant can: pay for goods or services on the go, access their Beem account and transfer funds into their bank account, pay for travel, entertainment etc anytime/anywhere, the uses are limitless.
The Beem Mobile Money system can then become a communication and recognition tool letting individuals know when credits have been transferred into their Beem account and recognising them for their efforts in the company of their peers.
A final point for incentive and recognition planners: Beem is easy, payments and transfers are instant, reward is flexible, participant communication is built in, company branding is simple, and the system is secure.