HR and Sales departments use branded and reloadable Visa or MasterCard prepaid credit cards to help recognize, motivate, and retain employees, and drive sales channel results.
Did you know: 47% of HR professionals believe their employees are most motivated by Visa or MasterCard prepaid cards, over other forms or rewards. Source: 2015 Canadian Incentive Trends Survey
Whether you’re looking to incent behavior, stimulate sales channels, or implement a workplace recognition program, prepaid card programs have universal appeal, are easy to implement, and provide high-ROI.
Easily recognize employees with the reward they value most.
Prepaid’s popularity is rooted in its flexibility: recipients can use them to purchase anything, anywhere, and anytime.
In fact, studies consistently show that employees value prepaid cards over any other form of compensation like merchandise which can be cumbersome and expensive.
And unlike cash, direct deposits, or paycheck top-ups (which are perceived to be part of an employee’s total remuneration package), a custom prepaid credit card is highly visible and can be used and re-used long after it’s been gifted.
Furthermore, the prestige of a network branded card (eg, Visa or MasterCard) that has custom branding and a company logo on it creates unique awareness and loyalty among cardholders, since the company becomes immediately associated with all purchases made with the card.
Businesses use prepaid credit card programs to:
- Reward and celebrate employee accomplishments, anniversaries, or other notable workplace milestones.
- Improve sales results with spiffs that drive sales force and sales channel program performance.
- Pay out bonuses or better manage other forms of employee compensation
- Incent or motivate behavior, like participation in corporate wellness programs, safety programs, or company-wide surveys and events.