Gift cards have become an extremely popular spot award for employee recognition programs. In my latest study, employees chose gift cards as a one of the most preferred employee recognition spot awards (final study results out next month).
Gift cards are popular but are they memorable?
Kiplinger Magazine’s September 2008 issue reports that 40 percent of gift cards are not cashed within the first year!
Previous research has shown that while employees say they like cash best, they quickly forget receiving it. Cash just isn’t memorable. It seems the same is probably true of gift cards. They are forgettable.
What do you think?
Do you have a gift card tucked away somewhere that you never used?
If you received a gift card as recognition and it has gone unused , was the recognition still meaningful? Why or why not?
I look forward to hearing your thoughts!
My name is Cindy Ventrice. I am the author of the best-selling book Make Their Day! Employee Recognition That Works and the companion guide Recognition Strategies That Work.
I got a gift card for work I performed that contributed to the greater good of my company (a new and improved new employee onboarding program).
What made the spot recognition memorable is that the company founder, the CEO/President, and the executive sponsors took the time to take me and my coworker out to lunch to celebrate the program’s success and highlight its importance to the company. They also gave us the gift cards there.
I actually still have the gift card 9 months later, and I do plan to spend it, but I smile whenever I think of the lunch we shared. The time they gave and the conversation we all enjoyed was much more valuable and memorable than the card (though that was a nice surprise too).
In my last company I was given a $200 gift voucher from http://www.RedBalloon.com.au
I agree that I would always prefer cash presonally but when I got this voucher…which is for experience based things like sky diving, massages etc I used the money to go gliding. Somehtuing I have always wanted to do. It was totally amazing and I will never forget how or why I earnt that voucher!