Study finds that over four in 10 say employee incentives and rewards programs would motivate them to stay with their current employer
The August 2021 Gift Card Gauge from Fiserv found that 41% of respondents would be motivated to stay with a particular employer if offered employee incentives and rewards. Respondents also emphasized their desire to feel celebrated, with 76% denoting that employee rewards and incentives are just as important as those for customers.
Fiserv is a leading global provider of payments and financial services technology solutions. Additional findings from research conducted in August 2021 includes:
- 78% said incentives/rewards make them feel valued and appreciated.
- Nearly one-third feel employees should be rewarded quarterly.
- Gift cards are the reward of choice, with 88% saying they are an appropriate business gift/reward. Another 63% indicated they have received one from their employer.
- 70% of respondents said they would prefer a gift card over another reward of equal value.
- For employers looking to reward their employees with gift cards, nearly half of respondents noted prepaid cards (Visa, AMEX, etc.) as their top choice, with 20% opting for online retailers (Amazon, eBay, etc.).
- 34% of respondents said rewards should be valued at more than $50.
- Gift cards can motivate employees to make lifestyle changes, as 75% said a gift card would encourage them to do things like quit smoking, get an annual physical, and more.
- 65% of respondents would be willing to get the Covid-19 vaccine if their employer offered a gift card incentive.
Disengaged workers cost the nation billions in lost productivity each year,” said Tom Niedbalski, Vice President, Gift Solutions at Fiserv. “Employees want to feel valued, so rewarding them for the same loyalty provided to customers can go a long way in improving productivity, morale, and most importantly, retention.”
Fiserv’s August 2021 Gift Card Gauge is a survey of over 1,000 U.S. consumers age 18 and older conducted to better understand their position on employee rewards. The margin of error is +/- 3.064%.
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