Driving Employee engagement in Australia through reward & recognition programs is increasingly important – but how do you achieve the best results and ROI for your business. Generally, programs can be split into 2 types:
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Employee Points-based reward programs
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Employee Gift Card reward programs
Points-Based Recognition Programs:
- Generally Expensive: Implemented with lengthy IT integrations & ongoing support commitments.
- Fixed Cost: Charged on fixed $ per seat, rather than variable cost per reward.
- Unclear Value: Employees may struggle to understand the value of recognition points compared to tangible rewards like gift cards.
- Points catalogues: Often offer limited options such as retail branded cards, restricting employees’ ability to choose meaningful rewards.
- Time Delays: Points-based rewards come with built-in time delays to build enough value to redeem, reducing the immediate impact of recognition.
- More Delays: Many schemes need at least 30 days to deliver rewards to staff.
Gift Card Based Recognition Programs:
- Pay As You Go: You only pay for the rewards you send – no monthly per seat costs or IT integrations.
- Control: MicroGifts digital gift cards provide instant rewards. Employees can redeem them immediately, anywhere Mastercard is accepted (in Retail or Online), enjoying the benefits without delay.
- Personalization: MicroGifts allows personalization. You can include a personalized message from the employer, reinforcing recognition and appreciation.
- Higher Engagement: Employees develop a stronger emotional connection to the business, using custom business branded Gift Cards boosting engagement and workplace culture.
- Tax Benefits: Gifts under $300 are generally exempt from personal tax & FBT. Employees can receive the full value of the gift without tax implications for them or the business.
- Efficiency and Cost Savings: MicroGifts digital gift cards eliminate physical printing and delivery costs. They can be delivered instantly, saving time and admin.
- Flexibility and Choice: Employees can choose how to use their gift cards -whether for personal treats, necessities, or special occasions.
Aside from being a fraction of the cost of an Employee Points-based reward program, MicroGifts customised digital gift card platform many several advantages over traditional points programs when it comes to incentivizing & recognising employees. With no upfront costs, no IT integrations, and no ongoing commitments the MicroGifts platform offers the best in class, low investment alternative to points-based employee reward programs.
In summary, the MicroGifts digital gift card platform combines convenience, personalization, custom branding, and immediate employee engagement, making the platform an easy choice for employee incentives for business’s seeking the best value for money.