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Encouraging employees in tough economic times
Year-end provides a great opportunity to solidify employee loyalty
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Minneapolis, Minn. - This holiday season brings to a close one of the toughest
economic years in recent history. Employees dreaming of year-end bonuses or next
year’s raise may have better luck waiting for it by the chimney than by the mailbox.
But there are ways to encourage employees and keep morale high even if cash
incentives are non-existent this year.
It’s important to show employees you value the efforts made during the past year, according to Maria Bavender, vice president of sales at Gift Certificate Center, a Hallmark company. Employees are key to a company’s success and employee retention should be top-of-mind for managers.
“If businesses have to make cuts in bonuses or salaries they need to find other ways of rewarding employees,” said Bavender. “Even the smallest recognition can go a long way to secure employee loyalty. If an effort is not made by an employer, good workers won’t be around when the market turns.”
According to a 1999 study by management consulting firm Kepner-Tregoe, top employees cited a lack of rewards and recognition as the most common reason for leaving a company. Since the generally accepted cost of replacing an employee is 1.5 times his or her annual salary, it pays to implement ways to keep those employees.
“Helping companies keep their employees motivated and satisfied is what we’re all about,” said Bavender. The Gift Certificate Center is the most established and largest provider of gift certificates to the business market. For over 10 years, Gift Certificate Center has been helping companies motivate employees with the Premiere Choice Award, its corporate recognition, reward and incentive tool.
The Premiere Choice Award allows the recipient to choose a gift certificate from more than 400 national and regional retailers, restaurants, travel and entertainment providers. The reward goes toward something the recipient truly values, which generates a lasting memory of the gift.
“A gift certificate along with a personalized note is a meaningful holiday gift for employees, no matter how large or small the amount,” said Bavender. “It’s a cost-effective way to show them your appreciation and allows them the opportunity to choose what they want.”
Additional information on effectively using incentives and the Premiere Choice Award is available on the Web at
http://www.PremiereChoiceAward.com.
Customer service representatives are available for assistance by calling 800-765-GIFT, Monday through Friday, from 8 a.m. - 5 p.m. Central time.
Editor’s Note: Photos, interviews with Ms. Bavender, and product samples available upon request.
Contact:
Michelle L. Hanson
612-672-8611
michelle_hanson@giftcert.com
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- Headquartered in Minneapolis,
Minn., Gift Certificate Center, a Hallmark company, is the most
established and largest provider of gift certificates to the business
market. The Premiere Choice Award, its corporate recognition, reward
and incentive tool, combines the convenience of Internet shopping with
excellent service to promptly deliver personalized awards redeemable for
gift certificates from more than 400 of the nation's leading retailers,
catalogs, restaurants, travel providers, entertainment companies and more.
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