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CASH BONUSES OUT, EMPLOYEE GIFT CARDS IN

Tim Millett
Published by Tim Millett
08 October 2013

Last year American companies spent a huge $22 billion on employee gift cards, signalling the shift to gift cards from employee bonuses. However, Australians best not get too excited, as the Daily Telegraph recently reported that Australia Post rewards its staff with stamps.

Not so long ago, management offered staff the incentive of quarterly or yearly bonuses in a bid to stimulate productivity, but recent reports showed that two-thirds of US companies are now turning towards the giving of employee gift cards. Part of the reason for the change is that these are easier to administer than other rewards.

While gift cards might not sound as enticing as cash, reports showed that the promise of gift cards produced positive behaviour and outcomes for a large number of companies, and that staff are mostly happy with the new trend.

Any way you look at it, they’re better than receiving a pack of 100 stamps.

Source: http://www.dailytelegraph.com.au/business/your-business/gift-cards-replace-cash-bonuses-and-pay-rises-for-employees/story-fn7ve1r2-1226624206201

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