Digital Gift Cards Are An Easy Way to Show Appreciation

Corporate gifting is gaining popularity, and for good reason, since today’s employees feel that recognition is one the most important factors of workplace happiness.

According to Randstad, 27% of employees the lack of recognition is a factor in their decision to quit. Studies have also found that today’s workforce prioritizes happiness in the workplace almost as much as their salary, especially in younger generations. Recognizing employees for a job well done is crucial to retaining staff, as showing employees that they are valued and cared for motivates them to be most productive.

Research has shown happiness made people 12% more productive. According to Xexec’s 2018 Employee Recognition Survey, 47% of employees wish to receive awards spontaneously for good work, instead of on traditional calendar events like birthdays or holidays.

For employers, the evidence is there: investing in employee incentives and rewards year-round affects the bottom line of your business.

When looking for seamless and affordable ways to recognize staff that go above and beyond, consider digital gifting programs. These programs are easy to implement and offer a stress-free option for your HR team. Even better, they’re a win-win for employees as well: digital gift cards are convenient, immediate and can be easily accessed via mobile apps.

Makes gifting easy

Digital gifting platforms make it easy for companies to buy, send and manage hundreds of gift cards from a multitude of stores – from national brands to employees’ favorite local spots. Conveniently, these programs can be managed from a computer or mobile device, taking only minutes to send a gift card digitally for one employee or for a full department. As an added bonus, many digital gift card programs don’t charge transaction or handling fees when buying in bulk, making economic sense for businesses big and small alike.

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Digital cards allow for personalization

A common misconception regarding gift cards is that they are impersonal. However, studies found that gift cards are one of the most popular gifts. In fact, First Data’s 2018 US Prepaid Consumer Insights Study found that surveyed consumers plan to spend 55% of their annual gifting budget on gift cards. This finding makes perfect sense since gift cards offer recipients a wide range of choice, such as what to purchase, when to purchase and how. While the study found recipients of all ages preferred a physical gift card, the larger percentage of all but the oldest of survey participants were accepting of both physical and digital cards.

A key advantage of digital gift cards for employers – beside the speed of delivery – is personalization. Because digital gift cards are delivered via email, there are endless ways to customize the message and create an individualized experience for the recipient. This makes it easy for employers to craft personalized messages for each employee or group. Being digital, companies can send their recognition message with a video, gif or photo when delivering a gift card to employees – and these small details can make a big difference.

Never get lost

Digital gift cards have all the benefits of plastic gift cards, offering employers the ability to motivate and reward a wide range of people with ease. However, digital gift cards are just that, digital. They can be sent to employees at any time, and, unlike plastic gift cards, digital cards won’t get lost or misplaced or forgotten.  They are managed via apps which work like mobile wallets, storing and automatically updating information.

Digital gifts cards are a great way to reward hard-working teams. Their ease of ordering and delivering and the spontaneity they offer make them an attractive choice for busy managers and HR departments.

Dom Morea is senior vice president & head of gift solutions at First Data where he is responsible for leading the transformation and growth of the industry’s leading provider of branded stored value solutions. He was formerly SVP, Advanced Solutions & Innovation where he was responsible for leading the company’s efforts in pioneering initiatives such as: Mobile Commerce, Loyalty Solutions and heading First Data’s Innovation Labs team.

Dom is a veteran of the payments industry where he has focused on the creation and growth of enterprise-level, strategic relationships with many of the world’s largest retail, banking and technology brands.

He has been with First Data since 2004, when he returned to the company as senior vice president of product & business development overseeing product management for the company’s acquiring business which serves millions of merchants globally.

Before rejoining First Data, Dom was SVP of strategy & business development at Encorus, a mobile payments company.  Prior to that, he spent six years with First Data, serving in key product and business development roles including the start-up and growth of First Data’s eCommerce business and leading the development & launch of major acquiring joint ventures with partners such as Chase Merchant Services.

He has also held management positions in the brokerage and financial service industry with Credit Suisse and Citibank.

Dom has served on the board of Cardlinx and has previously been a board member or advisor to companies such as The Smart Card Alliance, ViVOtech, The Red Cross and PNC Merchant Services.  He has been a featured speaker at a number of payment and mobile industry events, namely: CTIA, Cartes, Money 2020, Mobile Word Congress, NACHA and the NRF’s Big Show and a sought-after subject matter expert in the payments & electronic commerce space.

Dom is a cum laude graduate of Hofstra University and a graduate of the Executive Development Program at Emory University’s Goizueta School of Business.