Incentive Magazine: Survey Finds Low-Value Prepaid Cards Still Make an Impact
In an article published this week, Incentive explored our new research that shows that even a small value employee incentive will go a long way to keep employees motivated and feeling appreciated and loyal to their employers this holiday season. In fact, 64% said a prepaid card of $50 or less would meet their expectations for an end-of-year reward, with 55% expecting just $25.
Juli Spottiswood, our President & CEO told the publication:
“I think that people are realistic: the economy is still tough, there is a lot of uncertainty, and people have had a tough couple of years. Employees who [don't have high] expectations will get surprised and be delighted knowing that they’re appreciated, and it doesn’t matter how big the reward is.”
Employees want prepaid cards for rewards this holiday season
This week new research was announced by Parago examining what employees expect and want from their employers this holiday season in terms of rewards or bonuses – and prepaid came out on top.
When employees were asked what type of holiday gift they would like to receive, prepaid gift cards backed by Visa or MasterCard ranked highest with 57%, over gift cards, company-branded merchandise or cash. An overwhelming 85% of survey respondents said they would feel grateful if they received a prepaid card as a holiday reward this year.
When asked about their favorite features of prepaid cards, the majority pointed to the fact that prepaid cards can be spent almost anywhere and at multiple retailers.
Leading prepaid industry publication Paybefore covered these findings this week, here.
Incentive Mag: Company Creates Portal for Ordering B2B Visa Prepaid Cards
Incentive magazine today covered Parago's new prepaid card incentive ordering portal, PROP.
The portal is designed to make B2C and B2B prepaid incentives procurement quick and easy. With PROP as a central destination, large organizations can allow multiple departments (i.e. human resources, finance, and sales and marketing) to customize and order prepaid cards for their specific needs.
Says the article: "Parago is timing Prop’s release now, as the 2011 holiday season is approaching, and businesses will be expected to purchase gifts for their employees and customers.
'Companies like to use prepaid cards,' president and CEO Juli Spottiswood notes, 'because of the economy. It’s kind of a cash equivalent but not quite, and it feels like something special, when sent with messaging and card carriers.” She adds, “They can be spent everywhere, making them more appealing than closed-loop cards.'"
Read the full article here.
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