A third (33%) of UK employees said that gift card rewards from their employer motivate them to be more productive, according to research from global payments and financial services technology solutions provider Fiserv.
The UK prepaid consumer insights survey explored whether employers giving gift cards to reward employees boosted retention in a competitive hiring environment.
It found that 56% received gift cards from their employers last year, up from 43% the year before. For almost three in 10 (27%), cards with a value of between £20 and £30 were deemed acceptable, while 23% said between £10 and £20 would be enough.
Almost a third (31%) of employees said that regular rewards such as gift cards would motivate them to stay with a particular employer, while 90% said gift cards made for an appropriate business gift, up from 82% the prior year.
Sam Lituchy, vice president and head of gift card solutions at Fiserv, said: “The employer strategy of utilising gift cards as an incentive to reward good work and boost loyalty is proving successful. Gift cards are the gift that keeps giving for management teams, as they seek to reward and motivate staff while driving productivity.
“Business leaders are turning to these types of incentives every day as a means to reward hard work, increase loyalty, and support staff in a high inflation environment. From the research, it is clear that gift cards are being embraced by both workers and employers, and are set to grow in popularity over the coming years.”
