TMCnet News
Blackhawk Network Study: Employee Reward Programs Are a Must for Businesses Looking to Retain Top Talent in Today's Ultra-Competitive Hiring EnvironmentPLEASANTON, Calif., Oct. 16, 2019 /PRNewswire/ -- Employee reward programs are a must for today's businesses competing to retain employees. New research1 revealed successfully-executed employee reward programs deepen employee engagement and loyalty. The research also found that most employee reward program managers are satisfied with the program's results, and that gift cards are the most popular reward in employee incentive programs aimed at increasing engagement and retention. These are key findings of new incentives research commissioned by branded payments provider Blackhawk Network that examined the latest employee reward program trends, why these programs are used, how rewards are chosen and which rewards employees prefer. "The U.S. unemployment rate is less than four percent and businesses are operating in an employee market. Employees are being fought over as businesses clamor for the best and brightest—and they expect more from their employers. Companies looking to keep current employees happy are turning to employee reward programs," said Theresa McEndree, vice president of marketing at Blackhawk Network. "People want to feel appreciated and valued, and businesses realize that rewarding employees goes a long way in boosting loyalty and engagement, reducing expensive turnover and encouraging employees to work harder. Our research confirms this strategy and provides insights into how to do this most effectively, including offering employees' favorite rewards: gift cards." Blackhawk's research found that the value of employee reward programs is well-known and that reward programs are must-haves for businesses competing for top talent. Of the businesses surveyed, 94 percent offer employee incentives and the majority are satisfied with them. Other top findings from the incentives research include:
More information on OmniCard's extensive reward offerings, click here. About Blackhawk Network Blackhawk Network is headquartered in Pleasanton, California. For more information, please visit blackhawknetwork.com. 1 The "Blackhawk Network Incentives Study" consisted of an online survey conducted by Murphy Research on behalf of Blackhawk Network between February 4 and February 12, 2019. The sample size of 1,002 was comprised of U.S. reward program managers who have full or partial responsibility for purchasing rewards or managing incentive programs at companies that offer employee, customer or channel incentives. Industries included in the survey include health and wellness, travel, financial, retail and telecom. The "Gift Card State of the Union" study included a sample size of 3,389 respondents between the ages of 18 and 75. MEDIA CONTACT:
View original content to download multimedia:http://www.prnewswire.com/news-releases/blackhawk-network-study-employee-reward-programs-are-a-must-for-businesses-looking-to-retain-top-talent-in-todays-ultra-competitive-hiring-environment-300939492.html SOURCE Blackhawk Network |