What would you do without your employees?
Though a rather alarming question, it’s worth considering–at least for a moment.
Whether you’re a startup or a billion-dollar enterprise, your employees are the lifeblood of your business. Take them away, and your reputation, products, and clientele will vanish.
However, protecting your team isn’t just about retention. It’s about employee satisfaction.
In order to fulfill their potential, your employees must feel genuinely supported, motivated, and rewarded for their tireless efforts.
As we will discuss, tailored incentives–and more specifically, business gift cards–can play a powerful role in promoting employee satisfaction.
What Employee Satisfaction Is–and What It Is Not
Everyone loves “happiness”–that effortless feeling of living life with the wind at your back.
And yet, as pleasant as that sensation may be, it’s impermanent. Happiness is fleeting.But there’s a good reason for that: happiness is the fruit of something planted far deeper.
In fact, satisfaction is the parent of happiness, particularly within the workplace. True satisfaction dictates an employee’s internal value as they pursue a larger mission every minute of the day.
Satisfaction is a state of contentment.
It’s the quiet confidence that arises from doing work you’re proud of–work you believe in.
Happiness is an effect of satisfaction, not its cause. Therefore, employee satisfaction is the true engine of a dynamic workplace filled with complementary and trusting relationships.
Frankly, it’s possible to be satisfied without having the outward signs of happiness. Indeed, employee satisfaction may not always manifest in the expected form of smiles and high-fives.
That’s okay, because employee satisfaction nurtures the soul.
The Role of Employee Satisfaction on Business Success
The average person spends approximately 30% of their life at work. Over the course of their career, they will accumulate a whopping 90,000 hours of labor.
When your employees invest such precious time into your business, they deserve to be recognized for their efforts.
But true satisfaction often surpasses the financial realm.
Yes, money is essential to life, but it often fails to satisfy the heart–at least in the long run. Though generous compensation may encourage employees to fulfill the minimum obligations, it will rarely inspire them to go the extra mile.
Conversely, authentic employee satisfaction can unlock newfound levels of business performance and profitability, including:
- Enhanced operational efficiency.
- Increased employee productivity.
- Elevated sales metrics.
- Expanded retention rates.
- Improved customer satisfaction.
In fact, there’s a proven link between employee satisfaction and customer satisfaction.
According to recent studies, businesses that promote employee satisfaction enjoy a 40% lower turnover rate and a 2.5x higher revenue growth rate.
Emphasizing employee satisfaction isn’t just a benevolent gesture for your staff. It’s a direct investment in the growth and longevity of your business.
This momentous journey starts with providing the right incentives.
The Impact of Incentives on Employee Satisfaction
What drives employee satisfaction?
Incentives–or stimulus given to either motivate or reward a desired outcome.
In a very real way, incentives bridge the gap between employee engagement and business success. They promote diligence, honor effort, and give employees a cause to celebrate their wins.
Most importantly, incentives can establish a reward cycle that inspires your employees to stay disciplined and hungry for ongoing achievement.
Over time, such organic engagement will be woven into your company culture and become a primary attraction for recruiting new talent.
Delivered in both monetary and non-monetary forms, incentives often include:
- Salary raises.
- Extra vacation days.
- Referral bonuses.
- Profit-sharing.
- Mentorship programs.
- VIP experiences.
- Health and wellness programs.
According to research from McKinsey & Company, a one-off investment of $50 million in incentives can “generate $1 billion in recurring value above business-as-usual performance.”
While those numbers are impressive, there’s a more customizable (and more rewarding) way to motivate your team.
Indeed, business gift cards are the perfect tool to promote employee satisfaction.
Business Gift Cards: A Tailored Incentive
While financial incentives are appealing, they often lack customization.
Routine bonuses and raises can seem cold and generic–the opposite of a gesture meant to stimulate employee satisfaction. But where money appears transactional, business gift cards are tailor-made.
In other words, they give employees the freedom to redeem their rewards at their favorite shops, brands, and restaurants. And instead of an impersonal wire-transfer notification or terse email, your team can receive physical gift cards to enjoy in-person experiences with friends and family. Best of all, these gift cards can be replenished in real-time–so the rewards keep on renewing.
UniTeller’s “Oh My Card!”–The Ultimate Employee Incentive
You probably know us as a global leader in B2B and P2P payments processing.
While we’re proud of our reputation, cross-border payments aren’t our only area of expertise.
With our latest venture, Oh My Card! (OMC), UniTeller is thrilled to expand our replenishable gift card service in Central America.
Since its inception in 2013, OMC has issued nearly 1 million business gift cards. Today, OMC boasts 450+ registered companies, 121,900+ active users, and over 2,000 points of sale across Guatemala, El Salvador, Honduras, Costa Rica, and Panama.
Our amazing allies include:
- Office Depot
- Distefano
- Super 24
- Vinoteca
- Baron’s
- Mr. Sushi
- Sport CIty
- Aldo Nero
- And many, many more
The most influential commercial brands in the region trust OMC, and we’re excited to continue growing our partnerships.
However, we’re most excited to see how OMC transforms your company’s culture.
With Oh My Card!, you’ll motivate your team in their pursuit of excellence. More importantly, you’ll be able to reward them in a personable, tailored, and replenishable way.
After all, you can quickly reload OMC Multi-brand Gift Cards® with just a few quick clicks.
As we’ve seen, employee satisfaction not only unlocks increased sales and customer loyalty.
It unites your team in a common cause to power the perpetual growth of your business.
At OMC, we’re more than a business gift card platform. We’re your strategic ally in loyalty, rewards, and employee satisfaction.
Get started today.
