Swift Prepaid Solutions reveals findings to help employers improve
retention and engagement
CHICAGO–(BUSINESS WIRE)–The unemployment rate in the U.S. is the lowest in 50 years at just 3.6
percent. And while Americans are working, Gallup
reports that 70 percent of employees are disengaged and unmotivated
at work. To reverse this trend, employers are looking for methods to
reduce employee disengagement, which can lead to poor productivity and
retention.
A new study from Swift
Prepaid Solutions shows that developing rewards and recognitions
programs around prepaid incentives can help employers retain, satisfy
and engage their current workforce while also incentivizing employees to
have a hand in growing the company through referrals.
In fact, the study found 19 percent of salaried employees and 29 percent
of hourly employees intend to leave their job in the next year but the
majority would stay an additional year for three $50 prepaid cards
rewarded over a one-year period.
Other key findings include:
-
Only 24 percent of surveyed employees are satisfied with the
investment their organization makes in incentives and rewards. -
68 percent would prefer a $750 prepaid card over a four-day
all-inclusive vacation package, and 72 percent would use the prepaid
card on everyday or emergency expenses versus unique experiences or
gifts for others. -
78 percent would use three or fewer sick days in exchange for a $75
prepaid card. -
92 percent would participate in a wellness program for a $25 prepaid
card. - 88 percent would refer a job candidate for a $100 prepaid card.
“We’ve identified a huge opportunity for employers to invest a little in
rewards and recognitions programs to drive incremental increases in
employee satisfaction, retention and engagement,” said Rodney Mason,
Swift’s Chief Revenue Officer. “A minimal investment using prepaid
incentives can, in turn, save the company thousands and even millions of
dollars per year with the added benefit of improved company culture.”
View the full study here www.swiftprepaid.com/employeestudy.
About Swift Prepaid Solutions
Swift is leading the payments movement to greater value through
high-impact brand connections at the intersection of the payment. Swift
optimizes fast corporate-funded payments to businesses, their employees,
customers, contractors, participants and channel partners through
digital and physical card payments in 160+ countries, 17 languages and
10 currencies. www.swiftprepaid.com
Swift is owned by Syncapay, a holding company. www.syncapay.com
Contacts
Julia Carder
972-850-5859
