The benefits of transitioning from outdated incentive payout schemes such as grocery vouchers and physical items such as chickens to scalable, card-based solutions are a no-brainer for any company with a sizeable workforce.
“This is especially true in an era where employee engagement and productivity are key drivers of business success. Companies are increasingly exploring modern ways to incentivise their workforce,” comments adumo Payouts CEO Steve Mallaby.
“Shifting from traditional disbursement methods to card-based solutions offers more than just a modern touch, it transforms the entire process, reducing downtime and boosting productivity,” says Mallaby.
When employees receive their incentives instantly, it creates a sense of gratification, which boosts motivation and, ultimately, productivity. Unlike traditional methods that involve handing out vouchers, this modern approach is both scalable and flexible, making it easier to distribute incentives across large teams. What is more, the card can be reloaded and is far more accessible than a traditional bank account. The funds are also not subject to debit or garnishee orders.
A standout benefit of card-based incentives is adaptability. “Companies can tailor rewards for different employee groups, making this system highly versatile,” notes Mallaby. By eliminating the need for workers to leave their tasks to collect rewards, businesses can also reduce downtime and maintain productivity.
Ease of use and scale is another major advantage. “Payouts cards only have to be distributed once. After that, it is just a matter of reloading or topping them up, which simplifies and streamlines the whole process. Features like instant notifications or SMS alerts reinforce the message of recognition, promoting positive behaviour.”
Beyond convenience and engagement, Mallaby highlights the broader impact this can have on employees’ financial well-being. Card incentives also encourage financial independence. Employees can accumulate their rewards and incentives over time, shifting their mindset from short-term to longer-term planning. For example, it is a lot easier to save accumulated incentives for school fees on a reloadable card, and much more effective than getting one time grocery vouchers, which do not encourage long-term behavioural change.
Mallaby adds: “This approach helps people feel more secure in their financial planning, fostering financial independence and reducing reliance on short-term solutions. Companies should seriously consider this as a way to help their employees save and plan better.”
Moreover, Mallaby touches on the importance of real-time rewards, especially for those putting in extra hours. “When employees work overtime, they need to see the benefits immediately rather than waiting until the end of the month. This immediate access to funds can prevent them from turning to predatory lending options like loan sharks, thus providing a safer financial alternative.”
Discussing the role of card-based incentives in promoting safety, Mallaby points out that these programmes have been proven to improve performance in high-risk industries by incentivising safety. Whether you are a small business or a large enterprise, card-based payout solutions drive motivation and productivity across all industries.
Ultimately, Mallaby believes the time has come for companies to rethink how they payout their incentives. “There is a better way to disburse incentivies to employees, and it is high time for businesses to move away from outdated systems. Modern card-based incentive solutions provide scalability, adaptability, and a positive impact on employee engagement and financial well-being as a viable alternative to a traditional bank account.”