Use a Mastercard Gift Cards for Business Rewards & Employee Incentives
Good businesses, whether big corporate entities or small and close-knit, owe their success to the dedicated employees whose hard work makes them so successful in the first place. This applies to a variety of businesses, from fast food service to working in an office setting—and any business that makes their employees feel appreciated for everything they do is bound to see more effort and improved performances. But other than doing your best to be a fair and understanding boss who listens to the concerns of their employees, what else can you do to spark motivation and reward your workers?
Many employers like to host minor celebrations like pizza parties to convey gratitude and incentivize workers, but having the same old reward to look forward to can get stale after a while. If you want to move past the old workplace traditions and try something new to inspire motivation among your employees, you should see if a reward with monetary value like a gift card has a more positive impact on engaging your team. After all, gift cards offer recipients real buying power and can help folks afford to purchase all kinds of products and services, especially when it comes to Mastercard gift cards.
In this article, we are going to talk all about using Mastercard gift cards as a way to recognize and reward the accomplishments of your employees for all that they have done at work. Employee incentives are a fantastic way to keep spirits high at your company and motivate your workers to make the most of their time while on the clock, but you will only get as good as you give. When the reward for hard work and great performance is something as valuable as a Mastercard gift card, you can bet on getting the results you are hoping for.
Let’s dive right into everything there is to love about Mastercard gift cards and why they make for such great rewards for employees!
Mastercard Gift Card Perks
Mastercard gift cards may seem just like any other gift card on the market, but in comparison to their retail gift card counterparts, Mastercard gift cards have a lot more advantages to offer users that put them a peg above the rest. The value of general gift cards and gift certificates is usually only relevant to the specific businesses or brands that issued the gift card in the first place, meaning that the monetary amount of the gift card has no real purchasing power outside of specific locations. But when it comes to Mastercard gift cards, their value is similar to credit and debit cards in that the funds can be used to buy a wide variety of goods and services at all kinds of different retailers, from department stores and drug stores to hotels, resorts, and car rental services.
Mastercard gift cards are able to be used in pretty much any establishment that accepts electronic transactions and the Mastercard brand, making their value similar to cash. Unlike retail gift cards which function as closed-loop, Mastercard gift cards are open-loop and act as a versatile payment method. While you may still encounter some retailers and businesses that do not take Mastercard gift cards, those instances are much more rare, which gives Mastercard gift card users greater buying power.
Another perk of Mastercard gift cards is that, unlike cash, a Mastercard gift card that is lost or stolen has a chance of being recovered by the user if they act promptly. There is nothing quite as disappointing as the feeling of losing funds and being powerless to do anything about it, but as long as you have your Mastercard gift card information on hand, the gift card will still be linked to you and a recovery can be processed.
The flexibility and security of Mastercard gift cards make them an extremely helpful shopping companion, and the fact that they are not connected to any personal bank account means that your funds are never at risk. Mastercard gift cards are also excellent budgeting tools that help users avoid overspending and overdrawing from personal accounts. The value of your Mastercard gift card cannot be altered, unlike prepaid bank cards, which means you will make purchases with your current gift card balance in mind. You are also able to freely check your past transactions and the remaining balance on your Mastercard gift card by calling the toll-free number provided on the gift card or by visiting the official Mastercard website.
There are a lot of ways you can keep your employees happy and motivated at work, and gifts like Mastercard gift cards are certain to make a positive difference in your workplace.
How can I use Mastercard gift cards to motivate and engage employees?
Since Mastercard gift cards have a lot of potential buying power, they make for a wonderful way to reward your employees and keep them engaged while on the job. Mastercard gift cards can be used to purchase a wide array of goods and services that may appeal to your workers, which means they are rewards your employees will put forth effort into achieving. Some rewards that employers offer, such as snacks and get-togethers, are not quite as attractive to workers who may view those rewards as unnecessary or of little value. Though they come from a place of appreciation from the employer, they may not always come across as truly appreciative in the perspective of some employees. That is why a gift like a Mastercard gift card can be substantially more impactful and actually cause employees to feel a sense of desire for it.
When a reward has monetary value like a Mastercard gift card, workers may be able to imagine many scenarios where they can make practical use of their Mastercard gift cards. The funds on a Mastercard gift card can be used to purchase everyday necessities like groceries and clothing, items for entertainment such as movie tickets or video games, supplies for the office, gifts for others, and pretty much anything else your employees could want or need. With so many potential purchase possibilities that come alongside Mastercard gift cards, employees can preemptively start brainstorming for what things they want to use their gift card for, which motivates them to do their best while at work in an attempt to earn the reward.
Can I Customize Mastercard Gift Cards for my Business Needs?
Yes, you can! And better yet, the process of customizing a Mastercard gift card is not all that complicated and should not take up a significant chunk of your time. After all, as someone who manages a business, time is a crucial asset that always needs to be put into consideration when making business decisions.
If you are thinking about adding Mastercard gift card rewards to your business in an attempt to motivate and engage your employees while on the clock, it only makes sense that you would want your business brand to be represented through the Mastercard gift cards you distribute. While it is true that the design of a Mastercard gift card will not have an effect on the overall spending value, modeling the design of the Mastercard gift card to suit your business makes its impact as a reward or an employer-given gift all the more powerful.
A customized Mastercard gift card can be as ostentatious or as simple and refined as you see fit. While professionalism is to be expected with any type of company gift, the degree of professionalism varies on a case by case basis. Some companies are much more rigid when it comes to how they interact with their employees, while others may take more of a friendly, laid back approach. You can shape the result of customized Mastercard gift cards around the type of image your company wants to uphold.
Whether you wish to proceed with a fun design or prefer to stick with something a little more conservative, you can rely on the fact that employees will be appreciative of the gesture. What is truly important is putting the business’s name out there so that the gift or reward is linked to the company without a shadow of a doubt.
You want to ensure your workers who receive a Mastercard gift card on account of their hard work and all of the effort they put forth for the company are reminded of the reason they received it in the first place – because their employer is rewarding them for their accomplishments within the company. A standard, non-personalized Mastercard gift card is still going to be appreciated by your employees, but a Mastercard gift card that is branded with your company’s logo serves as a way to remind them that the business acknowledges and commends their performance as workers.
Customize Mastercard business reward cards with Gift Card Granny
Do you feel that creating customized Mastercard gift cards for your business is a fantastic way to promote your brand while giving back to the employees who keep your operations running smoothly? If yes, then your next step is finding a suitable way to purchase enough Mastercard gift cards for your business’s needs. One online retailer you should definitely consider checking out for Mastercard gift card orders is Gift Card Granny.
There are many places that sell Mastercard gift cards, but Gift Card Granny makes designing a card with your company’s brand a simple endeavor that can be completed in a few short minutes. Bulk Mastercard gift card orders placed via Gift Card Granny are suited for small businesses who are only ordering a maximum of fifty cards, or less than ten thousand dollars in value. For anyone who needs to order more than fifty cards for their business, PerfectGift.com can help you get what you need through their self-service portal or by connecting you with an account executive.
If Gift Card Granny meets the needs of your small business, then do not waste a second in placing a business order for Mastercard gift cards with us. Once on the Mastercard gift cards section of our website, navigate to the ‘Mastercard Business Rewards Cards’ link, where you can incentivize your employees and even reward loyal clients with a professional and convenient gift. Select ‘Small Business Order’ to then be brought to the page where you can customize your Mastercard Reward Cards to make them specific for your company.
Folks who decide to place business orders for Mastercard gift cards using Gift Card Granny will be pleased to note that you can choose from a list of pre-designed card options or opt for uploading your own design. If you upload your own design, you can easily add your custom logo to a Gift Card Granny background or choose a completely new background image. Mastercard gift cards may be delivered physically or as digital gifts, and orders specifying physical delivery will be shipped out same-day if the order is placed by 4PM EST. Gift card amounts can range from $10 to $500 and the funds will never expire, though certain dormancy fees may be applicable if the gift card remains inactive for a long period.
Are there any tax implications for using Mastercard gift cards for employee rewards?
Mastercard gift cards given as supplemental wages to employees are considered taxable income per the IRS. While purchasing a Mastercard gift card from a retailer to be used in the future is not a taxable transaction, a Mastercard gift card given from an employer to an employee as a bonus or commission on sales should be taxed as normal wages, meaning it is subject to Social Security, Medicare, federal income taxes, and state income tax if applicable.
There may be some limited situations in which a gift card from an employer is not considered taxable income, but employers are encouraged to familiarize themselves with current tax laws to ensure no errors are made on their part and your employee’s taxes are properly accounted for.
Do you feel more informed now that you have a better understanding of how Mastercard gift cards can be incorporated into your workplace? We certainly hope so. Though it is a lot to take in, doing your part to make your employees feel supported and seen on the job can be the difference between stress and success for your company. Remember that happy, well-compensated, and appreciated employees are much more likely to give you the results you want, so be sure to make business decisions that encourage your workers to always put forth their best effort and strive for excellence!