Feb 09, 2012 | Post by: Darren No Comments

Can you assess the effectiveness of voucher spend?

There is no doubting the value of vouchers as a motivational tool, but are they really effective? How do you measure effectiveness? With regular store vouchers, the simple answer is you can’t very easily. You can conduct surveys and revise your voucher lists in response to this, but of course you only receive feedback from those who respond.  This creates an issue as you have no way of telling if the employee is using the voucher, and therefore appreciating the reward. Is the reward suitable or is it languishing at the bottom of a drawer somewhere? You might be spending thousands on Homebase vouchers, without realising that your staff actually want to shop in Topshop – completely devaluating the reward, and even demotivating your staff!

So how can you get round this? One solution is to introduce a two-staged approach to redemption. Instead of allowing your managers to reward staff from a pot of vouchers ask them to complete a coupon or cheque with a reward value. The employee is then presented with a list of different vouchers that they can choose from. This approach has three important benefits:

  1. It gives greater flexibility and ownership to the employee, as they can choose what they would like.
  2. It allows you to measure the take up of the scheme – how many people actually redeem their cheques, which is a measure of engagement with the scheme and indicates whether the reward value is appropriate.
  3. It allows the employer to understand the range of vouchers that are selected, giving an insight into people’s interests and motivation. This is valuable information that can be used for one-off incentives or promotions.

So next time you think about rewarding employees think about the best way to measure its effectiveness.

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