Organizations who are investing in employee loyalty programs know the benefits of employee retention, productivity, and motivation. To have a truly successful rewards platform, the reward catalogue must be curated carefully. The catalogue must be customized to the organization, reward different types of behavior, and have something for every employee.

Managing all these different goals while trying to curate a catalogue for your incentive program can be challenging.

Looking for a rewards provider to help you build your catalogue? Contact us.

Below are 7 strategies to ensure a rewards program is optimized and a positive ROI is achieved

1. Select products at different price points

When curating products for a rewards catalogue, it’s important to include items at a variety of price levels. With different priced items, employees can use the loyalty program in a way that fits them, increasing the effectiveness of the rewards program

Some employees get the most benefit through more frequent but smaller purchases. Other employees find that saving up their points for larger purchases is more rewarding. Having products at every price tier is key to being able to provide a reward point system that works for all employees.

Bodum French Press as a low-price tier reward gift Cuisinart Coffee maker as mid-tier rewards gift Ascaso espresso machine as high-tier rewards gift

Above is an example for three similar items at different price points. If an employee decides they would like to get a coffee machine as a reward, they have multiple options to choose from depending on their preferences. At the low-price tier, you have the Bodum French press for the employee who enjoys more frequent purchases. The Cusiniart 2-in-1 Coffee Maker is an example of a good choice middle tier coffee maker, for someone who likes to save more for a bigger reward. Finally, we have the Ascaso Dream Espresso machine at the high price point for the employee who wishes to save their points and cash out on a high value item.

2. Select a variety of items from unique to everyday

Many believe a good rewards catalogue is populated with unique and eye-catching merchandise, and they would be right! But having simpler, everyday items is also important to include in your rewards catalogue.

The Incentive Research Foundation has found that everyday items also provide high levels of satisfaction to the employee when they are redeemed for points. Don’t pass up on the “boring” items, let your employees decide if they want a new gadget, or something simpler for everyday use.

Ricardo oven mitt as everyday employee gift Gyroor hoverboard as unique employee gift

An example of an everyday item would be this Ricardo Silicone Oven mitt. Useful – but nothing flashy, and yet still provides the intended effect of creating satisfaction. In contrast, an example of a unique item would be the Gyroor hoverboard with built in Bluetooth speaker– this interesting and eye-catching item makes for an excellent addition to the rewards program as it is a distinctive and memorable item to be redeemed.

3. Choose products for the middle

High-ticket luxury items are an ideal tool for retaining the top talent of an organization, so it’s important to include these items in a rewards catalogue. However, don’t neglect the rest. Smaller reward amounts can energize and motivate the middle 60% of employees and increase the overall performance of the entire organization.

To have success in both rewarding top performers and motivating the middle performers, select products keeping in mind both groups.

Tissot watch for top performer gift Peugeot wine decanter for middle performer gift

For example, a luxury item like this Tissot watch is an ideal product selection for the top performers to give them a high-quality reward for their efforts. To motivate the middle, an item like this Peugeot wine decanter fits this purpose well, as it requires less points - but still provides the air of elegance to the redeemer. Including this variety gives employees motivation to aspire to the next tier.

4. Select products that fit your company culture

Having a company rewards program is already in-itself an amazing way to further create a strong company culture of recognition and appreciation. Curating the right catalogue of loyalty merchandise items can further this reinforcement of company culture.

Sony Noise Cancelling headphones as reward gift for tech enthusiast Triumph Rallyball game for employees

When choosing items, select those that make sense with what your organization places value in. For example, a software company with tech savvy employees could opt for some high-end electronics like the Sony noise cancelling headphones. An organization that emphasizes work-life balance as a priority could opt for games employees could enjoy in their free time with their families, like the Escalade Sports Rallyball game.

5. Consider experience items

In recent years there is a growing trend of consumers seeking out and spending on experiences. To have well-rounded rewards program, this demand for experience should be reflected in your catalogue. Including gift cards in your rewards program is a method to allow employees to redeem their points for experiences. Include gift cards for places such as Hotels and movie theatres. This allows your employees to personalize and create their own reward experience.

Cineplex gift card employee reward

6. Keep items fresh

Adding new items to the product catalogue is important to keeping your reward program optimized. New and revised products keep the program exciting and relevant for the employees.

To keep an incentive catalogue up to date, reference consumer spending trends - they are likely to reflect the desires of your employees. Ensure the current generation of the product offered are available in your catalogue. Stay up to date on new technological advancements in electronics and equipment. Finally, look for products with lots of buzz and positive reviews.

An example of a type of item that is trending right now are percussion massagers! Google Trends shows an all-time high spike in Google searches for percussion massager in December 2021, and are still quite popular. A notable percussion massager available is the Hyperice Hypervolt 2, making it an exemplary pick for a rewards catalogue.

Hyperice Hypervolt 2 as employee gift

7. Don’t overburden with choice

While trying to cover all employee preferences and behaviors, it may seem like the best option to provide an abundance of different items in the catalogue. This can have unintended negative consequences employees inclination to browse the rewards program catalogue. Overchoice is a phenomenon when too many equivalent choices are present, and it becomes overwhelming due to the many potential outcomes.

To avoid overwhelming the employees, careful selection is important. As previously mentioned, present products that fit your organization and that reflects the desires of the employees. It’s important to keep products fresh and exciting, so consider removing unpopular items before adding additional ones.

Having a carefully cultivated rewards catalogue is important to optimizing the success of a recognition program. Ensuring the catalogue is tailored to fit your organizational culture, reflect the needs of the employees, and kept fresh and exciting are the key paths to success.

Looking for a rewards provider? With distribution rights to over 400 brands and a catalogue more than 4,000 proven products, Loyalty Source offers the most diverse portfolio of the best-selling merchandise and digital rewards from categories such as electronics, fashion, travel, home appliances, décor, and much more. Loyalty Source has a team of experts ready to help you build and select the ideal rewards catalog for your business.

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