From Clunky Cards-in-Hand to Simple Digital Rewards
See how Factors Group streamlined their rewards and
incentive program with Giftbit
Giftbit is simple and straightforward.
We like to provide rewards and incentives to our employees for many different reasons throughout the year. Previously we used physical gift cards, but it was cumbersome and time-consuming.
Giftbit has given us the ability to administer digital gift rewards to all of our employees across Canada.
— Theresa Streifel, Supervisor, Reception & Administrative Services — Factors Group of Nutritional Companies Inc.
Who is Factors Group?
Factors Group is a Canadian company specializing in the research and development, manufacturing, and distribution of high-quality nutritional supplements and vitamins. They produce a wide selection of locally- and internationally -sourced supplements for the worldwide market.
How do they use rewards and incentives?
Employee rewards and incentives are an important part of Factors Group’s work culture, and prior to using Giftbit, they were purchasing physical prepaid Visa cards from a store to manually distribute to their staff.
What was the issue?
Recently, a high value of cards they had on-hand ended up going unclaimed and were nearing expiry, so Factors Group was left to use those cards up in-house by buying more cards!
This revealed how inefficient and time-consuming their rewards and incentives program had become, especially for a growing company of their size.
What did they need?
They needed to streamline their process and find a more cost-effective, simple, and logical way to maintain and grow their rewarding culture without the overhead of trying to administer and track physical prepaid cards.
Why did they choose Giftbit?
Factors Group instantly realized Giftbit’s financial benefits, time-savings, simplicity, and tracking capabilities that offered the efficiencies they were missing.
And, of course, they were pleased to discover the exciting and diverse Giftbit rewards catalog. No longer did they need to make purchases ahead of time and risk losing money on a bunch of expired cards sitting in someone's desk!
Specific features that work with Factors Group's workflow
Rewards that respect budgets
Factors Group enjoys that Giftbit doesn’t cost money to create an account and there are no hidden fees when sending digital rewards, regardless of how many they send!
Another perk that Factors Group loves is that Giftbit offers a 50% return of funds on unclaimed rewards.
Templates that are easy to create, customize, and send
Factors Group’s employee rewards and incentives program has a huge reach across their company, from thanking employees for going above and beyond, to congratulating someone on their retirement.
Factors Group can quickly and easily tailor their Templates for each purpose and then simply select the appropriate one when a reward needs to be sent.
Plus, customizable Templates mean that their employees are receiving their exciting reward or incentive alongside a meaningful message that shows Factors Group’s employees that they matter.
Bulk sending to save time
It’s convenient to be able to administer the digital rewards and incentives all at once electronically. No more having to distribute individual physical cards to every single recipient!
Detailed reporting for insightful decisions
Factors Group also values the ability to run reports for easy monitoring of their rewards and incentives program, making it simple to track claimed and unclaimed rewards, which in turn helps them to stay on top of their budget!