Why we launched a Rewards Card
Apr 11, 2023
Last week, we launched the Collective Benefits Rewards Card!
The Rewards Card gives flexible workers the rewards they actually value, and businesses the ability to incentivise their people without breaking the bank. One card, everyone benefits.
So far so simple, right? But why did we build it in the first place?
Why a Rewards Card?
The answer: because current rewards solutions are unfit for the world of flexible work. They don’t make it easy enough for a worker to quickly access rewards that *actually* matter to them. Leaving businesses frustrated with high spend, and little impact.
What made us realise this?
Enter: The cost-of-living crisis
Cast your mind back to the start of the cost-of-living crisis: right before inflation skyrocketed, fuel prices became unspeakable and your food shop didn’t make you wince.
Many of our workers couldn’t afford the fuel to work. In response, we launched a fuel discount card that was - crucially - free for businesses to give to their workers.
Its impact on workers
The response blew us away - and we realised the true scale of the impact the crisis is having on the demographic that we serve. Our research team backed this up. We learned that 73% of flexible workers say their savings won’t last a month. They told us that “everything around us is getting harder to cope with because of how expensive everything is” and “Sometimes it’s hard to get by. Even when I’m not well physically I force myself to work”.
They’re also a demographic that’s woefully underserved by financial institutions, with many unable to access things that can make the cost-of-living crisis easier, such as a rewards card (hint hint…).
Its impact on businesses
Meanwhile, businesses are struggling too. Plenty of their people are giving up the flexibility we know they value so much, in favour of the highest compensation, or a more consistent income.
To incentivise workers and fulfil business objectives, businesses have turned to relying on unsustainable retention solutions like cash bonuses, or solutions that aren’t custom-built, are time consuming to implement, and have rigid pricing and unprovable ROI.
Our solution: The Collective Benefits Rewards Card
The world of flexible work wasn’t working for everyone. So we built the Rewards Card.
It’s a solution that’s simple to understand, simple to manage, and simple to prove ROI:
Savings - cashback on all business spend, and savings on essential items - means businesses stay top-of-mind, by rewarding their workers every single time they make a purchase.
Insurance continues to offer peace of mind - for both the worker, and the business.
Instant Pay enables workers to take more control over their paychecks, while businesses can incentivise them further with boosts and cashless tips.
It’s a vehicle that helps the worker and the business to power each others’ success:
Leading to a world of flexible work, where everyone benefits.
Want to learn more about the Rewards Card? Just head here.
Know someone that might be interested? Any successful referral will get a *top secret* reward - email firstname.lastname@example.org to find out more.