From our CEO: Thank you for 38 years

It is hard to believe that it has been 38 years. Who would have predicted that a three-person consulting firm in Las Vegas with an idea to try something different would survive to celebrate its 38th year in business with 150+ employees?

To mark the occasion in style, we are revealing our revamped brand with the launch of a new and improved website! The new website showcases a fresh new look for JNR, and offers a more comprehensive understanding of JNR’s products and services with plenty of user-friendly features. Check it out here.

Technological advancements, design trends, an evolving industry landscape… We have seen a lot of changes over the years, but more importantly, a lot has stayed the same.

We are proud that regardless of what marketplace challenges we’ve faced, we have remained true to our core beliefs that there are no substitutes for quality product and exceptional service. Whether creating a program for a few people or a few thousand, we take the trust that our clients have placed in us very seriously. We don’t cut corners, we don’t settle for second best, and we don’t lower the high standards that our clients expect and deserve.

We know that the strength of our organization lies in people – our friends, clients and employees – and we want you to know how important you are to us.

To our clients: We recognize that you have many choices today, and we thank you for your confidence in us and our abilities to help you achieve your goals. We hope you’ll continue challenging us to be better during the next successful chapter together.

To our employees: We absolutely couldn’t have done it without you, nor can we take the next steps without your support. We are so grateful for the opportunity to work every day with a group of talented, passionate and caring people.

To everyone who has helped us reach this milestone, thank you. Here’s to sharing the journey ahead!

Sincerely,

Jim & LuAnn Jalet
CEO & COO

What is prepaid card breakage, and as a manager of corporate or consumer incentive programs, why you should care.

Incentive / Promotional Prepaid Cards

Promotional one-time use prepaid cards can be an effective way for companies to reward, recognize, or incentivize a broad spectrum of audiences. Incentive programs range from employee recognition to consumer promotions. The primary objective of these incentive programs is to influence behavior of the end recipient.

What is Prepaid Card Breakage?

Within the context of prepaid incentive cards, breakage is the money loaded onto a card but not used by the card recipient by the time the card expires. The card can no longer be used for purchases at expiration even through the funds are still in the account. In the incentives industry, vendors will often take this unspent breakage as fee revenue. Breakage varies by program, but typically range between 8% to as high as 30%.

As a Manager of Corporate / Consumer Incentive Programs, Why Should You Care?

There are several ways to view breakage in the context of an incentive card program.

Business Philosophy – Misalignment with Incentive Program Objectives

The primary objective of any incentive program is to drive, incent, and reward certain behaviors. So when an incentive vendor relies on breakage as the primary source of program revenue, think about the paradigm that it sets. The vendor is financially incentivized to minimize the use of the reward that they received for the desired performance behavior. With incentive prepaid cards, spend is a measure of engagement with the program. So in other word – these vendors are better off if the incentive program drive less engagement – think about that. Whether consciously or sub-consciously, the vendor will manage the program towards less engagement because they are financially incentivized to do so.

Financial Impact – Price Transparency

Often, a vendor will bid on an incentive program with a low upfront per card fee, knowing that they will be able to take breakage as revenue.  Clients who do not know / understand breakage often do not know the economic model with which incentive services vendors operate. Incentive services companies are not charities – they do not work for free. So the question is whether the incentive program administrators are asking the right questions, and whether the incentive vendor is being transparent.

As an illustrative / simplified example, table 1 below outlines a typical scenario for an incentive / consumer promotion program (10K cards @ $100 each equating to $1MM in prepaid card funding). In this illustrative example, vendors may offer a low $1.95 per card fee but pocket the 15% in unspent funds as revenue when cards expire. Effectively, a corporate client is paying 69% higher all-in net effective card fees. Yes, the vendor is “making a bet” and the breakage rate of unspent funds is not guaranteed. Vendors are taking a risk, and arguably have a right to be compensated for that risk, but 69% higher?

Transparency is the Key

There can be legitimate benefits to operating under a breakage model (lower upfront cost, fixed budgets / costs, etc.). However,  transparency is the key – so before accepting an incentives services vendor’s offer of a $1.95 card, ask these questions:

  1. How does the vendor treat unspent funds / breakage? What is the real net effective cost?
  2. If you are designing your incentive program to maximize engagement, does it make any sense to design a program where the vendor is financially incentivized to drive down engagement?

Written by: Thomas Chiang, President | Card Services & Technology Solutions

2017 Global Meetings Industry Day

Today at JNR we celebrate the second annual Global Meetings Industry Day (GMID). Celebrations are happening around the world as we take a look once again at the influence of business meetings on our economy. Click on the infographic below detailing just a few of the impressive stats surrounding the true impact meetings have on making business happen.

At JNR we have been executing effective Meetings for our clients for more than 37 years. From a National Sales Meeting for 300 people to an International Conference for 3,000, our Meetings expertise comes together to create an engaging and impactful attendee experience that not only meets your strategic objectives but also achieves a measurable ROI.

Creating meaningful meetings where employees, clients, executives and thought leaders can come together to discuss and collaborate is an essential part of growing your business.

Let us know how JNR can help you with your next Meeting or Event.  #JNRMeansBusiness

MMB_BusinessLeaders_V3

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JNR is a full service, globally recognized leader in the incentive industry offering solutions for Meetings and Conferences, Incentive Travel, Special Events and Entertainment, Prepaid Card Services and AXS Contact Center Solutions. We have over 37 years of experience working with Fortune 500 companies across many industries. Our clients trust our comprehensive suite of solutions that offer a better way to reach performance, productivity and loyalty objectives. JNR tends to every detail of your program to ensure an extraordinary experience for your customers, employees and participants and a favorable return on your investment. We allow you to step away from the logistical details and let you focus on what you do best.

Employee Incentives at JNR

Working with an incentive travel company you may imagine that JNR employees get the opportunity for luxurious jet setting to remote locations while receiving perks from fabulous hotels and travel vendors. We however, are the ones working behind the scenes planning, negotiating and operating those programs to ensure our clients experience the trip of a lifetime that will have lasting effects of sustained motivation amongst their employees. For those of us left in the office, JNR does give employees several other opportunities to feel incentivized, appreciated and connected to the company culture.

In today’s age of millennial workers, the need to feel appreciated and socially engaged is more important than ever. Work life balance is one of the most sought after perks of a job in today’s culture. Paid time off and a generous 401K plan is not enough to make an employee feel like a valued member of a team. There are several other ways to keep employees feeling appreciated, engaged in their work and loyal to their employers.

Here are three ways JNR incentivizes our employees:

  1. Pre-paid debit cards

At the end of each quarter, JNR employees who receive a “Caught in the Act” recognition from their peers or managers will receive a bonus of $25.00 each on their personalized prepaid debit card. A “Caught in the Act” recognizes an employee for several acts of service. From going above and beyond what is asked, staying late to get the job done or taking on a big project proactively. This is an excellent example of not only verbally praising employees for a job well done, but also giving them an extra monetary incentive to keep up the good work.

  1. In-office parties and celebrations

At JNR you can have your cake and eat it too! What better way to extended appreciation to our employees than with in-office celebrations and catered events. JNR plans monthly birthday celebrations as well as fun national holidays and everything in between. From the March birthday celebration that honored national Mario Cart Day, to our summer office Olympic events, office festivities give employees the opportunity to take a break from their desk and come socialize, play a game and enjoy sweet treats in camaraderie with their coworkers.

  1. Referral program

When current employees refer a friend or acquaintance to JNR for an open position they are rewarded monetarily if the candidate is a good fit. The employee who refers the candidate will receive $50.00 on their JNR reward card after 90 days, and $250.00 after they complete their first year with the company. This is a great way to encourage familiar referrals and maintains the integrity of the applicants.

These perks are just a few little ways that JNR makes employees feel like they are part of a collaborative team. Incentives like these guarantee higher retention rates which is most cost efficient for the company.  When employees feel valued it is directly reflected in company moral. At JNR it is easy to discover the difference in our employees, our work and our service. Contact us today if you are interested in pursuing an employee engagement program for your organization.

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JNR is a full service, globally recognized leader in the incentive industry offering solutions for Meetings and Conferences, Incentive Travel, Special Events and Entertainment, Prepaid Card Services and AXS Contact Center Solutions. We have over 37 years of experience working with Fortune 500 companies across many industries. Our clients trust our comprehensive suite of solutions that offer a better way to reach performance, productivity and loyalty objectives. JNR tends to every detail of your program to ensure an extraordinary experience for your customers, employees and participants and a favorable return on your investment. We allow you to step away from the logistical details and let you focus on what you do best. Continue reading “Employee Incentives at JNR”

5 Foods for Enhanced Thinking

When running a meeting or conference, the food you offer participants will make a huge impact on the amount of information they retain. Coffee is a morning staple among most people, but the food suggestions offered below offer individuals a more nutritious, as well as a more brain stimulating way of carrying energy levels throughout the day. Here we have five staple foods that will benefit your meeting attendees.

  1. Avocados: Avocados contain high levels of Vitamin K, Vitamin B and Vitamin C. This fruit not only helps memory and concentration, but is low in sugar and high in protein. This “super fruit” is packed with beneficial fats that are also vital for healthy skin.
  2. Blueberries: This tasty fruit is small in size but packs many benefits to get your mind going. It is extremely high in antioxidants, containing Vitamin C, Vitamin K and fiber. Blueberries also have a high level of Gallic acid, which help with stress and protects the human brain from deterioration. Recent studies at Tufts University state that blueberries may be effective in improving short-term memory loss.
  3. Broccoli: Broccoli with its “brain top” appearance also plays the part of being a smart food. Broccoli contains high levels of Vitamin K and choline, which are great for memory. Broccoli is also high in glucosinolates. Glucosinolates slow the breakdown of the neurotransmitter acetylcholine, which helps the central nervous system perform properly.
  4. Dark chocolate: Who said eating for enhanced thinking would not be fun? Dark Chocolate contains flavonols, which contain anti-inflammatories and antioxidants. Fiber, iron and magnesium, also found in dark chocolate, are thought to lower blood pressure and improve blood flow to the brain and the heart. A recent study showed that eating dark chocolate one day out of the week can lower the risk of cardiovascular disease. Don’t go crazy on the candy bars quite yet. Be mindful of the amount of sugar it contains and keep this food to a minimum.
  5. Salmon: “The smartest food in the sea” is known for its high levels of omega-3. In recent studies, omega-3 is believed to stimulate activation in the prefrontal cortex, which is associated with memory, the occipital cortex that is associated with vision and the cerebellar cortex that plays a vital role in motor control. This has anti-aging effects and also acts as an antidepressant. For parents, various studies show that feeding children salmon can boost academic performance so imagine the output of your participants when loaded up on healthy omega-3s!

Food is a vital part of work and living in general. Offering foods such as the ones listed above can help peak performance in employees and make the work place a more intelligent environment to be in. When we provide proper nutrition for our bodies, it improves our memory, skin and helps our brains to remain strong and active. These are all things that are vital for success in the workplace and at JNR we want our employees to use their full potential.

Written by Shawn Brown

Works Cited

https://draxe.com/8-salmon-nutrition-facts-proven-health-benefits/ (Dr. axe)

https://draxe.com/15-brain-foods-to-boost-focus-and-memory / (Dr. Axe)

https://authoritynutrition.com/7-health-benefits-dark-chocolate/ (BCC Kris Gunnars)

https://articles.mercola.com/sites/articles/archive/2015/01/12/top-7-brain-foods.aspx

https://brainfoods.org

http://www.bbcgoodfood.com/howto/guide/10-foods-boost-your-brainpower (Nutritionist Jo Lewin)

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JNR is a full service, globally recognized leader in the incentive industry offering solutions for Meetings and Conferences, Incentive Travel, Special Events and Entertainment, Prepaid Card Services and AXS Contact Center Solutions. We have over 36 years of experience working with Fortune 500 companies across many industries. Our clients trust our comprehensive suite of solutions that offer a better way to reach performance, productivity and loyalty objectives. JNR tends to every detail of your program to ensure an extraordinary experience for your customers, employees and participants and a favorable return on your investment. We allow you to step away from the logistical details and let you focus on what you do best.

Photo: “Brain for everybody” by Ars Electronica is licensed by CC by 2.0.