Phasing Out Gift Cards - Introducing Cash for Coins!
Whirley-DrinkWorks! TeamMates,
For many years the Good Idea Club has offered a rotating variety of different gift cards and certificates in exchange for earned coins and as prizes for the Monthly Drawing. While we've tried to offer opportunities for every TeamMate, not every vendor is available, and others are cost prohibitive or difficult to work with. Some are introduced only for inventory to sit. Common complaints and suggestions deal with adding more options. In addition, the increasing requirements for taxability and visibility make it a very cumbersome program to administer and track. With that in mind, effective immediately we will begin to phase out our existing gift card inventory and consolidate our options.
The Cash for Coins Program
In place of gift cards, we are pleased to present a new option for coin purchases - the "Cash for Coins" program. Stemming from an idea submitted by Jacob McMurtrie (Plastics Engineer, Product Engineering - 1st Shift), we will now offer the ability to trade coins for cash at gross (allowing taxes to be taken out upfront instead of the end of the year). A minimum number of coins are required to be cashed in to minimize the administration, so we are offering two options right now (more to be decided based on reception). We have also defined a limited number of times throughout the year the we will process the redemption.
The payment dates will be the last Friday of Quarters 1 - 3 (March, June, and September), and the second Friday in December. The purchase must be made a minimum of one week in advance of the payment date. The checks will be forwarded to the TeamMates through their Manager using the interdepartmental mail system.
For more details, please take a look at the options live on the Good Idea Club Store right now!
Thank you,
Zack Dickerson - Operational Excellence Engineer
Ph: 800-825-5575 x1173