The festive season brings with it an atmosphere of cheer, joy and for the employees, a sense of accomplishment for closing off the year. When it comes to end of year celebrations for your employees, the perfect employee reward can do wonders for motivation, loyalty and productivity, especially during the festive season. In fact, 57% of employees would like to receive some sort of reward for their end-of-year duties, while only ⅓ will actually receive one, half of which aren’t happy with what they receive.1 As you may know, when correctly rewarded, employees loyalty and productivity will increase, reducing turnover rate and improving workplace morale, which is why it’s important to reward employees the right way this season.
This guide will allow you to ensure that your end-of-year employee gifting will be effective in motivating and appreciating your employees.
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End of Year Bonuses: When it comes to bonuses at the end of the year, this is probably the most sought-after reward. Digital gift cards can easily cover this reward since they can instantly be spent online, and are much easier to distribute to employees, are hassle-free, and they offer flexibility in choice. |
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Show Your Gratitude: Rewarding employees at the end of the year is all about showing your appreciation for their hard work, and making sure it is recognized. Sending personalized “Thank You” gift cards can be more effective than a generic one. Making your employees feel recognized for their year-long hard work can do wonders for the workplace environment. |
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Gifts for the Festive Season: Time off during the festive season is common among employees and instead of cash, you can choose to gift something more personal. Offer your employees festive-themed gift cards to enjoy during their time off. Moreover, festive gift cards add a touch of excitement to the work environment, improving overall employee morale and mood. |
Multi-brand digital gift cards are best when it comes to choice. Employees often prefer making their own choices when it comes to gifting, as traditional gifts are rarely effective. In fact, 84% of employees prefer prepaid gift cards over traditional gifts. Multi-brand gift cards are not limited to an industry, and can be used instantly or at the convenience of the receiver, wherever they choose. Moreso, digital gift cards can be personalized for each employee, making them more thoughtful than generic rewards.
The significance of recognizing and rewarding employees during the holiday season cannot be overstated. As the year draws to a close, the right employee rewards become pivotal in shaping their expectations and motivations. By embracing these strategies, employers can not only express gratitude but also foster increased employee retention, loyalty, productivity, and morale among their workforce for the upcoming year.
Sources
1 “Workplace Arrangements, Rewards, and Engagement Survey” is an internet-based survey conducted by Survey Monkey on behalf of Blackhawk Network between February 25, 2022 and March 1, 2022. The sample size included 2,608 U.S. respondents ages 18+.
2 “Blackhawk Network 2022 Holiday Forecast Study” was a study conducted by Leger on behalf of Blackhawk Network in August 2022. The sample size included 2,001, US consumers ages 18+.
