During the pandemic, when the holidays rolled around, many companies traded in elaborate team parties for some sort of staff appreciation gifts. But with today’s economic concerns and tightening budgets, those are in jeopardy as well.
According to BHN’s latest research, a dismal 33% of employees expect their employer to distribute gifts during the holidays this year. Less than half (45%) report receiving one last year.
The numbers for remote employees are even lower: Nearly 60% didn’t receive anything from their employers last holiday, and only 18% expect something this year.
From a business perspective, holiday rewards might seem like an easy place to make cuts. But the benefits far outweigh any costs. And fortunately, staff appreciation gifts don’t need to be a huge hit to your bottom line.
Our holiday survey shows:
But it’s not just about how staff appreciation gifts and recognition make your employees feel. Companies that prioritize employee engagement and satisfaction see better business results as well, from higher productivity to less turnover to easier recruitment. Check out these statistics to learn about even more benefits.
OK, you understand the advantages of rewarding your employees during the holidays. After ditching the full-blown holiday party (which only 2% of employees preferred anyway, according to our research), many human resources leaders and team managers go straight to the tried-and-true holiday backups: catered in-office meals or branded apparel and mugs. But our research shows that employees overwhelmingly prefer more flexible rewards, and therefore, those old-school options won’t be as effective for motivation and morale. See what gifts aren’t working and get tips on what to give instead.
Well, if employees want flexible staff appreciation gifts, what’s more flexible than cash, right? But cash bonuses have their own limitations. In many budget-conscious industries and companies, the large year-end bonus is a thing of the past, and smaller amounts just don’t have the same impact when added to a normal paycheck. That’s where gift cards offer an ideal alternative. Not only are they preferred by 82% of employees in our latest survey, they’re also meaningful even in smaller denominations and can be delivered and redeemed digitally on the spot, offering instant gratification. Here are more reasons that gift cards are better than cash bonuses.
If you think digital gift cards aren’t personalized enough for staff appreciation gifts, you’re likely in the minority: More than three-quarters (77%) of consumers told us that they consider digital gift cards to be an appropriate holiday gift. But there are also ways for you to make them more special, if you want. Create a unique experience with the delivery, whether that means building gifts into a virtual award ceremony and distributing them publicly or just adding a custom message for each employee or team. Try these other creative ideas for delivering virtual employee gifts.
Want a streamlined way to send out staff appreciation gifts digitally this holiday? Check out our integration with Microsoft Teams, which lets you distribute rewards in chat messages or during live meetings!