According to Parago's annual employee holiday incentives study you do not need to spend a lot of money to make your employees feel appreciated during holiday bonus time. The annual survey explores what employees are looking for in holiday bonuses and year-end incentives, and this year the findings were similar to last year. Below are some of the key findings of Parago's survey.
- Holiday incentives are still not expected: 69% of employees do not expect their employers to give end-of-year rewards or holiday gifts this year.
- A little reward goes a long way:
- 61% of employees said it would take just a $25 prepaid card to meet their expectations, up from 55% in 2011.
- 85% of employees reported that an end-of-year reward of a prepaid card valued at $100 or less would meet their expectations, up from 84% last year.
- Rewards will boost morale:
- 83% of employees said a reward would make them feel either appreciated, motivated to work harder or more loyal to the company, up from 81% in 2011.
- 82 % of employees said that receiving an end-of-year reward would mean that they had done a great job and worked hard or that their employer appreciates and/or values them, up from 79% in 2011.
This is proof directly from the workforce on how to effectively reward your employees this holiday season, so keep gift cards in mind as you plan your end of year incentive and rewards program. Gift cards work, and small denomination cards can go a long way in motivating your employees into the next year, which means an obvious ROI on your incentive investment.
For more information on holiday incentives check out this article at CompensationBLR.com
