As the year wraps up, employers are looking for a way to recognize achievements and motivate employees to finish the year strong and drive momentum into the new year. Recognizing employees during the holiday season is a critical component to employee engagement and maintaining high employee morale throughout the whole year.
In this blog, we will discuss the benefits of end-of-year rewards and bonuses. We will also discuss how gift cards help boost performance, improve employee engagement, and contribute to positive company culture throughout the year.
How Holiday Incentives Contribute to a Positive Company Culture
Incentive programs do more than just boost performance; they play a significant role in shaping company culture. Recognizing employees during the holiday season helps create a positive company culture where people feel appreciated, fostering higher levels of engagement and employee satisfaction. Here are a few ways year-end recognition can help establish or improve your company culture:
Boosting Employee Morale
The holiday season can be a stressful time for employees, balancing wrapping up the year at work with personal and family commitments. Personalized performance rewards- like gift cards- make employees feel supported by their employer and recognized for their hard work.
Improving Employee Retention
According to a recent Gallup survey, well-recognized employees are 45% less likely to have changed jobs after two years and are 65% less likely to be looking for a new role. This provides stability within an organization and often saves money since replacing employees can cost a company between 40 and 200% of that employee’s annual salary depending on their position.
Driving Performance
Year-end is not only stressful for employees, but employers also often notice a dip in performance, as employees can be easily distracted at this time of year. Recognition rewards can help keep employees focused, productive and performing at a high level through the holiday season and into the early days of the new year.
Why Gift Cards Are the Ideal Year-End Reward for Employees
Gift cards are powerful end-of-year rewards because they are flexible, personalized, and can be delivered quickly. The ability to deliver something relevant to employees at any time during the holiday season, whether part of a planned program or as a last-minute recognition for someone who closes out the year strong, is what makes gift cards the ideal year-end recognition reward.
Flexibility and Personalization
Gift cards allow employers to give employees a useful reward. This creates a memorable experience, as employees can use it alone or share it with loved ones. Gift baskets and cash are fleeting, whereas gift cards can be used on a special experience or even on daily expenses. Whether it is a shopping spree, full gas tank, dinner out, or a fun activity, gift cards allow employees to enjoy rewards that best match their preferences, leading to greater satisfaction and a stronger emotional connection with your company.
With a tool like the Engage2Reward™ Gift Card Ordering Platform, the gift cards can even be sent with a personalized message or video, allowing the employer to individualize the reward even further by acknowledging specific contributions or achievements.
Acknowledging Employee Contributions
Rewarding employees with gift cards as a year-end bonus is a great way to acknowledge contributions and go beyond salary and benefits. Providing additional compensation in this flexible, memorable way can significantly boost employee morale, especially at a time when employees are reflecting on the year’s accomplishments and gearing up for new challenges in the coming year.
Trophy Value
The gift of a personalized and thoughtfully selected gift card leaves a lasting impression. Even after the balance is spent on a unique shopping experience or activity, employees remember receiving a tailored gift and personalized note, image, or video thanking them for their contributions, amplifying the value of the gift card for months to come.
Simple and Convenient to Distribute
Gift cards are easy to distribute and can be done quickly through platforms like Engage2Reward, making them a convenient option for HR teams managing busy end-of-year tasks. And if you're running late on employee bonuses, instant digital delivery ensures that the rewards still land in employee inboxes before the holiday break.
Gift card convenience doesn’t sacrifice experience for employees. With the Engage2Reward Platform, not only is delivery easy, but the platform offers over 300 top brand options for cards all in one place. From popular brands to flexible prepaid reward cards, there’s a gift card for everyone.
For additional freedom, the Engage2Reward™ Choice Card allows the recipient to allocate the value of the card to any of 250 eGift card brands of their choosing, empowering them to select the experience that is most meaningful to them.
As the year winds down, don’t miss the opportunity to recognize your employees for their hard work and dedication through end of year rewards. Gift cards offer a flexible, personal way to show appreciation and motivate your team through the holiday season and into the new year. By executing year-end rewards, you can establish or maintain a positive company culture, boost employee morale, and build motivation. Get more tips on how to successfully execute employee rewards in alignment with Gallup's employee recognition pillars.
Schedule a call to learn more or register today to start ordering year-end rewards with the Engage2Reward Gift Card Ordering Platform.
