It’s that time of year when (good) employers are looking to treat their staff. Peter Crush looks at the various choices available to them, from the small to the large.
It doesn’t pay to be a Scrooge
According to employee benefit specialist Edenred’s 2014 Reward and Recognition at Christmas Report, bosses who are more Scrooge than Cratchit do not gain much Yuletide cheer. It found 56% of staff aged 18-25 and 34% of staff aged 55 and over expect some form of reward to mark the end of a hard year in the office. Only 7% say the idea of a Christmas reward is outdated, but a disappointed 30% of staff say they didn’t even receive a Christmas card last year, while a further 9% couldn’t remember if their employer had given them a Christmas reward in 2013.
However, the research also shows firms who do offer some form of Christmas reward must choose better about what they give. It finds 34% of rewards are discarded because they lack either personalisation or imagination.
Reward Type: VOUCHERS
Who: Voucher Express (among others)
What: Range of Christmas gift vouchers ranging from M&S, House of Fraser, Currys, Harvey Nichols and Homebase.
What’s the deal? Discounts range from 2% to 7.5% depending on type of voucher purchased, and the volume purchased.
What they say: Earlier this year, The Voucher Shop found most staff (47.8%) wanted vouchers that helped cover necessities, such as food and clothing. However, second, third and fourth choices were for vouchers for department stores, holidays, and leisure/days out, indicating employees also believe they have a role in paying for luxuries. Kuljit Kaur, head of business development at The Voucher Shop, says, “The motivational impact of non-cash rewards over higher salaries is well documented. To help drive performance and improve employee engagement, employers need to offer rewards that appeal to the individual.”
Reward and House of Fraser for Business are running an exciting campaign in the countdown to Christmas, inviting you to 'get creative' with your staff rewards.
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