December is flying by and if you’ve been too busy to get serious about corporate gift giving in the workplace, don’t worry! You’re not too late and definitely not alone. Incentive Magazine reported that spending on corporate holiday gifts will be higher in 2013 than it has been the last five years, with gift cards being a top choice. A study from the Advertising Specialty Institute (ASI) found that companies plan to spend an average of $44.98 per employee gift and $33.92 per client gift. The study noted that gift cards were gifted by 42.4% of responders. It’s not too surprising that gift cards were a top choice for employee and client gifts. Small denomination gift cards are a simple yet practical way to thank both employees and clients alike. But think beyond the gift and make sure to pay attention to the message and the presentation. When respondents were asked about the best corporate gift they’ve ever received, they appreciated a simple, thoughtful approach, such as a handwritten thank-you note…which is a nice way to package up and deliver the gift card. So remember, when thinking about employee gifts this month you don’t have to think big, just think thoughtful. And happy holidays! Read on about the ASI 2013 Corporate Gift Spending Survey from Incentive Magazine here.
Gift cards are a perfect way to say thank you and stay neutral when gifting during the holidays. It’s hard enough worrying about what to get your husband who has everything or teenage daughter who hates everything. So when it comes to deciding on employee gifts, get rid of the hassle. We've come up with 5 great ways to use gift cards in your workplace during the holidays, whether it be with your customers, employees, co-workers or for your company’s philanthropic efforts.
Delivering employee incentives can only be effective if the incentives available are satisfying to employees. Here are a few popular employee incentives according to a new Wicke's For Business article. Travel Packages: Sending employees on a trip for a job well done on a big project, or as part of a bonus is becoming an increasingly popular option for employers. It creates a memorable experience for employees and carries a fixed cost for employers. Gift Cards: Gift cards to popular retailers such as CVS/Pharmacy, Boston Market and Crutchfield carry the same flexibility of cash but have better trophy value. Employees are more likely to use the gift card on a special occasion, rather than cash bonuses that often get rolled in to paying bills and household costs. Social Rewards: Giving public praise and socializing employee rewards is a great way to reinforce desired behavior. Public praise does not only reward one employee for a job well done, but it shoes other employees what management is looking for in employee performance.
According to a new study out from the Tempkin Group on investing in employees to make them better brand advocates and increase employee loyalty, having employees who are proud of their jobs and the work they do will actual move the needle on your organization's bottom line. Investing in your workers satisfaction will increase the retention of employees, boost employeeproductivity while they are at work, and make them more willing to invest themselves in your organization. Using subtle mechanisms like loyalty rewards, helps boost employees satisfaction, and helps make employees proud of their organization. Rewards can be small, like a gift card to Whole Foods Market to help ease a family's grocery bill, or a gift card to GNC for the fitness fanatic in the office, or even a gift card to a Speedway to ease the pain we all feel at the pump. Investing in employees can be low-cost and simple to execute, but can go a long way. For more information on employees as organization advocates, check out this article from 1to1 Media.
A great company can’t be great without great talent. Take a brand new shiny sports car for comparison. Without key factors like high performance or hard workers and a sleek profile or thoughtful leaders; your shiny sports car or successful business isn't getting enough mileage. So how do you ensure that your ‘key factors’ or top talent won’t leave your company? Well it always mean you have to add another ZERO to the end of their paycheck. Most employees are simply looking for a little recognition, appreciation, challenge or leadership from their employers. Forbes interviewed a number of employees and got some pretty interesting feedback:
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