There's a reason why businesses end their year full of prosperity—employees. To give back, a week full of rest day, a more lenient schedule, a festive atmosphere is not enough. Holiday bonuses, gifts, and recognition programs are the ones employees look for, which in turn, acan even boost their morale for the next year.
Whether you're a startup or your business have been in the industry for a long time, here's how why you can boost employee morale and productivity all the way to the next year through holiday bonuses, gifts, and recognition programs.
Positive Workplace Culture
Holiday bonuses and gifts create a recognition culture and appreciation. Engaged, motivated employees result from feelings of value and acknowledgment. Gallup conducted one survey; organizations that recognized their staff experienced an increase of 10% in employee productivity and loyalty.
By giving bonuses or providing gifts, companies show that the employees are indispensable to the success of the organization. This creates a feeling of belonging and makes the work environment better.
Increasing Financial Security
For most employees, the holiday season often adds financial burdens through the pressure of gift-giving, travel, and other celebrations. A holiday bonus at the right time would alleviate such burdens and express concern for their personal needs. Employees tend to feel less stressed during the holidays when they are financially cared for, thus concentrating more on their work.
In addition, these monetary incentives frequently work out to be better overall satisfaction. Workers receiving holiday bonuses are more likely to believe that their employer truly cares about their welfare and will be more loyal and a better advocate for the company.
Incentivizing Performance
According to Achievers, holiday incentives can also be motivational. For example, attaching holiday bonuses or gifts to performance metrics pushes employees to work harder. The well-defined criteria for earning those rewards can inspire employees to do more than what is expected, not only for their good but for the good of the organization, too.
It also boosts the reputation of the companies as an employer of choice. In a competitive job market, the potential employees are attracted to organizations with employee-centric policies. Visible markers of such commitment from an organization would be holiday bonuses, gifts, and recognition programs.
For some ideas on what kind of holiday bonuses, gifts, and recognition programs businesses can provide, you can look into cash bonuses, personalized gifts, and recognition events like Christmas or year-ender parties.
While holiday rewards immediately boost morale, their long-term impact is deeper. Valued employees are not going to leave the company. This means that the firm will have a stable and experienced workforce, leading to cost savings in recruitment and training and a more cohesive organizational culture.
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