What employers can do, though, is take steps to maximize the positive impact of whatever gifts they decide to give. The larger the organization, the less likely that the gift options selected will appeal to everyone. The company included a note acknowledging the economic situation and thanking team members for their efforts during trying times. Tanner gave employees an assortment of gift cards to choose from to help address inflation issues like rising prices on groceries, gas and household items. Competition for talent continues to be strong, she said, so "it's going to be crucial for organizations to keep their people first and foremost in mind." Even if employers give less than in years past, she said, "you've got to have some strong messaging around your purpose and sincerely acknowledge your people's efforts on top of commemorating them somehow." There needs to be some thoughtfulness, sincere appreciation and purpose behind the associated actions."Ĭox said companies may be tempted to cut back this year due to rising costs and inflation, but she advises against it. "To make a difference, the gift-giving process can't feel like a transaction-it has to be an experience. "It can be tempting for companies to just solve everything with just cash, but that won't have any meaningful impact on its own," Cox said. Like with personal gift giving, just giving workers cash or gift cards doesn't have the same impact as giving a gift that creates an experience. How to allocate the gift budget is an important consideration and should be given some thought to ensure a meaningful impact. Their ultimate conclusion: Companies should spend at least $50 per employee on awards for companywide recognition events. More expensive awards, however-worth $50, $250 and $500-generated statistically better results. They explored "thresholds of effectiveness" and found that gifts worth just $5 given to the whole staff can lower engagement and be perceived as insincere. Tanner conducted an experiment on companywide recognition to determine an optimal price point. Budget will, of course, dictate how much companies spend on holiday gifts and events this season, but there is some research that suggests a "sweet spot." Gifts don't have to be extravagant to be meaningful. "Companies are sending physical gifts to employees since the pandemic, and more often are sending personalized, physical gifts like a bottle of wine, box of chocolates, spa kit, etc.," he said. The holiday season is likely to prompt more of these efforts. Gifts have become more common during the pandemic, Mancusi-Ungaro said, as companies made an effort to engage hybrid and remote workers. Gifting, said Reachdesk CEO Temy Mancusi-Ungaro, is important "and makes employees feel appreciated, especially in remote and hybrid settings." According to research from corporate gifting platform Reachdesk, based in New York City, 77 percent of employees believe that a gift expresses how special someone is. You've got to have some strong messaging around your purpose and sincerely acknowledge your people's efforts on top of commemorating them somehow, whether that's through a points deposit, a selection of gift cards, a company or teamwide gift, or cash."Īside from bonuses, holiday events and parties, many employers give gifts such as gift cards, food or even alcohol. Tanner, a global employee recognition firm headquartered in Salt Lake City, "You might not be able to do or give away what you did last year, but you've got to do something. More than half-52 percent-didn't like their companies' holiday gifts.Īccording to Mindi Cox, chief people officer at O.C. respondents wanted to receive a reward from their employer at the end of the year, but only one-third anticipated that they would get one. Research from global payments provider Blackhawk Network (BHN) indicates that 57 percent of 2,000 U.S. What's a good gift for an employer to give, and what's the best way to give it? But the challenges of the post-pandemic economy, remote work and possible recession can make gift giving tricky. It's gift-giving season, and many employees are creating a wish list for bonuses or acknowledgments from their employer.
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