The holiday season is almost here, and it is time to reward your employees this holiday season for them to know how much you value your employees.
With annual targets and customer contract renewal deadlines almost here, it might be a good time for you to consider motivating your employees with a little something.
Why should organizations reward employees at this time?
Employees give close to half their net daily time to the organizations they work for (considering the standard 8 hours of sleep). It makes sense to reward their time with small and meaningful gestures.
The M&S corporate wing surveyed top employers in the UK in 2016. Their reports revealed that companies that rewarded and recognized employees had almost 50% higher productivity and workforce motivation during this time than companies that did not.
In this blog, we will look at how you can recognize and reward your employees this holiday season and make sure they know you care.
1. Give rewards that are shareable with friends
A McKinsey survey with over 1,000 corporate participants reported that more people valued non-financial rewards than cash bonuses. While some employees appreciate cash bonuses, other rewards tug at the heartstrings of your workforce.
To offer the best experience to your employees, consider rewards that they can share with their loved ones. Things like paid weekend getaways or shopping vouchers can make their families very happy, bringing them wholesome satisfaction for working in your company.
2. Host a virtual awards ceremony
The pandemic has been hard on most of us, and getting our minds off things by continuing with traditions is very important. Consider hosting an annual award ceremony.
It will give employees an excellent opportunity to meet and greet each other and recognize their peers’ efforts for the company. If you want to make these ceremonies a little more fun, then try adding a few mock awards that appreciate non-award-winning employees for being part of the team!
ALSO READ: Rewards and Recognition are Important for Remote Workforces
3. Offer wellness incentives
The holiday season is no time to hold back on delicious food and beverages. This is why wellness incentives can work well for employees after they are back. It will also let them know that you care about their health and well-being.
You could look into several options, from virtual yoga classes to online gym memberships. Don’t forget to look into hybrid memberships as well – these will allow them to visit centers or choose online programs depending on what’s more comfortable for them.
Not to mention that when you have a healthy workforce, your business will reap the benefits of a motivated and fit team!
4. Tailor your rewards program to individual preferences
It might be a little tough to pull off, especially if you have a large workforce, but these kinds of initiatives build long-term relationships with your employees. Consider this:
Some of your employees are probably married with families while others have just started their careers. There are many different types of employees in your company, and no reward will fit all sizes.
However, if you get your HR team to learn about their personal preferences, you could tailor-make their rewards accordingly. Not only will it build a more personal connection, but it will also save you money because all gifts are not priced the same – but valued nevertheless.
If you think this is too much work or too complicated to do on your own, we’ve got you covered!
Ovation is a user-friendly employee engagement platform offering customizable perks and rewards that support a culture of appreciation and inclusion, fueling innovation and growth.
5. Two gifts are better than one
Remember how you always wished for more gift packages under your Christmas tree when you were young? But did you care about how expensive each of them was? Probably not.
Rather than opting for one expensive gift, you could quickly go for two smaller gifts that are more personable. This way, your employees will have more to brag about, and they might even be able to share one of them with someone they love.
6. Shout out your employees on social media
This kind of recognition can be especially effective if you are a marketing agency or company with a sizable social media following. Everyone likes to feel appreciated, and in 2021, very few things match social media validation. So, why not ask your HR team to give a shout-out to your best employees on social media?
It will improve your employee culture and allow your team to share their appreciation posts and, by extension, market your company!
These are the six ways in which you can effectively reward and recognize your employees during the holiday season. Want a tailor-made rewards and recognition plan to skip all the hassle?
Get in touch with us at Ovation today, and we can help you align employee rewards and recognition programs with your company goals! Book a demo today.