Most employees are not expecting end-of-year rewards, however, the benefits of providing them may be worth it, according to a recent survey.
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Get Your Report Now!Small rewards go a long way. A majority of respondents said that $100 or less would meet their expectations for an end-of-year reward, according to the Parago survey. Around half said they would take $25.
Expectations are low. Roughly 70 percent of respondents are not expecting end-of-year rewards or holiday gifts this year. Respondents cited lower company profits, missed quotas, lack of appreciation for employees, or the fact that their company does not normally give out holiday rewards as reasons behind no incentives.
Showing appreciation. Providing small rewards can keep staff motivated and help companies stay competitive. Just over 80 percent of employees said a reward would make them feel either appreciated, motivated to work harder or more loyal to the company. Seventy-nine percent of employees said that receiving an end-of-year reward would mean that they had done a great job and worked hard or that their employer appreciates and/or values them.
Type of reward. When it comes to the type of reward, prepaid cards came out on top (57 percent), above gift cards, or company-branded merchandise.
Source:
Parago