Christmas rewards… just around the corner
With only 115 working days to go until Christmas, many employers are turning their attention to ensuring year-end targets are met and that all employees are focused and working to the best of their ability. While some may prefer to leave Christmas until the last minute, now is in fact a great time to start planning your Christmas awards.
Ending the year on a high creates good momentum that will carry on into the New Year and a satisfying Christmas reward helps to boost morale, loyalty and staff retention at a time when many will begin looking for a new job.
In the current economic climate, businesses tempted to spend less on Christmas parties and awards are in danger of further de-motivating staff already struggling with the pressure. Rather than cut back on Christmas parties or rewards, businesses that want to motivate their staff for the New Year will be maintaining and even investing more to build morale.
In managing a Christmas awards programme, companies need to consider:
- What do they want to achieve through the award programme?
- What is the budget?
- How do they ensure the desired impact of the award programme?
- Should the award type be vouchers, credit on a card or another form of reward?
The objective clearly depends on the nature of the business but should essentially be a good end of year for both the business and employee, while the budget should be sufficient for the rewards to be inspiring.
When deciding what Christmas reward to offer, employers are faced with a staggering choice and so it is vital to conduct research among employees to establish what motivates them.
Derrick Hardman, Managing Director of Capital Incentives & Motivation says, "It is usually impossible to select a single award that will appeal to all participants in a scheme, as tastes and interests will vary.
"For this reason vouchers and gift cards are often highly effective as they overcome these issues and offer flexibility and freedom. With their vouchers, recipients can select gifts that they desire and aspire to own and they will appreciate that opportunity to choose long-term."
Capital Incentives & Motivation offers a vast choice of both voucher and gift cards to suit every taste this Christmas. As well as an extensive range of single store vouchers, Capital Bonds can be spent at over 140 well-known multiple store chains and leisure outlets, with the Compliments Card redeemable at more than 100 high street and online retailers which gives the individual unrivalled choice
Capital Incentives & Motivation has many years experience advising on and creating award programmes, so please tell us what your objectives are and we will happily present you with ideas on how to achieve them.
|
