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5 Ways to Reward Employees for the Holidays

October 22, 2014 | Written by Matt Beuschlein

As BizX’s community manager and member of the Perks program team, I’ve had the opportunity to meet with countless small to medium sized businesses throughout the northwest to help them strategize on rewarding employees. During this time I have been fortunate to learn a lot about how businesses are rewarding their employees while keeping within a set budget. With the holiday season quickly approaching, I put together my top 5 ways to reward employees.

This holiday season, employers everywhere will be showing their appreciation by giving gifts, throwing parties, awarding bonuses and giving extra time off. Last year, 72% of employers did just that according to information put together by Gray & Christmas Inc. What was once seen as an optional bonus, has become more of an expected benefit. 94% of 1,500 people surveyed by BizBash said that they would be disappointed if their office decided to not do anything for the holidays.

1. Cash Bonuses
The easiest and generally most appreciated way to reward employees for the holidays is a cash bonus. Nothing says “you are a valued member of this team”, quite like a big pile of cash.

2. Perks and Loyalty Programs
If a big pile of cash isn’t in the budget, try supplementing it with another form of currency or loyalty program. The BizX Perks program is a great way to save cash and still have the ability to bonus employees. Loyaltyworks and Quintloyalty are also two great options that will manage and run the entire incentive program.

3. Gifts
If monetary bonuses are likely to be small, then gifts would be another perfect alternative. A gift can be a versatile and thoughtful way of thanking employees. In fact, Inuit reports that 63% of employers said that they would be getting gifts for their employees during the 2013 holiday season.

4. Extra Time Off
What about offering more time off? Extra time off is always a welcomed and appreciated form of recognition, especially during the holiday season. Moreover, employees often come back rejuvenated from their time off, leading to increased productivity. If full days aren’t an option, then consider offering late starts or shortened days.

5. Throwing a Holiday party
Throwing a holiday party is always an employee favorite, with 7 out 10 employers throwing some form of holiday party last season, as reported by BLR’s Holiday Practice Survey. Just like with gifts, a holiday party can take a number of different forms, whether it’s an after work happy hour, catered lunch, or night out at a show or event. It also serves as a great chance for employees to bond outside of the workplace, improving productivity by as much as 18% according to BizBash. Lastly, it serves as a welcomed relief from the stress of the holiday hustle and bustle.

The Holiday season is the best time to show your employees how much they mean to you and the business. Whether you shower your employees in gifts, cash, time off or parties, make sure your employees get the admiration they deserve.

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