Everything you need to know about employee gifting

As a company it is possible to boast about stylish offices, flexible work hours and a fun working environment however, typically it’s not enough to ensure that your employees are satisfied. This is the point where appreciation and appreciation for your employees become a factor.

Did you know that appreciation can have an enormous impact on employees’ health and wellbeing? As per the Emergenetics International article, “Showing gratitude can improve an individual’s health, improve more restful sleep, boost the metabolism and decrease stress. This has a direct impact on work performance and the interaction between employees. By rewarding employees it’s not just about improving engagement and performance, but also your employee’s health and well-being are also improved.”

This is why it’s so important to develop an appreciation program that is consistent with your company’s goals, values and values and most importantly, one that everyone can take part in and gain from.

One of the most effective methods to boost employee loyalty and engagement is to reward employees with gifts and reward and recognition. HR policies tend to be directed toward recognizing talent through the form of gifts for celebrations during holiday events or with performance awards. In addition, these gestures motivate employees, they also assist in creating an environment of positivity and improve employee relations.

Why do companies gift?

While it’s true that employers offer incentives to boost employee engagement and happiness, we need to take a look at the larger perspective. What can an employee expect when they’re content and feels valued in the workplace? They anticipate working with the company in the next several years. Thus, employee gifts lead to higher retention of employees, which is something that every company and HR manager strives to achieve.

How can proactive employee gifts and R&R affect your company and your employees?

Here are the top four benefits of employee recognition as well as gifts that create positive changes in every business, no matter how small or large.

1. Encourage employee satisfaction

Recognizing your workforce gives them the motivation and confidence they require to continue moving forward. In addition the recognition of employees and gifts can boost loyalty and encourage collaboration. Your workplace must always promote positive reinforcement and encourage constructive feedback. Additionally, employees who are happy have more energy and are productive. This is a win-win situation for the employees and you.

2. Improve motivation and morale

Make sure that the leadership of your company is an integral factor in motivating employees. Making sure your employees know that the hard work they put into it is appreciated by management could encourage your organization’s most valuable resource.

3. Create a self-improvement culture

Giving recognition to employees and giving gifts at work can provide the needed drive to self-improvement in employees. It’s a win both for both you and your employees. Your employees should have the opportunity to develop and reward their efforts in the process. Recognise and reward employees who are willing to improve themselves.

4. Retain, attract and inspire talent

We cannot stress enough that giving recognition to employees is among the most effective methods to keep your employees. In addition to retention, a well-designed R&R program could be able to attract new talent and motivate employees to join your business instead of another company that doesn’t have policy in place.

Employee gifts and R&R The challenges that employers have to face

The importance of rewards for employees and recognition is rarely discussed in the business world. There is however an absence of satisfaction with the recognition of employees. Let’s look at the reason.

It is due to the numerous logistical issues related to implementing a successful employee rewards program that creates resistance in a lot of medium and small-sized businesses to put it in place. A study by The Aberdeen Group, The Power of Employee Recognition 2013 statesthat “Only 14percent of companies offer managers the required tools to reward and recognize employees.” For those businesses that scattered across multiple locations the whole exercise could be a huge expense. This is precisely why R&R is often left to the side.

Let’s write down the issues that each employer will face while trying to establish a foolproof employer gifting or R&R program:

1. Logistics and procurement-related questions

It’s not easy that HR professionals find rewards and gifts for their employees by hand, particularly when the logistics are a nightmare. From ordering to monitoring them, the entire task is difficult for the entire team. Every HR professional doesn’t want nightmares about logistics to be realized!

2. Transparency concerns

It’s not uncommon to see budgets that are supposed to be used for employee gifting to be mishandled due to a lack the transparency or accountability required in certain circumstances. Many companies complain about difficulties in managing their finances, particularly because often, in the instances of gifts based on goods the trail of money may not be recorded online.

3. Pilferage

As employee gift cards have some amount of money taking vouchers and coupons is a constant issue for those who manage R&R. The theft of vouchers or gift cards with cash loaded could be detrimental to the overall process of gift giving in your organization.

4. Vendor management

Coordination with various vendors is an exhausting task that results in a gifting program that goes on beyond what is required. From making sure that the vendor sticks to timeframes, to negotiating prices or deals whole logistics process is as long as it can get. The ability to meet expectations is a significant problem.

5. Control and customisation

The incorporation of company-specific rules into the gifting program isn’t simple today, with the majority of solutions designed to meet the requirements of the offerings of vendors. It is possible to include a specific message or even include your logo or company name, set the expiry date of vouchers, and the list goes on. It is not often that you have control over the customization of products.

6. Insufficient on-the-spot solutions for gifting

If accomplishments aren’t recognized as they occur and the rewards are rewarded, they will are lost. While some awards and presents are something you can plan but there are others that happen without planning. An employee who wants to recognize the team member who has put in a great performance , or maybe the birthday of an employee or vendor who has done something extraordinary deserves to be recognized. In these situations, if you need to gift on the spot there are two options: keep a constant inventory of gift vouchers and cards or have a system that will make a gift according to your needs.

7. There is no information regarding the gifting exercise you completed

After the vouchers have been distributed, you don’t are able to find out how your gifting program performed. With e-vouchers you will not be able to tell if employees actually used them in any way if the vouchers were utilized within the validity timeframe and in the place they were used. There is no information to enhance the gifting process.