Who says you need to wait for a special occasion to reward employees with a gift? Gifts are an excellent way to tell workers “thanks” for everything they’ve done. Some employers assume that a paycheck is enough, but going the extra mile by offering your employees gifts can yield some surprising benefits. If you’re still on the fence about professional “gift-giving,” check out some of the benefits it offers listed below.
This alone should be reason enough to invest in gifts for your employees. Numerous studies have shown that employers who surprise their employees with gifts experience higher productivity rates. It reinvigorates workers, encouraging them to put their best foot forward while on the job, which in turn boosts productivity in the workplace.
Employees crave appreciation and recognition from their peers – a rare commodity in the modern workplace. By giving employees gifts, you can show them that their all of their hard work and dedication is noticed.
Reduces Turnover Rates
No employer wants to go through the hassle of rehiring to fill voided positions. Not only is it time-consuming, but it’s costly as well. In fact, a study conducted by the Society for Human Resource Management (SHRM) suggests it costs businesses 6-9 months of a worker’s salary on average to replace that worker.
Creates a Safer Workplace
How can gift-giving promote a safer workplace? Depending on the industry, some business owners may choose to reward employees who practice safe working habits with gifts. The trucking industry, for instance, often rewards truck drivers for driving X amount of miles without an accident. Also known as the Million Mile Club, these programs are designed to promote better safety on the road.
Whether you work in the trucking industry or not, you can still use gifts to achieve a safer workplace. Perhaps you can reward workers with a trophy or award for following proper safety protocol and standards.
Another benefit of workplace gift-giving is its ability to boost employees’ morale. Performing the same monotonous tasks day after day can lower the overall morale in the workplace. But rewarding employees with an occasional gift will have the opposite effect by creating a positive environment.