Many companies have established routines for when to give gifts to employees, whether in connection with anniversaries, birthdays, weddings, Easter, summer or Christmas. Fixed amounts are often given at set times, and it should be the same for all employees.
But why is it really a good idea to give these gifts? What positive effects does it have, and what do you get in return as a company?
In this article, we look at what several studies say about the remarkable effects of giving gifts to employees and why your company should do it.
One of our strongest needs as humans is to feel close and connected to others. It's part of our survival instinct - primitive humans who ended up outside the pack had very poor odds of surviving and passing on their genes.
We take this biological need with us into the workplace. If you want happy and loyal employees, it's important to recognize them and make them feel part of the herd.
This is at the heart of why you should give gifts to your employees. Gifts add a nice touch of recognition. They highlight and reinforce the important message to each employee that they are valuable to the company and that their efforts are appreciated.
A number of studies have been conducted on the effect of gifts to employees. It is worth mentioning that some of the studies have been conducted by or in collaboration with companies that sell gift services, and that the number of independent research articles on the subject is limited. Despite this, the results are sufficiently clear that it is possible to draw several conclusions from the studies with a high degree of certainty.
Several studies show a direct correlation between how much employees are recognized and how happy they are at work. This has a huge impact on employee productivity and company performance. One study shows that happy employees are 12% more productive, while another shows that companies with happy employees perform 20% better than their competitors. In short, if you want your company to succeed, having happy employees should be a top priority.
A study by Swarovski Corporate found that 80% of employees believe that gifts from the company build loyalty and increase the likelihood of the employee staying with the company longer. High turnover has a number of negative consequences. It damages culture, engagement and productivity, as well as having a high direct cost.
Studies show that the total cost of a knowledge worker switching employers can be up to 2 times the employee's annual salary. As remote work becomes more common and workers become less loyal, it becomes more important to work to counteract the trend. Companies that are able to retain their employees longer will be significantly stronger in the future.
A study from Hubspot shows that 69% of employees say they would work harder if they were appreciated more. Praise makes employees more willing to bleed for the suit. Thus, gifts can pay for themselves as a result of the extra effort employees put in. Dale Carnegie said it well:
Peoplework for money, but go the extra mile for recognition, praise and rewards
So - are you in doubt about whether to give summer gifts to your employees? The benefits of gift giving will often outweigh the costs associated with labor and purchasing, and then some. Plus, you get a bunch of positive effects that are hard to measure directly on the bottom line, like sending your employees off on vacation with a smile on their face.
Remember, the greatest joy in life is to Glede others 😉
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