Many companies have established routines for when they should give gifts to employees, whether it is 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 startling 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 - early 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 to the utmost extent in the workplace. If you want satisfied and loyal employees, it is important to recognize them and make sure they feel like part of the pack.
This is the core of why you should give gifts to your employees. Gifts add an extra touch of pleasant recognition. They highlight and reinforce the important message to each employee that they are valuable to the company and that the efforts they make are appreciated.
A number of studies have been conducted on the effects of employee gifts. It is worth noting 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 topic is limited. Despite this, the results are so clear that several conclusions can be drawn from the studies with great 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 results. 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 company gifts build loyalty and increase the likelihood that the employee will stay with the company longer. High turnover has a number of negative consequences. It damages culture, engagement and productivity, in addition to having a high direct cost.
Studies show that the total cost of a knowledge worker switching employees can be up to 2 times the employee's annual salary . As remote work becomes more common and employees become less loyal, it becomes more important to work to counteract the trend. Companies that manage to retain their employees longer will stand significantly stronger in the future.
A study from Hubspot shows that 69% of employees say they would work harder if they were more appreciated. Praise makes employees more willing to bleed for their team. Thus, gifts can pay for themselves as a result of the extra effort employees put in. Dale Carnegie said it well:
People work 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 giving gifts will often make up for the costs associated with labor and purchasing, and well and good. In addition, you get a bunch of positive effects that are difficult 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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