If your Employee Appreciation Day gifts aren’t already in the works, there’s no time to lose. The March 1 occasion is coming up fast, and our recent research proves that you can’t miss this opportunity.
According to our survey, 90% of employees have concerns about their employment, and more than two-thirds of employees (68%) are currently seeking new jobs. The top concerns are no surprise, namely salary, benefits, and flexible working options.
But if you’re competitive in those areas, what can you do to differentiate yourself and increase retention? A rewards and recognition program may be the answer, since only 45% report working for a company that has one. And Employee Appreciation Day gifts are the perfect place to start.
Every leadership team knows the traditional Employee Appreciation Day ideas for gifts: a free meal, company-branded merchandise like clothes or office supplies, an incentive trip, an office party. But our research shows that these are definitely not what most employees prefer. Only 28% of survey respondents say they want a free lunch, all the way down to 11% who want an office party.
Even salary bonuses (49%) and extra vacation days (40%) come in second and third, respectively. Cash bonuses often lose their impact because they aren’t received until the next pay cycle and, depending on the amount, may barely be noticeable after taxes are taken out. Plus, when an Employee Appreciation Day gift comes on the regular paycheck, it typically ends up as just part of the normal income, spent on essentials or put into savings, instead of a special treat.
READ MORE: 7 Employee Appreciation Day Ideas That Add a Special Touch
Well, according to the employees who answered our survey, the overwhelming answer is gift cards and prepaid cards, preferred by 82%. Even within that category, the best Employee Appreciation Day ideas offer flexibility for the recipients, as 55% want prepaid cards like Mastercard or Visa, which can be redeemed to buy just about anything.
When looking at what employees like to spend their rewards on, it’s obvious why they prefer flexibility — everyone is different. Here’s the breakdown:
Flexible prepaid rewards are also a great choice from the employer’s perspective, since they can be delivered instantly via email in varying amounts across your organization. They can even be redeemed in more than 150 countries around the world, so you don’t need to find separate options for your international teams.
Giving appropriate and popular Employee Appreciation Day gifts is just the start of what you need to do to create happy, loyal teams. It’s clear in our research that employees want rewards and recognition to be a regular part of the workplace culture. In fact, they prefer to get smaller rewards more often, with 63% seeking recognition at least monthly.
By using digital gift cards and prepaid cards, you can build a program that allows for many rewarding opportunities year-round and make the dominations fit your budget.
Ready to put our Employee Appreciation Day ideas into practice? Request a demo or create an account to see how BHN Rewards makes it easy!
Hannah is a reformed journalist who has more than 15 years of experience and now focuses on content marketing for innovative tech companies.
Hannah is a reformed journalist who has more than 15 years of experience and now focuses on content marketing for innovative tech companies.
