Most business owners give gifts to their employees, but many limit such activities to the holiday season. In our view, that’s a missed opportunity and there are a number of studies that back our opinion up! If you’re not giving gifts at regular intervals all through the year to show your employees how much you appreciate them and their efforts, you’re as good as leaving money on the table. Here are five reasons why:
#1 – Decreasing Turnover Rate
Hiring a new employee is expensive and time consuming. There are stacks of resumes to sort through, initial interviews, second interviews (and possibly more than that). Then there’s a training period in order to get the new hire up to speed.
Studies have confirmed though, that when employees feel appreciated, they’re significantly less likely to seek greener pastures, which is a win for you!
#2 – It Improves Your Relationship With Your Employees
This is actually for a couple of reasons. First, sure, if you’re in the habit of buying someone presents at periodic intervals, that’s bound to draw the two of you closer (and don’t be too surprised if you get the occasional gift in return, especially during the holidays and boss’ day!), but more than that, buying a meaningful gift for an employee requires that you actually know something about them and the moment you take the time to do that, you almost can’t help but improving your relationship.
#3 – Gift Giving Improves Morale and Productivity
This is related to, but separate from the first point. In addition to making employees less likely to look for other employment opportunities, it also improves both morale and productivity, giving the cost of periodic gifts a fantastic return on investment!
The bottom line here is that employee gift giving has tremendous positive impacts that extend far beyond the initial jolt of Dopamine you and the recipient get when giving. We’re talking about real, tangible, long-lasting impacts that studies have repeatedly shown do good things for your company’s bottom line.
If that sounds good to you, then spend a few minutes checking out some of our trending gift items and see if anything reminds you of one or more of your current employees.