Tis' the season to close out the year on a high, and what better way than to show the people who work for you how much you appreciate them. Thanking your employees during the holiday season can come in many forms and range in cost. Even a small gesture of gratitude can go a long way.
Before deciding on how to thank your employees this holiday season, ask yourself the following questions:
- How many employees do I have?
- Where are my employees located?
- What is my budget for employee appreciation this year?
- Are there certain employees that have gone above and beyond the call of duty?
- Within my budget, what ways would be the widest appreciation?
Now that your employee pool is in scope, it's time to decide on how you want to thank your employees this holiday season.
Send Personalized Holiday Cards to Your Employee's Homes
By sending each of your employees a handwritten holiday card, you are showing them that you are not only thinking about them but their families too. This small gesture of gratitude can go a long way and allows you to customize each message, including inside jokes and messages of gratitude for their hard work.
Cost: Purchase/printing of cards and envelopes. Postage. Your Time.
Treat Your Employees to a Delicious Meal
The way to anyone's heart is through their stomach. By providing a delicious breakfast or lunch one workday during the holidays can alleviate your employees of putting together a meal that day, excite them with the prospect of new and delicious food, and make them feel appreciated with social time and a yummy meal.
Make sure if you do this, you consider all dietary lifestyles. Try to get a vegetarian dish because the lifestyle is always on the rise, and get something that will not cause controversy. Then enjoy your time eating and socializing with those who help your company run.
Cost: Food. Beverages. Disposable plates, utensils, napkins, and cups. (Potential/) Delivery.
Tell the World How Appreciative You Are of Your Employees
If you appreciate your employees, shout it from the rooftops! Social media is extremely impactful in today's society. Your employees will not only feel appreciated, but they can share your appreciation post on their platforms. By getting the word out that you appreciate your employees and socialize the idea, you are building a community around your business. Not to mention, this is a positive way to recruit new employees by showing them the appreciative environment they could work in.
Cost: Your Time.
Give Your Employees More Paid Time Off
This may sound expensive, but it's not! According to the United States Department of Labor, the average cost of all paid leave benefits to a private industry employer is $1.03 per hour per employee. If you consider that when putting together your employee holiday bonus and incentive packages, you may find this is an affordable solution. Then, when you cut out operating costs (building electric, services used those days, etc./) during what is typically known as a slower business season, this bonus will not only make your employees happy but you and your wallet happy, as well. Chances are, if you give your employees a couple of additional holidays off around the holidays, you will see happier and healthier employees.
Cost: Employee's daily salary during PTO. (Consider/) Reduced operating costs.
Give Your Employees a Bonus
Money talks. If you had a profitable year, show your employees how much you appreciate them by allocating a percentage of the profits toward holiday bonuses. You can make the performance- or impact-based, or split everything evenly. Either way, giving your employees a bonus from the company's profits shows that you want to share the business's success with them. An inclusive environment full of gratitude and appreciation is the foundation for a business to succeed long-term.
Cost: Percentage of profits given to your employees. Processing fees, if any apply.
Offer Your Employees a Fitness Challenge or Fitness Reimbursement Package
The holidays are full of cold weather and heavy food. You may have heard your employees discuss with each other how they're New Year resolves to implement a healthier lifestyle. Why not support your employee's personal goals? Add a little competition and personal-growth as an incentive for your employees through a fitness challenge or fitness reimbursement package for the upcoming year.
Remember, be clear and concise with the rules and regulations with your employees on how this program works. Create an easy process for employees to submit fitness club membership or fee receipts. Making this easy will make your employees feel even more appreciated because consideration went into their workflow and time.
Cost: Research and setup fees. Fitness Challenge: Contract fees with fitness challenge administrator or service. Fitness Club/Class Reimbursement: Monthly/Annual payout, up to an identified cost on fitness memberships and/or classes, if met.
Roll Out a New Employee Incentive Program for the New Year
New year, new incentives for your employees to continue to feel appreciated. Take some time to look at the incentive programs that you offer. Are there ones that you would consider adding? Are there programs your employees would be happy to see in the upcoming year? Think about investing in these benefits, if you don't already:
- Better health, dental, and vision insurance
- Better 401K or Roth IRA matching
- Longer maternity and paternity leave
- Work from home option
- More paid vacation/sick/personal days
- Employee stock program
- Tuition assistance or reimbursement
- Pre-tax transportation card
- FSA or HSA employee matching, up to an identified value
- Life insurance
Cost: Research and setup fees. Contract fees with incentive program administrator or service. Monthly/Annual incentive program fees.
Invest in Your Employees Work Environment
Have your employees complained about how uncomfortable their chairs are? Is the technology in your office out-dated? Could your employee break room in need of a makeover? Are the cubicles in the office in need of maintenance? Could your employees use new mobile devices or tablets to better perform their jobs? Give the gift of a more comfortable work environment.
By investing in their work environment, you are working toward your employee's happiness by showing them you listen to their requests and complaints, and want to make their lives better. Ask around for what a great investment would be. Consider having a survey with four options within your budget and asking your employees directly which enhancement is the best route to take this year.
Cost: Research. Work environment investment.
No matter the path you take with thanking your employees this holiday season, just know that any time you can show appreciation, you should. Yes, the holidays are filled with gratitude and reflection, but it's also important to thank your employees regularly. By doing so, you'll see an increase in your employee retention and satisfaction.
Looking to Expand Your Employee's Benefits?
If you think you're ready to invest more in your employees, you may need financing. First Union Lending is here to help.
We have nine different business loan types to choose from. This means that we're uniquely qualified to help you find the perfect loan to open your small business.
Applying for a business loan doesn't affect your credit. Better yet, your business loan may be approved as soon as the same day.
To discuss our business loans with one of our lending experts, click here or call 863-825-5626. We'll talk about our various business loans and help you find the right one to open your pain clinic.
Get started with the process now by learning more about our business loan types here.