Handing someone a $100 dollar check mid-December just does not cut it, folks. And in the end, it’s good for the company, too.
Annual, predetermined, lump-sum holiday bonuses are not an effective means of rewarding employees for a job well done. And employers have begun to realize that the annual gift of cash does little to improve employee satisfaction, recruiting, and retention, especially when the gift is expected.
According to a recent study by Bankrate.com, only 17% of those who are expecting a holiday bonus this year intend to enjoy the extra cash in the form of a gift. Instead, 76% intend to use their bonus to pay off bills, their debt load, or add it to their savings. What’s more, only a quarter of Americans are even expecting a pay raise or bonus this holiday season.
With the traditional lump-sum holiday bonus in decline, some organizations have found more creative and generous ways to show their appreciation during the holiday season. Here are five examples of how companies are raising the bar on holiday gift giving.
