The holidays are coming. Will paychecks grow fat?
Sadly, many employers don’t have cash to spare. But even if they drop just a token into workers’ hats, employers could make a powerful impression on their workers, according to a recent survey by incentive consulting firm Parago.
Sixty-nine percent of workers do not expect to receive a year-end reward or holiday gift, according to Theresa Wabler, Parago director of marketing.
But the Parago survey of about 600 both full and part-time workers finds that 61 percent say that a $25 gift card or prepaid debit card would make them feel valued and appreciated. And 85 percent of employees said a reward of $100 or less would signal that they’re appreciated.
Wabler says she doesn’t know what percentage of businesses will hand out small bonuses. “But we do know that it is not just a few firms in a few industries. Across the board, many different types of businesses will give rewards.”
Executive bonuses are another matter, Wabler acknowledges. Top brass not only get more sizable awards, but the bonus comes in the form of a check.
Pre-paid cards or gift cards are the vehicle Parago advises for smaller rewards. “If the value of the bonus is just folded into a paycheck, people don’t think of it as special. They see it going for groceries, the utility bill, all the regular expenses. But a card is viewed as a surprise, and as something that they’ll use to purchase something special.”
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