Is your business ready for Brexit? The UK left the European Union on 31 January 2020 and entered a transition period which is due to end on 31 December 2020.
A recent study of 1,400 employees conducted in the UK, USA and Australia showed that staff prefer to have rewards that are offered consistently throughout the year in preference to receiving a Christmas bonus or having a Christmas party.
Interestingly, the survey undertaken by Reward Gateway shows that 65% of respondents also noted that their employers could have more understanding of what they would find beneficial during the holiday period. Around 76% of HR members and business leaders confessed that they recognised this and that they could be assisting staff in more helpful ways over Christmas.
The study goes on to note that there are solid differences in opinion depending on the age bracket of employees and their life-stage. For instance, it shows that 58% of recent graduates would sacrifice a Christmas bonus if they were offered the option of more frequent rewards throughout the year, whilst it was shown that more than 4 in 10 (46%) employees preferred savings on everyday purchases instead of a standard holiday party.
As the festive season rapidly approaches, is it time to talk to your employees to find out their thoughts?
The study offers excellent food for thought, so if you are considering updating your HR policies and thinking about how you can support your staff better in the New Year, these findings might be something you want to consider alongside professional support. At AccountAbility-Plus, we offer a strategic approach to help you effectively manage your people in a way which works for them and your business.
Maximising performance and increasing productivity is our goal – if it is yours too, get in touch, and we can help you revise and update your HR structure. Click the link to view our services.