Why gifts make great employee rewards

There are times when you want to recognise a colleague for a job well done. For example, when a colleague is going above and beyond with a client, when they have a great idea or when they reach a significant milestone. Their behaviour shows a focus and a drive that is praiseworthy, and which brings company values into focus.

How do you reward such positive behaviour and recognise employees in a meaningful way that motivates them for a long time? Here are ten solid reasons why real gifts make great employee rewards:

 Memorable & tangible

A real gift is something tangible, something that employees receive into their hands and use regularly. Employees remember the reason it was given and who gave it to them. It’s not like giving a voucher, which can be spent on the week’s shop. Gifts are a specific and memorable reward that benefit the recipients in a more strategic way.

 No monetary association

Removing the monetary value associated with rewards is fundamental to quality recognition. If there is a monetary value associated with the reward then the focus shifts too easily from the reason for giving the reward to its monetary value. This can lead to a feeling of entitlement around rewards. There is no monetary value associated with gifts, which makes them ideal rewards.

 Avoid unredeemed rewards

It is a known problem that some gift vouchers are never redeemed, but what about the vouchers that are not redeemed in full? Unused balances on gift cards is money wasted by companies and their employees. With gifts, employees receive the full value of your reward and they can choose from an extensive choice of gifts on your company branded reward programme.

 Gifts are tax-efficient rewards

Maximise tax-efficiency with employee gifts: Gifts are tax-free under Revenue’s €500 Small Benefit Exemption Scheme. Additionally, Revenue offers generous tax relief on Long Service Awards, only when the awards take the form of tangible gifts. The LSA allowance is €50 for each year of service, starting at 20 years, and every 5 years thereafter. The table below shows the significant savings.

 Premium brands as employee rewards

Key to the success of premium brands is their hard-won reputation for quality, innovation and style. This means when you give a premium brand gift, you don’t just give an employee reward. You say something important about those who are being recognised. You say ‘Your hard work, service and loyalty deserve to be recognised with a superior gift’.

 Better discounts on gifts

Companies can avail of great value on premium gifts: from Samsonite Luggage to Paul Costelloe Jewellery; and Stellar Homeware to Nicholas Mosse Pottery. Employees are offered value, choice and flexibility. Additionally, companies can avail of substantial discounts when items are purchased in bulk. Conversely, gift vouchers offer limited discounts on bulk orders. 

 Dispersed workforce

With an increasingly remote workforce, companies are challenged to keep employees happy, engaged and connected. Giving gifts can be part of an engagement strategy, for example, welcoming employees to your company by sending new recruits an onboarding kit or welcome the arrival of a new baby with a gift sent directly to the employee’s home. 

 Gifts are Impactful

Gifts are impactful, especially when used to celebrate professional and personal achievements in a colleague’s life. For example, when a colleague wins a well-deserved promotion, acknowledge their achievement with an embossed leather notebook or a personalised Cross Pen. Special moments like the wedding of an employee gives your company the opportunity to join in the celebrations.

 Branded gifts support your employee initiatives

Promotional products or branded gifts are a great way to promote your company initiatives. Promoting reusable water bottles & cups can support environmental initiatives. Equally, rewarding employees with company branded fitness gifts can support company wellness initiatives and help employees to stay focused on their personal health and fitness goals.

 Gifts are symbolic

Whether you give a gift or an engraved award, they represent the esteem in which an individual is held within an organisation. As symbols, they speak not only to the recipient but to everyone who witnesses their presentation, or sees the gifts at home or on their desk. The symbolism inherent in a real gift means they just keep on giving long after their presentation.

 At Gift Innovations, we make gift giving effortless: Reward & Recognition