Christmas time is a fantastic time of year!  Everyone is full of good cheer, looking forward to holidays and the new year.  It used to be the time of year for the ‘bonus’, but in this current economic climate, many companies have to cut back and the Christmas party or the end of year bonus is the first to suffer.

Why reward staff?

Yet it is still vitally important for employers to show their staff they value their contribution, or you risk losing unhappy staff (or even keeping unhappy staff!).  Many studies show that rewarding staff increases productivity, reduces sick leave and increases staff retention.

Who successfully uses this technique

Naomi Simson of RedBalloon has built a successful business and career on the foundation of valuing her employees.  Clive Palmer recently rewarded his staff with luxury cars.  Google has been cited as one of the leading companies in the know of attracting and retaining talented staff.

But rewarding staff is not just for the Fortune 500′s of the world.  Rewarding staff is one of the most effective strategies to improve a business, so it is definitely not the time of year to forget your staff!

You should see Christmas presents as an investment

Just as your business may invest in marketing and advertising, or presents to foster good will with clients, investing in your staff pays huge dividends.  You need to see your investment as a revenue creating strategy and perhaps like Google you could budget a percentage of the profits as a reflection of the profit per employee.

How to reward staff at Christmas time

Christmas presents are the easiest ways to reward your staff.  After all, Christmas is the time of giving, it is the end of the year, the time we start to wind down and the time we start to plan the new year with gusto!  The best news is that rewarding your staff doesn’t have to be expensive, it just has to be thoughtful! Gift vouchers are a great way to reward staff, as they can then purchase something that has value for them individually.  If your business is not financially flush enough to purchase decent value gift vouchers consider Experience Vouchers (eg: see RedBalloon, or perhaps seek out your local beauty salon for the ladies, or bottle shop for the guys).

Even better, play detective and ask staff to recommend gifts for their close colleagues!  Hand picked unique gifts show a level of caring that most people recognise (even if they are not keen on the gift – it is after all the thought that counts).

And in this current economic time, even if funds are very tight – a hand written note or an early mark or permission for a long lunch are all ways you can show your gratitude to your employees.

But they get paid to work…

Yes – as an employer myself, I am well aware of the fact that staff are paid to do their job; BUT consider this: you could be paying a paper pushing clock watcher or paying a loyal and dedicated employee who will go the extra mile for you – how much do you recognise your part in this scenario?  Can your business afford not to show how much you value your staff?

PS: please refrain from purchasing pooping reindeer!