While employees may say they prefer cash, research shows they actually work harder for tangible gifts. A 2003 study by the University of Chicago found that gifts boosted performance by 38.6%. This was compared with cash rewards which generated a mere 14.6% lift. Why? Because material corporate incentive gifts are more personal…and it keeps on giving.
In 1999, Wirthlin Worldwide asked 1,010 people how they
spent their bonuses: 29% paid bills, 18%
couldn’t remember, 11% said it went into savings. Monetary rewards are simply swallowed-up,
spent on depressing things like credit card bills.
Merchandise on the other hand, has ‘trophy value’ making gifts
more powerful. When a gift is received
it brings greater recognition and the effect lasts longer. This results in increased performance and engagement. A tangible item can be used for many years,
or kept on the recipient’s desk, as a lasting reminder that they’re valued and appreciated.
Corporate incentive gift programs
A good program rewards employees for specific reasons and
makes incentives available to everyone. According
to experts, it’s best to use little gifts more often, and mark achievements as
they happen. Here are some ideas for
implementing gift incentives in your organisation.
Rewarding employees when they achieve goals or meet targets
is one of the most effective methods of motivation. These can be sales or productivity related,
either short-term, or spread over a year. Encourage widespread participation with different categories e.g. awards
for most-improved performance. We offer
a range of computer, camera and phone accessories - all great ways to mark
Allow staff to accumulate points they can ‘cash in’ for a
small gift. Or, save them up and receive
a luxury item. Points can be awarded for
a myriad of performance related activities, recognising staff achievements, no
matter how small.
Corporate incentive gift programs which recognise
important milestones show that your company values every individual’s
time-served. Tokens of appreciation like
pens or watches can be given each year, encouraging staff loyalty. Getting progressively more exciting when 5,
10, 15 or 25 year marks are reached - with glassware, electronics, and fine leather
It’s important to recognise staff on birthdays and of
course, at Christmas. The best employer gifts are personal, showing
you appreciate each staff member’s unique contribution to your
organisation. For instance, we can offer
wholesale gifts personalised with the recipient’s name so every employee feels
Hold an annual event ceremony where you recognise achievements, with a trophy reward and certificate. Our luxurious trophies are available in glass and crystal from just £9.55 including engraving.
In a 2005 study by The Incentive Federation, 84% of people agreed that a merchandise corporate incentive gift is remembered longer than cash. The following items were voted as the most useful employee rewards:
and trophies 48%
ü Watches and clocks 40%
ü Apparel 37%
ü Food and drink 30%
ü Camera and accessories 24%
ü Computer and accessories 22%
ü Home entertainment 22%
ü Phone related 14%
Or, give them a choice
Why not offer employees a choice of different gifts and let them decide what they’d like? For instance let them choose between a luxury pen, designer luggage item, laptop bag, or watch. Not only do they get the fun of selecting their own reward…they end up with something you know they want.
Corporate incentive gift supply
For large, company-wide programs, it’s best to find a
specialist corporate gift supplier that you can work with to develop a bespoke
plan to suits your needs. There has to
be a certain degree of consistency, to avoid giving something to one employee
that may be perceived as more desirable, thus annoying the other. To do this you need a wholesaler. An experienced supplier will be able to
advise you on types of gifts, and offer branding and personalisation options.
If you’re thinking of developing a large-scale corporate incentive
gift scheme, there are tax implications. Gifts of £50 per person per year are fully deductible. But some items are not accepted including
food and drink. Get advice from a