Should You Buy Gifts for Your Workers this Holiday Season?

Mr. Grinch won’t be showing up to the workplace this year, as more employers are trying to find new ways to fight for top talent in an ever changing and competitive workforce. According to CareerBuilder’s annual holiday survey, more than half of employers (55 percent) are buying gifts for employees this year, up 9 percent from 2016.

Employers are finding different ways to ensure employees enter the holiday season with added cheer, including:

• Parties: 71 percent of employers plan to throw a holiday party for employees this year – up 2 percent from 2016.
• Bonuses: 61 percent of employers plan to give employee holiday bonuses this year – up significantly from 54 percent in 2016 – and 26 percent say the bonus will be greater than last year (also up significantly from 15 percent in 2016).
• Charity: Over half of all employers (52 percent) plan to make charitable donations to others in need, up 4 percent from 2016.

What Does This Mean For You?

While the holiday season is an opportune time to show your appreciation for your team, think of ways you can boost morale throughout the year. Compensation bumps can only go so far, but if employees don’t feel as though their hard work is being recognized or that they are part of a company culture that cares about their professional growth, they’ll walk out the door when another opportunity comes along. Be sure to revisit your plan to retain top talent and find even small ways to reward employees that will make a big impact. 

Check out the best employee benefits to offer – that are within reach.