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NEW YEAR, NEW INCENTIVES

Written by Ellie Senior.

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As the guilt kicks in following the excesses of Christmas, January is often a time for people to reflect on their lifestyle.

It might inspire a new gym membership, more charity work or striving for a promotion, or perhaps it could be the catalyst for someone to begin the search for a new career entirely. As a result, combatting the January blues in the office is something employers must take seriously, or run the risk of a drop in morale and retention alike.

This time of year is renowned for resignations and a survey undertaken earlier this year by Glassdoor revealed that one in five people cite January as the most popular month to make a move. It’s for this reason that investing in the wrong kind of staff incentive programme could see businesses fuelling the post-Christmas lull and effectively waving goodbye to their talent.

However, if businesses are savvy with their motivation techniques and use the right type of incentive, at the right times throughout the year, they can make the difference between employees remaining loyal or jumping into the arms of a competitor.

Variety is key

When it comes to employee benefits, business owners often default to cash-based motivators, but there are other options that should be considered.

Things like birthdays off or an early finish on the last Friday of the month are smaller perks that will be better received and more appreciated than you’d think.

Also, giving staff the budget to undertake industry training will not only give them another string to their bow, but also boost the capability of your team – a great result all round!
Don’t just flash the cash

There will always be certain job roles for which money is a real motivator, but for others, non-monetary gifts are considered a more thoughtful gesture.

What’s more, in January, the cash bonus tends not to have the desired effect of treating an individual, as most people end up spending the money on paying off an expensive Christmas!

Give the gift of choice

Gift vouchers and cards are becoming more commonplace and popular with both employers and employees. They make it easy for the employer to offer staff a gift that can be personalised to their taste and give employees more control to choose something that suits them.

The Inspire Travel Card is the perfect product to incentivise your workforce and keep them happy in the knowledge that all their hard work will lead to a gift they’ll truly appreciate.

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