Your video production leader, BizVid Communications, wraps up another year in serving companies and businesspeople like you. It is time to draw attention to what may be an often-underappreciated facet of your 2023 success. Acting on this will help launch you into very productive New Year. Here are some BizVid thoughts regarding “rewarding gifted employees” as this calendar concludes.
Holiday parties, banquets or special events are often the highlights of each passing year. You undoubtedly have a select few individuals that led the way in innovative ideas or discerning insights or encouraging words that made significant differences in your bottom line or improved organization-wide, or department-wide, or management-wide, or client/customer-wide attitudes.
By finding a special, private moment to let each of these “gifted employees” know of their much appreciated and unique efforts will empower those continued efforts into the future.An ongoing element in our periodic blogs, includes discovering what some well-read publications and/or writers have to say on our topic of the month.
What others are saying about Rewarding Gifted Employees.
Newest Gallup Report Insights / Employee Rewards Platform. From the “Work human*,” March 28, 2023, web page, this article draws attention to the “gifted employees” of which we speak: From Praise to Profits: The Business Case for Recognition at Work: With so much change and uncertainty affecting workplaces globally, it can be easy to forget that employees are at the center of any organization’s success. And what those employees feel – about the companies they work for, their leaders, their teams, and themselves – ultimately provides the fuel for high performance.
Gallup and Workhuman research find that strategic employee recognition – that is, recognition that is fulfilling, authentic, equitable, embedded in company culture, and personalized to the individual – is critical for cultivating an environment where both employees and the business thrive. Recognition is a simple way for organizations to demonstrate their investment in and commitment to their employees. But it makes good business sense, too.
By making recognition an important part of company culture, a 10,000-person organization with an already engaged workforce can save up to $16.1 million annually due to reduced employee turnover. But that begs the question: If recognition has such an impact on reduced turnover, are there other cost savings it can yield throughout the organization? A new report from Gallup and Workhuman describes correlations between employee recognition and business outcomes across hundreds of organizations and thousands of teams in different industries.
Giving Gifts to Employees: Best Practices – Indeed.
From a recent story in Indeed.com, under their “gift-to-employee” section, the article explains, as follows: From tangible items to events to cash, here are some of the most common types of presents employers give to their employees: 1. Flowers 2. Plaques 3. Food 4. Tickets to events 5. Meals or other organized social gatherings 6. Books 7. Cash bonus 8. Gift cards 9. Small trinkets Related: such as Years of Service Awards.
Many companies give gifts to their employees around the holidays and for special occasions like work anniversaries or exceptional achievements to show appreciation. You can reap many benefits through gift-giving whether you do so on a personal level or a professional one. Often, giving presents to your employees is a mutually beneficial scenario. Some of the benefits include increases in the following:
- Motivation: Giving can motivate your employees to work harder for the company.
- Productivity: Some employees can become more productive after receiving a gift.
- Morale: Many employees, and perhaps the company overall, get a boost in morale from getting a present.
- Value: Gifts show you’re thinking of your employees, which causes them to feel valued.
- Generosity: You as a manager get the benefit of feeling generous.
From the Awardco website under the title of” Best Gifts for Employees,”
their November 15, 2023, article recommended that you: Reward them for their hard work with a gift that conveys your appreciation. The writings continued by stating that there is a valid psychology of gift giving that really matters to the employee and should matter to the employer, as well.
The act of both giving and receiving a gift can have psychological benefits to both the giver and the recipient. For the giver, the act of spending money on someone else promotes feelings of happiness and pleasure. It also releases oxytocin, a chemical that signals trust, safety, and connections.
The whole experience of thinking of what gift to buy, buying the gift, wrapping it, and giving it to someone is full of oxytocin (as long as you don’t overly stress during the process).
For the recipient, if you’re given a gift that you love, it yields a very similar chemical response—that is, a response of greater happiness, trust, and feeling of connection. But the key here is that the gift has to be meaningful to the recipient, or it may backfire.
When leaders put effort into giving meaningful gifts to their employees, both parties are happier, increase mutual trust, and build connections.
BizVid’s Blog Summary
We close this blog as we close this calendar season. BizVid Communications hopes that these monthly messages and quick responses to your production needs identifies us one of the “gifted” participants in your ongoing effectiveness. As such, we join with your “gifted employees” to assure that your best future is on top on our holiday list.