Why The New Year Is So Important For Rewards
While it may be a cliché to say, new year can be a momentous time for businesses. It’s often a wholly uninterrupted break for employees and the opportunity for them to come back refreshed. And for the business leaders, it’s a chance to adopt an “out with the old, in with the new” philosophy.
This is one of the reasons why this is one of the busiest times of year for those of us in the employee rewards sector.
While some may attribute this simply to the fact that many contracts run on a 12-month annual basis and will likely expire in January, we believe there’s a lot more to it than just that.
Much like the influencers on Instagram posting the “new year, new me” quotes, business owners and leaders will also want to capitalise on the significance that the changing calendar can provide. There’s no better way to welcome people back from their festive break than with some positive news, and a new or refreshed rewards scheme to set them up for the year ahead can do just that.
As a motivational tool, it’s beneficial regardless of your team’s attitude to the new year period.
For many people, this is a time to prove themselves. They will want to come back and make an impression in the new year, filled with a renewed sense of purpose. What better way to welcome them back than with an unexpected reward.
While, on the other hand, it’s also one of the most popular times in the calendar for people to start looking for new jobs. Whether you are hiring, or people in your team might be starting to get itchy feet, it’s a welcome time to introduce rewards for staff retention and recruitment.
The break doesn’t always leave people relishing the return to work, and those who truly believe this is a time for self-reflection and betterment may start looking to pastures new.
That’s why, regardless of the feeling within your team, kicking the year off with a reward can be perfect.
It’s important to choose the right reward. Bear in mind what your people will be looking for after the festive break. They may have had their fill of chocolate and wine and are now looking for a new regime. Or the overindulgence of the period might have made them cautious of their carbon footprint and start to look for sustainable alternatives.
Be smart in your choice of provider and ensure you listen to what your employees want. One decision at the start of the year might be the difference between making 2022 a good year or your best yet.
