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Home Human Resource

Rewarding Staff With Bonuses, Incentive At Festive Period

by Olushola Bello
7 months ago
in Human Resource
Reading Time: 3 mins read
Bonuses
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Christmas, as the transitional period into the new year, can be a very busy time for many companies and customer service departments are likely to be stretched further than in other times of the year. This can cause motivation issues amongst staff, particularly as they begin to wind down for Christmas.
Keeping morale and motivation high in the festive period can be done by recognising the great work your team have done throughout the year. For employees, being recognised by their superiors is the number one thing that makes them feel engaged and motivated at work.
In today’s current business environment managers have found extreme importance in offering rewards to employees. This is largely due to rewarding employees effectively offering a corresponding increase in positive benefits to employee productivity and performance.
Holiday bonuses and incentive ideas refer to any initiative an organisation takes to reward or recognise employees for good work at year’s end. Examples include monetary rewards, professional development opportunities, and extra vacation time. These gestures allow businesses to recognise and appreciate their workers while boosting morale and output on the job.
Rewarding its outstanding staff, the group managing director of Dangote Cement, Mr Arvind Pathak said, “The dedication and loyalty of our long-serving employees, the achievements of our talented graduate trainees and our Hall of Fame awardees, have displayed passion, innovation and excellence in service delivery.”
He stated that the event is to recognise and honour the unwavering commitment the staff have demonstrated over the years, saying “your dedication has been the cornerstone of our success, and is the testimony of your hard work, resilience, and loyalty. Your journey with us is a testament to the values that bind us, and we look forward to many more of shared success.”
Pathak applauded the outstanding achievements of the current employees who received Hall of Fame awards as their hard work, innovation and commitment to excellence have not gone unnoticed as their colleagues have attested it by nominating them, saying that “you are part of our driving force behind our success and your dedication sets a standard for all of us to inspire.”
Pathak added that “as a learning organisation, we also continue to provide numerous development opportunities to enhance the capabilities of our people, including professional certifications and mentorship schemes. our success is a collective effort and each one of us plays a vital role in our journey to remain the leader in the cement industry and build a sustainable future for Africa.”

List Of Holiday Bonus
Companies need a reward system to attract new employees or encourage present staff to stay committed to their jobs. The following holiday incentive ideas for employees may be the most useful during the holiday season.
Monetary Rewards: Simple rewards may be among the most powerful motivators. Incentives in the form of cash are always attractive, especially over the holidays, when employees are more likely to be spending money. Offering financial incentives around the holidays may help retain staff.
Profit Sharing: Under a profit-sharing scheme, employees get contributions in cash or stock to their retirement account, and occasionally they get direct payments.
Coupons, Discounts, and Gift Cards: As part of the holiday incentive program ideas, you might provide gift cards or discounts to local businesses as another creative option.

Holiday Get-Together: Companies can show their staff some Christmas cheer by hosting a party.
Health and Wellness Incentives: Incentives for employees’ physical and emotional well-being are essential for firms concerned about avoiding burnout and maximising productivity.
Corporate Outings: Another holiday incentive is to organise a company picnic or other trip if funds permit. This outing may strengthen relationships within the group and promote higher-quality collaboration in the workplace.
Team Retreats: Team getaways allow coworkers to relax and bond in a less formal setting. Companies often utilise retreats as a kind of employee incentive to recognise teamwork and the achievements of their employees.
Donations to Nonprofit Organisations: The holiday season might inspire workers to be more generous than usual. As a result, businesses now have access to charitable giving, a novel, but powerful incentive. Companies might make charitable contributions in their names as an alternative to giving employees cash.
Overall, holiday incentive ideas have the potential to motivate workers to give their all at this yearly peak. Company needs, budget, and effectiveness of various incentive programs before deciding how to best reward your staff.

 

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