January is renowned for being a tough month, and this year it will certainly be difficult for many people as we continue to deal with the challenges of the pandemic. As a result, now is a valuable time for businesses to deliver rewards to their employees. A token of gratitude, no matter how big or small, will certainly give your team a well-needed boost and motivate them for the weeks and months ahead.
January rewards have become a popular alternative to Christmas rewards, with many businesses choosing to delay the delivery of their rewards until the new year. But why?
Boost motivation and morale
There’s a reason why so many people talk of having the ‘January blues’ and the third Monday of January is even referred to as ‘Blue Monday’. Every year, there’s a natural dip in morale following the Christmas period. With employees returning to work and getting back into the swing of things, this month often feels like an uphill struggle.
By delivering a reward in January, you are, quite simply, adding some positivity to your employees’ lives and giving them something to enjoy at a time that often feels rather bleak. A small token of gratitude can make a huge difference to someone’s mindset, morale and wellbeing as they embark on a new year. This January, we have the added challenge of a global pandemic imposing yet more restrictions on our lives, so now arguably more than ever, your employees would certainly benefit from reward to boost their motivation and morale.
In fact, research has even found that over a fifth of employees would prefer a January reward. Individuals said that delivering rewards in January was a good way to lift spirits after they return to work. Over a quarter of people said that they believe it “would improve their mental health” too.
The start of new year encourages many people to look for a fresh start which means it’s a popular time for job searching. Research conducted by Point A Hotels found that, as a result of Covid-19, 25% of people are thinking about a career change, with the same number planning on acting on this and looking for a new job in the new year.
With that in mind, businesses need to work hard to keep their teams motivated and engaged. Rewards are therefore useful because they serve as a reminder to your employees that your business values and appreciates them. Saying “thank you” at critical times like this can make a difference as to whether your employees decide to look elsewhere or not. A survey by Achievers found that 55% of respondents were planning to switch jobs, and that lack of recognition was the main reason for this. 69% even said that better rewards and recognition would encourage them to stay with their employer.
There are many fantastic reward options out there, what’s important is that you choose something that’ll be meaningful and relevant to your employees. Whether that’s chocolates, flowers, an experience day, or a choice of digital vouchers, a token of thanks will go a long way at this time.