Ho, Ho, Ho! 7 Extra Employee Perks of the Holiday Season

The holidays are a traditional time for employers to express gratitude to their employees and to recognize their efforts in a variety of ways. These actions can increase employee satisfaction and help retain top performers. Here are seven techniques companies are using to make the holiday season merrier for their workers:

1. Holiday Bonuses. Unlike performance-based bonuses, holiday bonuses are typically given to all employees and each person receives the same amount of money. A poll conducted by Express Employment Professionals found that around one third (34%) of companies will give their workers a cash holiday bonus. Even modest bonuses convey a sense of recognition to employees.
   
2. Holiday Gifts. Although most employees prefer cash as a holiday gift, that may not necessarily translate into greater productivity. Research has found that tangible holiday gifts from employers are more effective. A study revealed that employers work harder when given a nicely wrapped gift than when they are given an equivalent amount of cash.
   
3. Raises. For companies with performance cycles that end in December, salary increases are welcomed by employees as an extra holiday perk. A survey by Towers Watson found that in 2016, pay raises for American workers are expected to remain steady at 3% for both exempt and nonexempt employees.
   
4. Office Holiday Parties. These annual celebrations have advantages and disadvantages that should be considered. To learn more, check out our blog post on the pros and cons of the office holiday party.
   
5. Holiday Lunches. Lunches are less involved than planning a full-blown office party. Yet, holiday lunches can generate meaningful benefits, such as breaking down barriers between workers and promoting collaboration. Holiday lunches in particular can cultivate a greater sense of camaraderie among staff.
   
6. Extra Time Off. Around one third (36%) of employers provide floating holidays. These are a great way for employees to extend the amount of time that they spend with family and friends over the holidays. Floating holidays increase the flexibility that workers have over their schedules.
   
7. Charitable Matching. The holidays are a popular time for giving to charitable causes. Workers appreciate when employers match contributions, since it increases their ability to support causes that they care about. Close to two thirds (65%) of Fortune 500 companies match employee donations.

(75)