In a 2012 HBR study, researchers studied the impact of gifts vis-a-vis financial rewards on the motivation levels of employees. They found that gifts far more motivated to them than unexpected cash bonuses, effectively paying for themselves by improving productivity. During the study, researchers gathered a group of students to catalog books at a German university economics library. The half-day task paid an advertised rate of 12 euros/hour. Before the work began, however, some students were told they’d get an unexpected seven-euro bonus. Another group received a gift-wrapped water bottle. And a third group didn’t receive any bonus.
The researchers found that the cash bonus didn’t change the speed or accuracy with which the students completed their work. In the group that received the free bottle, however, their data entry rate increased by 25 percent, which is a ‘productivity increase that more than offset the cost of the bottle itself’.
If you’re considering gifts for your employees, a gift-wrapped water bottle isn’t necessarily the key—instead, it’s the act of giving, which is typically perceived as more meaningful (and, inherently, more valuable), than cash. Additionally, giving gifts may make employees feel that they’re a more integral part of the company, which can result in increased productivity and loyalty.
Gift vouchers are akin to their monetary value if they are gifted in a relevant and transparent manner. When you know your employees' preferences, you would also know which voucher is relevant for them. Coupled with R&R Enterprise platform, our gift vouchers can delight your employees as you reward them for their hard work. Appreciation matters and when it is genuine, it matters the more. Fuel your employees' morale with our diverse gamut of gift vouchers.
Xoxoday offers its own XOXO Gift Vouchers that can be redeemed over our website by availing experiences and activities of your choice, including adventure, tours, getaways, fine dining, health, wellness, hobbies and activities. Redemption can also be done against gift boxes which are a carefully chosen assortment of these experiences. We also provide physical and e-gift vouchers of popular brands that can be redeemed against a variety of activities, products, services and merchandise offered by them.
"The manner of giving is worth more than the gift." Pierre Corneille