Research has revealed a simple step bosses in the manufacturing industry can take can prevent staff departures during the dreaded January rush for new jobs.
According to a survey of 1,096 UK employees carried out by bonus and incentives provider One4allRewards.co.uk, IT and telecoms bosses who give out bonuses in December are less likely to see staff being poached or looking elsewhere.
More than half (57%) of workers in this sector said having received a bonus or gift from their boss recently would prevent them from looking for a new job. And almost the same number (54%) would be less likely to accept a new job if offered one, if the same had happened.
With workers being more likely to look for a new job in January than any other month of the year, December bonuses couldn’t be timed better for staff retention purposes. What’s more, happily, the research revealed that workers welcome receiving a bonus from their employer more in December than at any other time of the year.
Alan Smith, UK Managing Director at One4all Rewards said, “it’s interesting to see just how far a token bonus can impact on the loyalty of those in the IT and Telecoms sector. Even if you just consider the amount of money that can be lost through recruitment costs when a member of staff resigns – never mind the softer negative impacts and knock-on effects that employees leaving can have, in terms of morale in the workplace – it is clearly something that is worth investing in.
“Multi-store gift cards like the One4all Gift Card can be purchased easily online or in your nearest Post Office. As they can be spent in a range of different stores, they are a great way for businesses to gift staff a little something to make sure they feel valued, ahead of the busiest time of the year for staff departures.”
For more information on how to use HMRC’s trivial benefits tax exemption to award bonuses to staff, visit https://www.one4allrewards.co.uk/taxfree