Only 1 in 10 employees want their company to host a Christmas party this year, according to new research.
Once a staple of any office’s end-of-year calendar, the pandemic forced many firms to go virtual with their festivities, or abandon them entirely. And a new study from Blackhawk Network indicates that the traditional festive bash might never return to its former grander, with events of this year putting quite the dampener on employee desires for a Christmas party.
As the cost-of-living crisis continues and the UK heads into a recession, employees across industries are more financially conscious than they’ve possibly ever been before. Blackhawk Network’s research reveals that 97% of consumers across the EMEA region are concerned by cost-of-living pressures, with half (50%) citing fuel and utilities cost specifically. Couple this with the fact that employees will be starting to budget for the festive period, and its likely staff will be feeling the pinch more than usual. In fact, 75% of adults are not planning a “big celebration” for Christmas and 70% are cutting back on last year.
The recruitment journey: how to make TA your secret weapon
We all know that hiring top talent is a huge challenge that all businesses are facing. However, many organisations are still blindly feeling their way through the process and hoping for the best. Utilising tech could be the answer, but even then, systems are often convoluted and confusing.
This is where our guests come in. Hippo Digital is a young and dynamic SME, that embraced the basics of recruitment through automation to deliver some impressive achievements. Hippo Digital cut through the confusing mass of data which often stunts other firms, and managed to find the right metrics and reporting to facilitate truly strategic conversations, and future proof for growth.
Our second guest joins us from household name Wren Kitchens. In contrast, we'll discuss the firm's experiences as a larger corporate, and how they have developed their approach to make in-house resourcing a secret weapon.
In this session, you'll learn:
About Hippo Digital's quest to find the data that really matters, and how the firm utilised this for better reporting & growth
How other SMEs can follow their path and find the data they truly need to succeed in recruitment & retention
Insights into how a nationally renowned firm like Wren Kitchens mastered in-house resourcing
Boosting staff morale and engagement
At a time when employee stress levels are high, it is crucial to ensure they feel supported, acknowledged and valued. However, with the cost-of-living crises also taking its toll on businesses, offering simple fixes such as pay rises are not always a viable option. But that doesn’t mean there’s nothing they can do to help. Employers can support staff, boost morale and make sure they feel recognised through the reward and incentives strategies they offer in a cost effective way. Ensuring that these rewards are also geared up for helping employees to manage their own finances and make their pay go further will be key.
Giving the gift of choice
This year employees want their rewards to be meaningful. 60% of employees said that their companies were bad gift givers, which is a worrying statistic when emerging talent is three times as likely to consider leaving a company if they don't receive holiday gifts during the festive season. What's more, hosting a Christmas party to show appreciation to staff isn’t going to cut the mustard this year as only 10% of employees want one. The reality is employees want to receive gifts that will give them the freedom to choose what they want. In fact, 63% would want a gift card, Visa or Mastercard.
Rewarding staff in ways that aligns with their needs, particularly during times of financial stress, helps to boost their happiness and motivates them to feel engaged – something that is especially important in an age where the war for talent is at an all-time high. As stated by 81% of employees, rewards encourage them to work harder. In addition, according to 86% of employees, rewards such as gift cards make them feel valued. Reward right this Christmas and employers will leave staff feeling positive, motivated and supported as they head into the festive period and beyond.
