LONDON, September 30, 2014 /PRNewswire/ --
A failure by employers to effectively plan and deliver end of year recognition means up to one third of Christmas reward is wasted, according to new research from Edenred.
The survey contained in a new report "Getting a Return from Christmas Reward in 2014" looked at UK employees' experience and expectations around Christmas reward. It found that:
- A total of 34% of employees have lost, discarded or simply not received Christmas reward given to them by their employer;
- Barley a third of employees (37%) said they received a personal thanks from their employers when Christmas reward was given;
- One in three employees (30%) have never had Christmas reward;
- 9% of employees couldn't remember whether their employer gave them Christmas reward in 2013.
The research also found substantial differences in employee attitudes to Christmas reward depending on their age.
Among 18-25 year-olds, 56% said they expected something from their employer compared to just 34% of employees aged fifty five and over.
Across the age groups just 7% said the idea of Christmas reward was outdated.
Colin Hodgson, Sales Director for at Edenred UK, said:
"The major finding from our research is the 'Christmas reward gap' between the things we know that employers should do and what they are actually doing.
"The first of these is the widespread absence of personal recognition when reward is given to employees: saying thank you in person isn't just a vital element in the effectiveness of Christmas reward but any recognition programme.
"The second area where employers are falling short is by failing to give reward which will have a positive and memorable impact for employees. With a third of reward being discarded by employees it is clear employers need to think how they can incorporate personalisation and choice in what they give.
"If there is one clear message from our research it is that every employer could make a substantial improvement to the effectiveness of their investment in end of year reward by looking again right now at how they plan and deliver their activity."
For more information about the research and insight about end of year reward you
can download a copy of the report from: http://www.edenred.co.uk/ehub/ehub-blogs/andy-philpott/christmasfail---four-mistakes-to-avoid-for-your-end-of-year-reward
Notes to Editors:
- Results are based on research conducted by an independent polling company in July 2014 among a representative sample of over 1,000 UK employees.
Edenred, is the world leader in prepaid corporate services, designing and delivering solutions that make employees' lives easier and improving the efficiency of organisations. By ensuring that allocated funds are used specifically as intended, these solutions enable companies to more effectively manage their:
Employee Benefits: Luncheon Vouchers®, Childcare Vouchers®, Cycle2Work, Flexible Benefits, Employee Savings, Total Reward Statements, MyWorkOffers®
Expense Management: Premium Card, Eyecare Vouchers®, Clean Way® Vouchers
Incentives, Rewards & Motivation: Compliments Select, Compliments® Card, Compliments® Experiences, Incentive Award Card, Compliments® Voucher, Single Store Vouchers, Travel Clubs, Webcentiv®
Communications Services: A comprehensive range of solutions to help organisations engage and motivate their staff
The Group also supports public institutions in managing their social programs.
Listed on the NYSE Euronext Paris stock exchange, Edenred operates in 42 countries, with some 6,000 employees, nearly 580,000 companies and public sector clients , 1.3 million affiliated merchants and 36.2 million beneficiaries. In 2012, total issue volume amounted to €16.7 billion, of which over 50% was generated in emerging markets.
All tradenames of Edenred products and services are registered trademarks of Edenred SA.