Christmas gifting does not need to break the bank, there are many budget-friendly and cost-effective options.

Deloitte has reported that companies who invest in recognition programs have higher employee engagement, with 31% lower voluntary turnover, when compared to those who do not. As such, it’s surprising that a Virgin Incentives survey revealed 22% of employees have never received a reward from their employer, while another fifth has received what they felt was a bad reward, or one that they deemed as inappropriate.

It’s essential to find ways to keep your colleagues engaged, even if you do have a small budget. Happy people tend to stay in their jobs longer and retention rates improve if people have a positive view of their workplace.

So, knowing that rewarding and recognising employees will only have a positive effect on the organisation, how can employers select the best corporate gifts this year while keeping within their budgets?

The power and feeling of simple and regular recognition should not be underestimated. This can go a long way towards making your employees feel happier and valued. Celebrate their personal achievements such as getting married, moving house, or having a baby to offer a personal touch and demonstrate an investment in people’s lives.

Around Christmas, our clients commonly gift our Virgin Incentives Gift Card for thoughtful Christmas gifts. These multi-choice vouchers give colleagues choice of how and what they put the money towards. These can be used as part of a long-term rewards strategy and business can gift from £5 to £2,500, as this gift card suits a range of various budgets.

This option is also a great party incentive to give out to colleagues at Christmas parties, if Christmas bonuses or one-off gifts aren’t feasible. Starting at £5 or £10 you can give as much or as little as possible to contribute to a treat of your employees choice.

Speaking of Christmas, some businesses may opt to go all in on a work party. Last year’s Virgin Incentives Christmas research found that in the list of employee’s most loved elements of the party, free food and drink came up trumps, with over a third (35%) of employees stating it as the most essential part of a great festive celebration. This was followed by spending time with colleagues (22%) and a festive venue (20%).

If budgets are tight, business leaders shouldn’t feel pressure to pull out all the stops for Christmas gifting. As we know, rewarding and recognising employees is a key initiative to ensure that engagement, morale and productivity levels remain high, and Christmas is a great time to show gratitude for the team’s hard work throughout the year. This can be maintained by rewarding people with exciting gift cards for a new budget friendly experience, this will ensure you spend within your budget and all your people have something to look forward to and value.

Special thoughtfulness will go a long way in proving a business leaders’ investment in their team!