Do you want to put a buzz back in the workplace and boost staff morale?
According to recent research by Towers Watson companies with non cash rewards have a revenue that is 6.6% higher than those with cash only rewards. While satisfying at the time, monetary rewards are quickly used and forgotten about and so have no lasting motivational effect. A well though out gift or gift choice may have a place of pride on a shelf for generations. Read more in Adiona.
Let us help you achieve your HR staffing goals:
Incentive use leads to higher motivation and commitment, lower recruitment costs as staff turnover falls and to a more focused and productive workforce. Staff members that feel appreciated are the best kind of publicity.
Let us help you achieve your financial HR goals:
It makes financial sense for companies to give gifts over cash or vouchers. Small gifts up to the value of €500 per year are tax exempt. Gifts must take the form of tangible gifts to qualify for tax relief, i.e. a camera, watch etc. Tax relief is not available for cash, vouchers or bonus bonds which are taxable in full. What about all the 23% VAT you can claim on gifts that you can not on vouchers as well? In a recent job costing €30,000 the company saved over €5609 in VAT alone. Read about other savings you could make here.
Find out more about our range of services here or call us on 01 601 2601 to speak to a member of our team.