Industry Snapshot: Human Resources
Friday, December 20, 2013 7:00 AM
At work, it can mean holiday parties, end-of-year bonuses and sometimes balancing productivity and time off.
We searched the Web to give your company some statistics, tips and tricks on making this holiday season enjoyable and productive.
What should you give for a holiday bonus? An article on the National Federation of Independent Business (NFIB) website attempts to answer just that.
Experts agree that performance-based bonuses are the best way to motivate employees and reward hard workers. One way to do that could be to set metrics at the beginning of the year – if an employee reaches 80 percent of his or her goals, that employee gets 80 percent of the average number your company has allotted to bonuses.
If your company can’t afford to give a bonus, there are other things you can do to reward employees, according to another NFIB article. Options include throwing a holiday party, giving less-expensive gift cards or working with your best clients on some kind of in-kind gift donation for your employees.
Helping your clients
If you are in the business of serving clients, it can be hard to know what is an appropriate holiday gift. A recent Inc. article written by Ilya Pozin, founder of social greeting card company Open Me, lays out some tricks.
Instead of sending a bottle of whiskey, Pozin writes, consider donating to a charity in your client’s name. Or send a creative greeting card or spotlight your client on social media.
By the Numbers: Corporate holiday parties
91% of U.S. companies had a holiday party in 2012, the highest percentage of the past six years.
71% of event professionals say a holiday party leads to a better office culture.
18% of event professionals say a holiday party leads to increased productivity.
20% of companies spend $50 to $100 per person on holiday parties.
9% of companies spend more than $100 per person.
Sources: Battalia Winston, BizBash, Seamless
According to a survey by the Society for Human Resource Management, 95 percent of businesses close the office on Christmas Day, 67 percent close or let out early on Christmas Eve, and 22 percent are closed the day after Christmas. A total of 94 percent of businesses are closed on New Year’s Day.
How can your business effectively handle all this time off? An article on jobs and career website Glassdoor.com lays out some tips.
• Plan in advance.
• Stagger holiday time off for employees.
• Offer extra pay during the holidays.
• Let employees work from home.