With the memory of last month’s office Christmas Party fading, you might be thinking about what you might do at the end of this year. Well, if you have found organising the Xmas bash a thankless task, this might be why. Maybe you are not giving your employees what they truly value.
Reward Gateway conducted a survey of 1400 employees and senior decision-makers in the UK, USA and Australia. The survey found that most staff would prefer to get rewards that were offered throughout the year, rather than a Christmas party or Christmas bonus.
58% of recent graduates opted for more frequent rewards rather than a Christmas bonus and overall, over half of staff said they would forego the Christmas party if they could have access to ongoing rewards, recognition and savings. Maybe what you’ve done traditionally needs a re-think.
But whatever you decide to do, you have to process any rewards and bonuses appropriately through your payroll taking into account the tax and NI treatment of various benefits and expenses. We can take that hassle away from you, if you outsource your payroll to us. And, we can give you advice on what rewards programme to put in place from a tax and NI point of view. Contact our payroll experts at our Birmingham head office.