Great companies see the Christmas period as a time for planning, collaboration and opportunity. For others, it’s a time to wind down, slow productivity, and feast on mince pies & eggnog. The difference between the two is vast, in both morale, success and engagement, especially in how this period is being approached.
Company directors and managers are slowly starting to see that yearly, financial incentives and bonuses aren’t as effective as non-financial rewards, and a vast McKinsey study has shown to prove this. A simple cash reward is shown not to work when trying to get employees to think forwards, and take those opportunities over the festive months, as well as all year round.
Employees have upgraded their demands from just standard compensatory rewards for their work. The top people want the top benefits, opportunities to develop, and a network of support – not just the primitive benefit of a cash boost.
The festive time is the perfect opportunity to show as a business how you’re investing and appreciating your team; be it on a physical, emotional, or financial level to enhance the culture your business has proudly built. Businesses need to reconstruct their benefits and team engagement strategy to ensure a constant flow of direction, innovation and productivity to make the new year start as positively as they want – but how can you make this happen for your business?
Pillars of successful team engagement strategies:
Understand your people and objectives
Aligning organisational goals and initiatives with your team engagement strategy will increase the likelihood of the team to opt-in to the strategy, as well improving the ROI your business will see. Understanding team needs is crucial to the roll out of a properly beneficial engagement and perks package.
Health and Wellness
A Christmas cliché but nevertheless true – people love to go all out for Christmas, and try in the new year to become a ‘new me’. The best way to push an awareness and application of wellness is to start before Christmas (or as soon as possible!). Thsi means offering free fitness/wellness sessions that will lower the barrier to beginning that journey, as well as continuously engaging those that are looking for new experiences on their fitness journeys. This could include in-house or nearby sessions, as well as video and online content.
Discounts and Offers
Having the ability to stretch salaries and get exclusive company-wide discounts & offers will definitely go down well over the Christmas period. Offering automated and hyper-localised discounts will boost team engagement with the business and feel their money go that extra mile, both online and offline.
Feedback and Recognition
Communication is one of the biggest barriers to a growing business; the right software and tools should be used to enable communication from both management and directors, as well as peer-to-peer, and remote teams. This increases the amount of transparency within the business, and enhance the levels of communication and confidence within large groups.
This could mean parts of the team working away from the office certain days, or even flexible working hours and stretched lunch breaks to fit in fitness sessions; this is organisation dependent – you need to work out what’s best for your business.
An (Optional) Christmas Party
A Christmas party is a great way for staff to get together and foster a positive culture, as well as gain some great stories. Whether it’s a lunch or drinks, it’s a good excuse for the team to bond without any workplace stress.
What this does to transform organisations:
A great engagement strategy can transform the entire business, from the individual all the way up to the entire businesses culture and it’s performance. Most of our clients have found these following factors to be strongly linked to their team engagement:
- Top line revenue
- People retention rates
- Employee and customer satisfaction
- Improved ROI
- Lower absenteeism and presenteeism rates
- Further innovation and productivity of the team
- Improvement in employer brand
How do we get started?
Fostering culture and investing in your people can provide significant returns; a tailored programme and benefits package is a significant factor when trying to improve engagement strategies. An engagement strategy and package isn’t just for Christmas, it can be used to reach long term business goals, and foster an unbeatable team culture.