The holiday season is upon us, and while it’s a time of joy and celebration, it can also bring about financial stress for many employees. HR teams and employers have the power to make a meaningful difference in their employees’ lives by leveraging their benefits package strategically. In this blog post, we’ll explore how Virgin Incentives can be the key to reducing employee financial stress during the busy Christmas period.
Understanding the Financial Strain
The festive season, while always fun, often brings financial challenges. Employees face the pressure of gift-giving, Christmas parties, and travel expenses and the financial burden can often take a toll on employee wellbeing. Recent surveys indicate that millions are cutting back on essentials due to the cost of living, making it crucial for employers to step in and offer support. Recognising this, HR teams can play a pivotal role in creating a supportive and stress-free environment during the Christmas season.
The Power of Employee Discounts
Shout out about your employee discounts scheme! Make your team members aware and remind them of the savings and discounts available to them which can help ease any financial worry over Christmas. If you haven’t already, definitely consider implementing a financial employee discounts program, many people prefer consistent benefits over a one-off bonus.
Employees can reduce their financial stress by taking advantage of the large savings offered by most schemes on essential purchases and major brands. Employee discount programmes, depending on the supplier, can help stretch your employees’ pay even further and offer discounts on both essential and non-essential purchases, such as food, transport, outings, and attractions. By providing savings at hundreds of retailers, this approach becomes the gift that keeps on giving.
The Evolution of Experiential Gifts
While traditional Christmas gifts such as wine bottles and chocolate can be easily forgotten, a forward-thinking approach involves incorporating experiential benefits. Many people like to go out for meals, enjoy family days out or enjoy a getaway over Christmas. Virgin Incentives offers a unique opportunity to help your team save money by gifting these fabulous activities, providing your employees with the freedom to enjoy experiences that resonate with them.
A recent study showed that 80% of employers believe gifting has improved their relationship with their employees and co-workers. But rather than focusing on material gifts, consider the impact of gifting experiences. Virgin Incentives allows employees to indulge in memorable meals out, relaxing spa packages, thrilling getaways, and much more. The emphasis on experiences not only saves your colleagues money, but adds a personal touch to your benefits program, fostering a sense of appreciation and well-being.
Offering Choice
Modern benefits programs go beyond one-size-fits-all solutions. Virgin Incentives allows for personalization and choice, empowering your employees to select the gifts that matter most to them and to save money where it helps them the most. Our brand new multi-choice option, the Virgin Incentives Gift Card is the perfect employee benefit for your team to take advantage of this Christmas. Our new gift card can be redeemed at over 100 of the UK’s top brands. Whether it’s a new iPad from Currys, a festive item from John Lewis, or the Christmas food shop from M&S, your workforce can enjoy the holidays without breaking the bank.
As shown with the Virgin Incentives Gift Card, one standout feature of Virgin Incentives is the flexibility we offer through gift cards. These cards empower your employees to handpick their benefits and rewards, whether it’s a gourmet dinner, a groceries shop, or a fantastic holiday. This flexibility ensures that the gift is not only meaningful but also tailored to individual preferences and needs to help ease employee financial stress. From the Virgin Gift Card to experience vouchers, take a look at our range of gift cards & vouchers.
“When it comes to employee gifts, there is no one-size-fits-all. It just simply means not taking a cookie-cutter approach and purchasing lots of one gift type that might miss the mark. Choice is key.”
Danni Rush, COO at Virgin Incentives, Virgin Experience Days and Virgin Experience Gifts
Extending the Gift into the New Year
While Christmas is a peak period for financial stress, Virgin Incentives can contribute to your employees’ well-being throughout the year. As 65% of HR managers acknowledge heightened levels of financial stress, offering ongoing support through financial benefits sets your company apart from competitors. With only a fraction of employers currently addressing financial well-being, partnering with Virgin Incentives can make the difference. By providing benefits that impact both immediate spending during Christmas and long-term savings, your company stands out in the competitive landscape.
Employers can make a positive impact on their employees’ financial health this Christmas. Virgin Incentives can be your solution to alleviate employee financial stress, foster employee well-being, and create a workplace culture that truly cares. Unwrap the gift of employee happiness this Christmas with Virgin Incentives, get in touch with us below to see how we can help:
