Good money to be spent on employee holiday gifts, survey finds
Maybe there is something you can look forward to when going to work ... at least one day out of the year.
Companies planning to give their workers a holiday gift this year will spend an average of $79 per employee, according to a report released by the Advertising Specialty Institute. Nearly a quarter plan to spend more than $100 to thank each employee.
When considering gifts for both workers and customers, 75 percent of companies said they are planning to spend the same amount as last year. Apparel and gift cards are the two most popular gift choices this holiday season, the report finds.
While you may be the one receiving the gift, the transaction can benefit your employer as well.
"The company can actually get a boost from just that small token of appreciation," said Oscar Holmes IV, assistant professor of management at Rutgers School of Business-Camden. "People can point to a specific example where they can say they've felt valued and they've felt appreciated by their organization."
There are many companies, Holmes added, that imprint their logo on gifts given. The holiday giveaways can essentially act as another form of advertising.
If you don't happen to receive a tangible gift in hand, a holiday party still requires a rather significant investment from your employer, Holmes noted. The tab per employee could include the venue, food, drinks and the same for your guest if you choose to bring one.
"It's also an opportunity to form connections," he said.
An earlier study from ASI released in October found fewer companies are planning on gift-giving this year compared to last — down from 44 percent to 40 percent.
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Contact reporter Dino Flammia at email@example.com.