Vast majority of Irish workers say receiving a Christmas gift card increases their loyalty
View original article at Business Plus
The vast majority of Irish employees, 84%, say receiving a Christmas gift card from their employer would increase their loyalty and reduce their likelihood of changing jobs.
A new survey of 600 workers both here and in the UK underlined the hugely positive impact receiving a gift card has on staff.
Nearly all, 90%, of Irish employees experience a positive impact on their job satisfaction when they receive an end-of-year tax-free benefit like a Christmas gift card, the survey found.
The authors of the survey, digital payments company CleverCards, claimed the results showed "a shift in Irish employee attitudes, where Christmas gift cards, once seen as a simple gesture, now hold the potential to drive loyalty, satisfaction and a positive workplace culture."
The flexibility to spend gift cards anywhere is a key factor for 92% of Irish workers.
The vast majority of Irish employees, 84%, say receiving a Christmas gift card from their employer would increase their loyalty and reduce their likelihood of changing jobs.
A new survey of 600 workers both here and in the UK underlined the hugely positive impact receiving a gift card has on staff.
Nearly all, 90%, of Irish employees experience a positive impact on their job satisfaction when they receive an end-of-year tax-free benefit like a Christmas gift card, the survey found.
The authors of the survey, digital payments company CleverCards, claimed the results showed "a shift in Irish employee attitudes, where Christmas gift cards, once seen as a simple gesture, now hold the potential to drive loyalty, satisfaction and a positive workplace culture."
The flexibility to spend gift cards anywhere is a key factor for 92% of Irish workers.
Under the Small Benefit Exemption scheme where employers can give up-to €1,000 to each employee tax free, with no PAYE, PRSI or USC payable by the employee or the employer.
The survey found among those workers who received a gift card from their employer last year, 67% expect to receive one again this Christmas.
The vast majority, 88%, of employees aged 45-54 have a strong preference for spending their gift cards on retail shopping, while only 26% of workers who use them for necessities like paying bills.
Most female employees, 84%, show a stronger preference for Christmas gift cards, with 77% saying they prefer to spend their gift card on retail shopping.
Male workers, on the other hand, show a higher expectation of receiving a gift card this Christmas, with 49% anticipating this gesture from their employers, compared to 33% of female employees.
In both the UK and Ireland, employees overwhelmingly view Christmas gift cards as a means to treat themselves rather than covering essentials.
Only 23% of workers in both the UK and Ireland using them to pay bills. This trend is slightly higher among employees in Ireland, 26%, versus UK, 20%.
Flexibility to spend a gift card anywhere is highly valued by employees in both the UK and Ireland, with 88% of respondents saying it was important they were able to spend their gift cards in any store and online, rather than being limited to a select list of retailers.
However, Irish employees, 92%, are particularly drawn to gift cards that allow for varied spending choices across multiple retailers versus the UK, 41%.
Responding to the results of the survey Kealan Lennon, CEO of CleverCards said: “In the latest budget, the small benefit tax exemption has been increased from €1,000 to €1,500, providing greater financial flexibility for both employees and employers.
"Notably, the restriction limiting this exemption to two benefit payouts has been removed, allowing for more freedom in how the benefit is distributed throughout the year.
“With the ongoing rise in the cost of living, this adjustment is a welcome relief, enabling employers to provide tax free benefits up to €1,500 annually per employee, without any PAYE, PRSI, or USC obligations for either party.
"This change supports both employees' financial well-being and employers' ability to reward and retain talent.
“As companies seek ways to retain top talent, the survey findings underline the importance of flexible, tailored Christmas gift cards as vital in employee job satisfaction and loyalty.”