According to recent research by Towers Watson, companies with non-cash rewards have a revenue that is 6.6% higher than those with cash-only rewards. While satisfying at the time, monetary rewards are quickly used and forgotten about and so have no lasting motivational effect.
Lonergan Corporate Gifts, a WEConnect International certified women-owned business, can help you achieve your HR staffing goals: Incentive use leads to higher motivation and commitment, and lower recruitment costs as staff turnover falls and have a more focused and productive workforce.
They can also help you achieve your financial HR goals: It makes financial sense for companies to give gifts over cash or vouchers. Small gifts up to the value of €250 per year are tax exempt. Gifts must take the form of tangible gifts to qualify for tax relief, i.e. a camera, watch etc. Tax relief is not available for cash, vouchers or bonus bonds which are taxable in full. What about all the 23% VAT you can claim on gifts that you cannot on vouchers as well? In a recent job costing €30,000, the company saved over €5,609 in VAT alone.
To learn more about their new innovative HR gift fulfilment solution or online staff catalogue, please call one of their experienced team members on 01 6012601 or email them at firstname.lastname@example.org with any questions you may have or to set up a meeting to discuss your requirements.