The end of the year is fast approaching, leaving many businesses looking over their 2017 budget to see if there’s any money leftover. If there is, that's great news! Having an end-of-year budget is a huge business advantage. Now you've just got to decide how to responsibly spend it:
Don’t let it get to your head.
No business can depend on a budget surplus happening annually but for the year(s) it does happen, it can feel like a second Christmas. Before going on a spur-of-the-moment spending spree, carefully consider the best places to spend your end-of-year budget in a way that maximizes your company’s benefit. Use this as an opportunity to evaluate your needs and invest in your business for the year to come.
Think of your team members.
If you’re having trouble coming up with a way to dispose of your excess money, investing in your employees with recognition gifts is a great way to go. The end of the year is a great time to show your appreciation to your employees and with a little extra budget on hand, you could really do something nice for them. According to a Reward Gateway study, 70% of employees say that motivation and morale would dramatically improve with managers saying thank you more. An even greater majority agreed that employers should reward their staff for great work.
Drawing a blank on what to buy for your employees? Here are several terrific gift ideas.
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