Retirement gift schemes
Choosing the right gift for a valued employee on their retirement is never easy and for larger organisations, there is the additional pressure on HR departments to monitor the policy for consistency and often provide the gift administration and presentation.
As is the case with loyal service awards, it is often better to outsource the rewards to a specialist provider and allow internal resources to concentrate on the presentation process.
Issues to consider in relation to retirement gift schemes:
- Could your retirement scheme fit together with your loyal service programme?
- When considering appropriate gifts, remember that most retirees will already possess most of the things they need!
- Given the above, a reward option that offers them the broadest choice of gifts will be the one that is best received.
- There are tax implications for retirement gifts depending on the years of service at retirement.
Love2reward's products and fulfilment services are perfect for rewarding loyalty and we have the experience to discuss those options with you if required.
The solutions we recommend you consider for this initiative are as follows: