When was the last time you told your team that you truly appreciate them? It may come naturally for you to do so in terms of your clients, such as sending end of year thank you letters to go out to all of your clients expressing how grateful you are for them and how you wouldn’t have the business you have if it weren’t for them, etc. What about expressing the same level of gratitude for your team members?

As we approach the end of the year and reflect back on what our firms have accomplished over this past year, I want to encourage you to thank your team members who are the core of your business. It is important to publicly acknowledge their hard work for you, and the firm’s clients and thank them accordingly. Make sure you tell them what you admire about their work, and compliment what they do well.

This month, as the holiday season is around the corner, I wanted to give you some suggestions on showing gratitude in a bigger way. Here are a few year-end gifts/bonus ideas that will go a long way for people who have shown dedication and commitment to your firm.

Christmas Bonus - if you aren't able to do your normal profit sharing or incentive bonus, consider a $100- $1000+ gift card to Amazon, Target, Walmart, Lowes, etc. to help out with the Christmas gifts they plan to purchase for their family. Inflation impacts your team members just like it impacts your clients.

House Cleaning - People are spending much more time in their homes these days so give them the day off and hire a company to come in and perform a deep clean. Studies show that people are more productive in a clean work environment and who doesn't love a clean house?!

Subscriptions - Cover the cost of a subscription service such as HelloFresh, TradeCoffee, Pandora Premium, Goodreads, Disney+, Hulu, Netflix, etc. for 1 year. It is the gift that keeps on giving and is much better than the jelly of the month club!

Experiences - If you have an idea of your team member’s personal interests, consider an experience offered through a company like blueboard.com. These can get pricey so make sure it makes sense in the overall budget.

Event Tickets - Whether it is a concert, musical, or sporting event, tickets to an event that your team member would enjoy is a personalized gift that would make for a great night out.

Exercise Equipment/Membership - You don't want any of your team members to think you are trying to tell them something, but exercise is still an important part of a daily routine. Your team may prefer equipment to exercise at home over a gym membership, so a treadmill with a desk is a great option. Or a few sessions with a personal trainer.

Recognition - Find something that is of interest to them, e.g. for your hockey fan, get a replica of the Stanley Cup and engrave their name on it with a note of gratitude for their contributions.

Some of these may sound silly, but it really is the thought that counts. Hopefully these were helpful and will spur some additional ideas on how you can show gratitude to your team this holiday season, and all year round. Don't be afraid to get creative and have fun with it and interject some joy and laughter into their chaotic lives. Whatever you end up doing, make sure you follow the de minimis fringe benefit rules to not run afoul with the IRS in reporting income.