By Business & Finance 
Pictured: Terry Spence, Director – B2B Sales, One4all
As we plan for 2025, it’s important to review 2024 and see where you can start making improvements with your employee rewards programme. Did you know, as part of the recent budget announcements, as a business owner, you can now gift an employee up to €1,500 tax-free?
Terry Spence, Director of Sales at One4all Rewards stated “A significant development for business owners came into effect on January 1st through benefit-in-kind (BIK), which might just be the answer to bolstering employee morale and loyalty.” You can now gift an employee up to €1,500 tax-free, thanks to the increase in the BIK limit to €1,500. This change allows businesses to reward their employees with up to €1,500 per annum in One4all Gift Cards, exempt from tax, PRSI, and USC charges, potentially saving up to €1,980.68* per employee. The maximum reward of €1,500 can be split across five payments in one financial year.
This is the perfect scheme to utilise as part of your 2025 rewards programme. The flexibility of splitting this benefit across five payments in the calendar year opens the door to so many more rewarding opportunities. Terry states, “Recognising colleagues throughout the year is crucial for creating a positive work environment.” Here are a few occasions worthy of acknowledgment that your business can start to incorporate into your rewards and recognition programme:
Employee Milestones: Celebrate years of dedicated service and personal achievements, reinforcing loyalty and commitment.
Meeting or Surpassing Targets: Acknowledge individual and team accomplishments, fostering a culture of excellence and productivity.
Team Motivation or General Recognition: Inspire collaboration and camaraderie through acknowledging collective efforts and positive contributions.
Birthdays: Make individuals feel valued and appreciated on their special day, strengthening workplace relationships.
Maternity/Paternity Leave: Show support and gratitude for life-changing events, emphasising work-life balance.
Long-Service: Honor dedication and loyalty, recognising the enduring contributions of long-term employees.
Retirement: Bid farewell with gratitude and appreciation, celebrating a career’s worth of achievements and memories.
The popular One4all Gift Card is a perfect reward and can be loaded from €15 to €150 and its digital counterpart can be tailored with a personalised video message from you on behalf of your business or customised with a photo of your company logo; easily sent by text or email. For higher value loads over €150, the One4all Chip & PIN Gift Card is a great option, payments can be made contactless, and the card comes in a physical, or a digital reloadable format. EU Directives to protect Irish consumers means anonymous gift cards with a load value of over €150 currently require a simple photo verification process to help protect Irish consumers against online fraud. Employees who have already received a Chip & PIN Gift Card benefit from previous photo verification, meaning the ID process is still valid for a period of up to four years from initial verification.
Something One4all are proud of is when you choose One4all Gift Cards, you’re not just rewarding your employees, you’re also supporting Irish retail. The closed-loop gift card system ensures that the funds can only be spent in Ireland through Irish retailers which helps boost the local economy and is great for Irish jobs. Terry emphasised, “When you reward with a One4all Gift Card this year, you’re giving the gift of choice with access to thousands of outlets nationwide and participating online retailers. You can select from big brands, as well as options for travel, dining, and experiences, delivering amazing value.”
For more information, email rewards@one4all.ie or visit www.one4allrewards.ie to place your order today.
*Figure of €1,980.68 is based on giving €1,500 net to an employee on the 40% tax band paying full PRSI and USC.
