BRITISH BOSSES ARE SCROOGES AS A THIRD OF THE NATION’S WORKERS HAVE NEVER HAD A CHRISTMAS BONUS, ACCORDING TO NEW RESEARCH
· Bonuses cut by 54 per cent in the last three years, despite the £50 tax free trivial benefit
· 95 per cent of employees said they would be delighted with a £50 shopping voucher as a gesture of goodwill
· A staggering 47 per cent of staff say they’d rather have a bonusthan a Christmas party
· Edinburgh and Plymouth are national hotspots for workplace bonuses and festive gifting
The nationwide study by Hawk Incentives found that 33 per cent of British workers have NEVER been given a Christmas bonus by their employer.
Nearly three quarters (73 per cent) are not expecting a financial boost this year, with 7 in 10 believing the Christmas bonus will soon be a thing of the past.
See the full study findings here: https://www.
The study found that 40 per cent of people believe that this is down to constant cutbacks in their industry, and 36 per cent say that companies only care about profits. Almost a third of respondents believe that employers just don’t care enough to reward them at Christmas.
According to the data, even if you are lucky enough to receive a Christmas bonus, you might not get very much. Three years ago, the average amount people received was £792, a stark contrast to the £363 expected in pay packets this year.
Perhaps unsurprisingly, nearly 9 out of 10 workers (89 per cent) believe they deserve a bonus. On average people think that they deserve a reward of £864 – but it doesn’t appear that the value is the key factor in the reward. In fact, 95 per cent of employees said they would be delighted with a £50 shopping voucher.
In fact, 60 per cent of the 1,500 polled said they would be absolutely delighted to receive any “token of goodwill” from their employers – no matter how big or small – as it would show they are valued and appreciated for the work they do. Over a fifth said that if they received one it would make them work even harder.
Chris Ford, Senior Director, UK Sales at Hawk Incentives, says: “This research sadly reveals that so many UK employees believe that Christmas bonuses are a thing of the past. It also shows how morale boosting a bonus of whatever size can be for an employee. Many businesses are unaware that you can give up to £50 to each of your employees, tax free, each year as a trivial benefit.
“It’s hugely important to make the bonus standout and not to try to second guess what an employee would want, instead why not make sure that the bonus has instant choice and appeal. Hawk Incentives identified that choice was paramount to a successful offering many years ago. It’s why our reward offerings One4All, Select, Voucher Store and our Choice range (i.e. Restaurant Choice) were conceived. Our suite of offerings can not only be redeemed in multiple stores, but they can be branded and personalised, which means they can be an ideal Christmas gift to employees and customers alike.”
Chris continued: “High employment engagement is a constant theme we see in the highest performing businesses across the UK. A small token of appreciation at Christmas time, or any time, can go a very, very long way.”
If you are hoping to receive a little extra this December, then head to Edinburgh where 76 percent of people have had a Christmas bonus. Plymouth was the city with the most festive bosses, where 78 per cent of people had received presents from their managers compared to the hard-done-by workers of Cambridge where only 50 per cent had been gifted.
For more information on how your business could benefit from Hawk Incentives rewards, recognition, incentives and gestures please go to www.hawkincentives.co.uk or call 0207 419 8191.
- Eltropy to Host Webinar on How CFIs Can Set Themselves Up for Success with ChatGPT Read more
- Profile Software Offers Digital and Core Banking as SaaS on AWS Read more
- Truist to Present at the Morgan Stanley US Financials, Payments & CRE Conference Read more
- RIBBIT Acquires ValidiFI, Bolstering Data, Products and Market Presence Read more
- BridgeFT Named a Finalist in Three Categories in the 2023 WealthManagement.com Industry Awards Read more