Most people think it’s unlikely they’ll receive a Christmas bonus this year. Why are they falling out of fashion with employers?
It’s hard to track down the origins of the work Christmas bonus. The New York Times has archive articles dating back to the 1920s, so it appears that there is a significant history behind this concept.
Though it certainly looks as if times are changing here in Britain. The majority of employees (73%) don’t believe they’ll receive a bonus this year and 1/3 of professionals never have.
Why are employers shying away from the Christmas bonus?
- 40% of people think it’s due to their industries making ‘constant cutbacks’
- 36% say their companies are simply too profit-focused
- While almost 1/3 don’t think their employers ‘care enough’ to offer such a gift
What can employees expect?
- Even those who are likely to receive a bonus may be awarded much less than they have in previous years. The average sum has fallen from £792 in 2016 to £363 this year.
- Employees seem to be grateful for any offerings, with 95% of people happy to receive a ‘£50 shopping voucher’.
Are employers missing a trick?
- Most people (89%) think they deserve a bonus and say it would also make them feel ‘valued and appreciated’ for their efforts (60%).
- Over 1 in 5 respondents think they’d even work harder as a result.
- Worryingly, 15% of employees also admit they feel ‘particularly angry’ about their job in the lead up to Christmas.
There may of course be an excellent business case for employers foregoing the annual tradition. Yet in a time of skills shortage, and when ‘being recognised’ is a marker of meaningful work, business leaders may want to consider their incentive options.
It could even be worth communicating why you’re unable to provide a Christmas bonus this year, alongside finding other non-financial ways to convey your thanks and appreciation.
Looking to create your own little bonus?
If you’re actively looking for work and have prior office experience, why not register your CV for temporary opportunities? Alongside the financial incentive, temp work can help you gain experience with new employers and industries and (in some cases) may lead to longer-term opportunities.
You can search for current temporary vacancies via our jobs page. Please note: temp jobs can be rapidly filled so it’s always worth registering your CV as a general applicant even if you don’t spot a suitable vacancy straight away!