HR & Management

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Bah humbug! The Christmas bonus goes the way of Tiny Tim

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In the report from gift card maker One4all, who surveyed 1,000 workplaces, only seven per cent of workers were likely to get a Christmas bonus this December.

However, the research shows that companies are more likely to suffer when they don’t spread some Christmas cheer. 71 per cent of those surveyed communicated that they would actually prefer an expression of thanks, like the bonus, rather than take a higher salary.

And those who received bonuses were significantly more likely to stay on at their job than go hunting for a new one.

So how can businesses make these bonuses more effective? Declan Byrne, group director at One4all says: “The key to an effective Christmas bonus scheme is to make sure it is a sincere thank you that is directly linked to an individual’s efforts and contribution to the overall business. Our study found that the amount of the reward is not the major consideration when it comes to increasing factors such as loyalty and motivation. Rather, people want to know that their efforts have been noticed and sincerely appreciated.”

“Christmas is a traditional time for showing our appreciation to those people that are important to us. Companies that neglect this tradition may find that they lose out to employers that understand the power of embracing festive giving to staff.”

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