Holiday Bonuses Could Be Bigger This Year
Three-quarters of companies plan to give employees holiday bonuses this year, up from 67 percent last year, according to a new survey of 500 HR and hiring managers by the staffing company Accounting Principals.
Holiday bonuses this year are expected to average $1,081, up from $858 last year on average, and 29 percent of companies plan to give employees $1,000 or more.
Of the 25 percent of companies that don’t plan to give their employees monetary bonuses this year, 39 percent indicated they intend to give their employees other perks, or offer bonuses at other times of the year (22 percent).
Eighty-two percent of HR and hiring managers, employees can do a number of things to help increase their likelihood of getting a bonus, including staying more motivated throughout the year (54 percent), acting more positive and upbeat (45 percent), volunteering for extra job duties (34 percent), reminding the company of their accomplishments (23 percent), and directly asking their boss for a bonus (15 percent).
“We’re seeing salaries increase across the board and it’s great to see that HR and hiring managers are continuing to recognize the efforts of their employees through holiday bonuses,” said Accounting Principals senior regional vice president Kim Gottschalk in a statement. “Amidst the rise in demand for qualified candidates, employers have to get creative by offering perks that go beyond the salary. While issuing holiday bonuses is an excellent way to reward employees and help attract top talent, we're also seeing employers that are offering extra paid time off during the holidays, which goes a long way in increasing morale and attracting new employees.”
Fifty percent of the survey respondents said their companies start the recruiting process for 2017 new hires in October and November.