Forget the Party and the Gift Cards, Cash Tops the Wish List
Express recently released the results of two polls on holiday bonuses revealing that what employees want and what employers are willing to give are often different things.
In an online poll, employees and job seekers were asked, “How do you wish your company showed appreciation to employees?” Twenty-seven percent said “cash bonus,” and 13% said “pay raises.”
Express received responses from 230 individuals who identify as “job seekers and those new to the career world.”
How Do You Wish Your Company Showed Appreciation to Employees?
- Cash Bonus – 27%
- Pay Raises – 13%
- Days Off or Shortened Holiday Hours – 9%
- Gift Cards – 5%
- Gift Items Other Than Money – 1%
- A Holiday Party – 1%
- Other – 1%
- A Combination of the Above – 35%
In a separate online poll, business leaders were similarly asked, “What type of holiday bonus will you give your employees this year?” Express received 400 responses. Most said cash, but 21% said, “We will not give holiday bonuses.” In addition, of the seven percent who chose “other,” 27% self-reported answers like “no holiday bonuses ever.”
What Type Of Holiday Bonus Will You Give Your Employees This Year?
- Cash – 34%
- We Will Not Give Holiday Bonuses – 21%
- Gift Cards – 12%
- Other – 7%
- Extra Days Off – 3%
- Tangible Gifts – 3%
- A Combination of the Above – 19%
Cash is the top choice among employers, meaning some employees will be satisfied this holiday season. But many more will not, particularly those working for an employer who offers no form of a bonus. Gift cards, popular among employers, are not as popular among employees.
“During the holiday season, it’s important for businesses to show their appreciation to their employees. It can be disheartening for an employee to feel unappreciated, yet our poll indicates that more than a fifth of employers won’t give their workers anything this holiday season. You don’t have to be extravagant about your holiday bonuses, but it’s important to show recognition. As one respondent told us, ‘A thank you note will suffice,’” said Bob Funk, CEO of Express.
“Showing appreciation is investing in your employees. It improves morale and increases loyalty. It’s good for business. So even if you’re a business that’s struggling through difficult economic times, be sure to say thank you. Even the simplest gesture can go a long way and make the holiday season that much brighter for the people who make your business possible.”
How do you plan to show appreciation to your employees this holiday season? Let us know in the comments section below.
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