Employees prefer bonuses over other holiday rewardsBy The IJ Staff | December 03 2019 12:51PM
There’s a “clear disconnect” between Canadian employee and employer expectations when it comes to holiday rewards, says a new study from ADP Canada, released this week. It found that 54 per cent of employees would like a bonus, but only 15 per cent say they expect to receive one this year.
The study, an online survey of 1,562 Canadians, found that a holiday party was the most common reward provided by employers, followed by holiday gifts 16 per cent of the time and additional time off 14 per cent of the time. Nearly one-third of those surveyed said they would like their employer to offer more time off while 23 per cent said they would like to receive a gift. Only 22 per cent said they’d like their employer to host a holiday party.
In a separate survey of more than 600 senior managers at companies in Canada with more than 20 employees, global staffing firm, Robert Half found that 33 per cent of companies in Canada that offer year-end bonuses plan to increase them. Overall, nearly two thirds said their company offers year-end bonuses. Only three per cent admit they expect to reduce the amount given to employees this holiday season.
“Companies shouldn’t underestimate the positive impact bonuses can have on their team’s morale and engagement,” said Robert Half’s senior district president, David King. “Showing appreciation through monetary incentives can help boost employee satisfaction and keep staff motivated and focused heading into the new year.”