Bosses are increasingly using a simple thank you as a Christmas Bonus for staff, although those planning to provide an incentive is on the rise.
Research has found the percentage of firms which are saying thank you rather than providing a tangible reward has continued to grow over the past five years.
A study of 1,167 UK workers, carried out by workplace and incentives provider One4all Rewards, via it’s Christmas Bonus Index, has found that a simple thank you continues to be the most common form of recognition by employers for the past five years, increasing from 32% in 2014 to 40% in 2019.
For five years running, the second most common form of recognition for UK workers continued to be a tangible thank you such as cash, gift cards or vouchers – increasing from 24% in 2014 to 26% in 2019.
The Christmas Bonus Index highlighted that overall the number of employers giving bonuses has tripled, with 21% of employers planning to give out festive bonuses this year compared to just 7% in 2014.
Christmas bonuses are something that more than half (52%) of respondents think about all year round, as workers reported that they try to maintain good performance throughout the year to ensure they receive a Christmas bonus.
However, the year-round effort may be wasted by some, as December is the month most employers decide on Christmas bonuses for their staff.
Michael Dawson, CEO of One4all, said: “Festive bonuses continue to be a highly anticipated addition to a UK workers salary each year. It’s clear from the Christmas Bonus Index research that some employees are striving to perform well to ensure they receive their festive bonus at the end of the year.
“When comparing our data over the past five years, it’s great to see that bosses are understanding the positive impact a Christmas bonus can have on their staff and that more are now planning on offering bonuses to their workers this year.”