Home Business News Christmas bonus is in higher demand this year amid the cost of living crisis employers should reward their staff

Christmas bonus is in higher demand this year amid the cost of living crisis employers should reward their staff

by LLB Reporter
1st Dec 22 3:02 pm

A national survey commissioned by global provider of workforce and advisory solutions, Resource Solutions, has revealed a divide in sentiment towards end-of-year work parties among the UK workforce.

Resource Solution’s Workplace Christmas Benefits report reveals that only one in 10 (10%) believe it’s essential for their employer to arrange a party this year. The majority (53%) of UK workers do not feel their employer has a responsibility to arrange an end of year social, of which 15% have no interest in anything from their employer at the end of the year.

Christmas bonus preferred by majority of UK workers

As the cost-of-living crisis remains front of mind for employers and employees alike, businesses are faced with the quandary of deciding whether and how to bring colleagues together in an age of hybrid office/remote working.

Almost half (42%) of those who weren’t interested in a festive social event stated they would prefer a bonus or gift, highlighting the financial pressures felt across the UK. In fact, 18% of those that do not expect a party stated that they don’t believe it is financially viable for their employer.

Coral Bamgboye, Head of Equality, Diversity & Inclusion at Robert Walter’s Group, the parent company of Resource Solutions, said, “Our data shows how valuable a bonus would be for the UK workforce this year. Employers need to be sensitive to the high living costs for their workforce, particularly during the winter months and the expenses that come with higher energy bills and family festivities.

“Before the pandemic, companies spent on average £257 per employee on Christmas events and gifts. According to our survey, employees see end-of-year festivities less as a reward, and more a chance to bond with, or even meet their colleagues for the first time in person, so this year employers may consider more cost-effective ways to bring people together and offer a portion of this budget towards staff bonuses.”

Other reasons for not being interested in an end-of-year work party include, not celebrating Christmas (11%), not wanting to socialise with colleagues (34%), or preferring to arrange something with close colleagues (30%).

Colleague bonding is top motivator for work Christmas party

Of the 37%* that expect a party, team bonding and colleague relationships is the most important factor for two thirds (66%), indicating a high demand for human connection following two lockdown Christmases.

Kirsty Adams, Chief People & Culture Officer at Resource Solutions, said: “Of those that want a party, a staggering 91% of Gen Z crave the chance to bond with colleagues, possibly for the first time since joining the workforce. These results highlight the challenge this generation faces when attempting to build relationships with colleagues following years of pandemic restrictions, and the shift towards remote working.

“It’s also considered a great networking opportunity by many younger UK employees. 60% of Gen Z workers believe an end-of-year social gives them the chance to meet people in the company beyond their team, including senior employees, with the hope to make a good impression.

“Understandably, this figure drops to 18% of over 55-year-old employees, who are likely to have had more opportunities pre-pandemic to make connections at work and would instead appreciate a party as a form of reward. Based on this survey, it’s helpful for employers to consider that those at the start of their career are eager to make connections via in-person experiences as an integral part of their progression, at Christmas and throughout the year.”

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