Just 1 in 5 workers expecting Christmas bonus
The latest insight from The Global Payroll Association (GPA), reveals that whilst the average Christmas bonus is expected to increase by 8.3% this year to £788, barely one in five employees are expecting to receive one.
The survey of 2,320 British office workers, commissioned by the GPA, found that almost half (46%) had been working at their current company for over a decade.
But despite this, just 21% stated they were expecting a Christmas bonus.
Of those who are, only 14% said it was contracted, with the most common type of bonus paid being a flat figure payment, whilst gift cards were also a common method, as was a percentage of salary.
The good news is that 64% of those who are expecting a Christmas bonus feel that the sum gifted is sufficient.
But how much should you expect when it comes to the addition of a Christmas bonus in your pay cheque?
The GPA analysed current ONS earnings data which shows that the average person in Britain earns £38,413 per year.
With a Christmas bonus estimated to sit at 2% of earnings, this means the average person should expect to take home an additional £768.26 – if Santa is set to visit their workplace that is.
This figure has increased by 8% in the last year and by 40% in the last decade.
Melanie Pizzey, CEO and founder of the Global Payroll Association, says: “Christmas is a time for giving and most workplaces will try and show their appreciation to employees in one form or another. For some, this means a nice boost to their monthly pay cheque although a Christmas bonus isn’t as common as you might think, with just one in five workers expecting to receive one this year.
This Christmas is likely to be tougher than last given the government’s changes to National Insurance, with many companies already struggling as a result of this tax hike.
Whatever the case may be, spare a thought for the hard working payroll professionals within your organisation, who will be working tirelessly to ensure that any additional bonuses are paid and often this side of Christmas rather than for the end of month.”
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