New data shows sectors most likely to pay Christmas bonuses in 2020
Global expenses app, ExpenseOnDemand, has published new data that shows the sectors most likely to pay annual bonuses this year are logistics, digital media and financial services. These sectors have all had buoyant years as the economy has adapted to the Covid pandemic which is some positive news for employees working in these sectors. Elsewhere the research didn’t show such a positive outlook as only 30% of businesses that usually offer annual Christmas bonuses are committed to continuing this trend in 2020.
For many employees this could mean a tough end to a very difficult year, with many not receiving a bonus and others not sure if they will be given their usual annual gift. Numerous businesses have still not confirmed whether they will be able to offer their traditional annual bonus and a recent survey to financial directors from the global expenses app, also highlighted that the sole focus for the majority of businesses is cash flow as financial leaders struggle to manage through this difficult winter.
The ExpenseOnDemand app allows employees to simply upload and claim business expenses from any mobile device, helping businesses to automate their expenses process in a paperless environment. The data from thousands of users shows the extent the pandemic has had on many industries, causing business across the globe to reduce costs, furlough staff and focus on survival. Unfortunately for employees that rely on their annual Christmas bonus as part of their guaranteed income this is seems unlikely for many.
Sunil Nigam, founder at ExpenseOnDemand, commented, “As the real economic impact of the pandemic takes affect many individuals are seeing reductions in pay as financial leaders manage in the short term to try and survive this difficult year. It is encouraging to see some sectors growing this year and hopefully more businesses will grow. Our survey predicted a shift from cashflow to sales over the next 6 months and we will be monitoring these trends closely.
The team at ExpenseOnDemand has adapted our market leading app to make it easier for finance leaders and staff to manage expenses in the new normal, especially with so many employees working from home. They can simply and seamlessly upload expenses and finance teams can automate the whole process.”