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Holiday Bonuses: A Poll of What Employees Want, and What Employers Give

By: Debbie McGrath

Thursday, January 1, 2015
 

Posted to HR.com by Robert A. Bob Funk, chairman and chief executive officer of Express Employment Professionals, Oklahoma City, OK.

Express Employment Professionals recently released the results of two polls on holiday bonuses revealing that what employees want and what employers are willing to give often are different things.

In an online poll, employees and job seekers were asked, “How do you wish your company showed appreciation to employees?” Twenty-seven percent said “cash bonus,” and 13 percent said “pay raises.”

How Do You Wish Your Company Showed Appreciation?

Cash bonus: 27 percent

Pay raises: 13 percent

Days off or shortened holiday hours: 9 percent

Gift cards: 5 percent

Gift items other than money: 1 percent

A holiday party: 1 percent

A combination of the above: 35 percent

In a separate online poll, business leaders were similarly asked, “What type of holiday bonus will you give your employees this year?” Most said cash, but 21 percent said, “We will not give holiday bonuses.” In addition, of the seven percent who chose “other,” 27 percent self-reported answers like “no holiday bonuses ever.”

What Type of Holiday Bonus Will You Give Your Employees?

Cash: 34 percent

We will not give holiday bonuses: 21 percent

Gift cards: 12 percent

Other: 7 percent

Extra days off: 3 percent

Tangible gifts: 3 percent

A combination of the above: 19 percent

Cash is the top choice among employers, meaning some employees were satisfied this holiday season. But many more were not, particularly those working for an employer who offers no form of a bonus. Gift cards, popular among employers, are not as popular among employees.

During the holiday season, it’s important for businesses to show their appreciation to their employees. It can be disheartening for an employee to feel unappreciated, yet our poll indicates that more than a fifth of employers won’t give their workers anything this holiday season. You don’t have to be extravagant about your holiday bonuses, but it’s important to show recognition. As one respondent told us, “A thank you note will suffice.”

Showing appreciation is investing in your employees. It improves morale and increases loyalty. It’s good for business. So even if you’re a business that’s struggling through difficult economic times, be sure to say thank you. Even the simplest gesture can go a long way and make the holiday season that much brighter for the people who make your business possible.

The Costliest Part of a Bad Hire Isn’t What You Think

Posted to HR.com by Naz Araghian, Robert Half, Intl. Staffing Operations

As expensive as it is to replace a bad hire, the money isn’t what concerns employers most. In a Robert Half survey, chief financial officers (CFOs) say that the single greatest impact of a poor hiring decision is lower staff morale (41 percent), followed closely by lost productivity (34 percent). Monetary costs came in third, garnering 19 percent of the response.

CFOs were asked, “Which one of the following, in your opinion, is the single greatest impact of a bad hiring decision?” Their responses:

Lower staff morale: 41 percent

Lost productivity: 34 percent

Monetary cost: 19 percent

Other/don’t know: 6 percent

“In the current hiring environment of talent shortages, employers may feel pressured to cut corners in order to speed up the hiring process,” notes Greg Scileppi, president of Robert Half, International Staffing Operations. “Although acting with a sense of urgency is important, following a clearly defined hiring process and using the right resources can help prevent unnecessary headaches often associated with rushed decisions.

“A bad hiring decision can cause a negative ripple effect through the organization,” continues Scileppi. “Hiring a bad fit or someone who lacks the skills needed to perform well has the potential to leave good employees with the burden of damage control, whether it be extra work or redoing work that wasn’t completed correctly the first time. The added pressure on top performers could put employers at risk of losing them, too.” MF

 

Related Enterprise Zones: Management


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