Christmas Bonuses do not have to be monetary. It is what a lot of employees expect, but there are other amazing rewards you could do to make these bonuses extra special for your staff. Rewards like gift shopping vouchers, gift baskets, extra days or time off, tickets for a sporting event, customized souvenirs, paid vacation and hiring a service provider to render them a much-needed service for free. Here we will see bout Christmas Bonus
Christmas bonus has become a one-off traditional gift given by employers to employees during the end of the year which happens to be during the Christmas festivity period. This is a way of saying a big thank you to all employees. This bonus is sometimes tied to the performance metrics and the reward given can vary depending on certain milestones the organization met.
Why Do Companies Give Out Christmas Bonus
Check out these 4 key reasons why employers should consider gifting their staffs Christmas bonuses this year.
1. Sign Of Appreciation
It is a bonus like this that makes your staffs feel appreciated and valued. When your staff realizes that their work is valued and recognized, they would be motivated to improve their performances in the coming year. It even improves workplace determination and keeps your staff happy.
2. Improved Staff Retention Rates
You will be surprised to know that a lot of job seekers usually go after companies that provide holiday incentives and bonuses to their employees at the end of the year. Rewards like this, serve as an additional income that entices job seekers and keeps them loyal to the company.
3. Increased Productivity
Like it or not, the Christmas bonus increases productivity. That is why companies thrive to make it available to their staff yearly. Since their input is appreciated, they will work harder to help the organization meet its long-term objectives.
4. Boost Morale
We all know that the Christmas period can be very stressful. Thankfully, holiday bonuses usually help to relieve stress during this period. As a result, staff’s spirits are lifted and they feel less pressured.
Guidelines for giving Christmas Bonuses
1. Communication
In this post-Covid-19 era, a lot of companies were adversely affected as such their financial capacity has declined. In a situation like this, especially if the company has a culture of giving out Christmas bonuses, a communiqué has to be sent out informing them if they will be getting a Christmas bonus or not. Do not forget to let them know why they are been rewarded.
2. Equality
It is unfair to distribute Christmas bonuses unequally among your staff. If you do so, you will make your staff feel discriminated against or shortchanged. Ensure that your holiday bonus budget accommodates every staff, to be given fairly and uniformly.
3. Professionalism
We know that Christmas is around the corner and everyone is feeling festive, regardless don’ throw professionalism away. Be cautious of inappropriate things that are considered not safe for work.
4. Confidentiality
Christmas bonuses are not to be treated without confidentiality. It is a holiday bonus that employee celebrates and enjoy but not to be done in a manner that can create competition with others. Therefore, it is treated with utmost privacy and not be disclosed to anyone.
How Much Is A Christmas Bonus
Holiday bonuses are planned and rewarded differently based on the respective organization especially when it is stated in a staff contract.
For financially buoyant organizations, it is branded ’13-month-salary” given to every staff by the end of the year. This means the amount you will receive will be around your monthly salary range.
For others, it can be a percentage of the staff salary.
Note that regardless of the bonus amount, appreciate the kind gesture. Also, expect to receive bonuses that are not monetary.
Conclusion
Employers need to understand that their staff deserves a Christmas bonus for their handwork and dedication. Even if it’s a small holiday gift, gift card, check, paid family trip or service, these rewards speak volumes in the heart of your employees.
Frequently Asked Questions
Question1) Should my Employer give me a Christmas bonus?
Answer 1) Your employer is at liberty to decide whether to give you a bonus since they are not obligated to give bonuses.
Question 2) Is the Christmas bonus considered part of my salary?
Answer 2) No. A Christmas bonus is not in any way part of your salary.
Question 3) What if I don’t get a Christmas bonus?
Answer 3) Due to the harsh economy, a lot of companies cannot afford to give out bonuses. However, they tend to substitute in other ways like paid leave.
Question 4) Should I leave my job because they did not give me a Christmas bonus?
Answer 4) No. A Christmas bonus is a one-off voluntary reward that is not your salary. You can only leave your job if you are denied your salary, not on the basis of a Christmas bonus.
