Festive Bonuses Prevent New Year Resignations

December 10, 20182min

December bonuses are the key to preventing New Year resignations, a survey of 1,096 UK employees has found.

The study was carried out by One4allRewards.co.uk, and found that almost one-in-two workers (46 percent) said having received a bonus or gift from their boss recently would prevent them from looking for a new job.

Almost the same number (45 percent) would be less likely to accept a new job if offered one, if the same had happened.

With workers being more likely to look for a new job in January than any other month of the year, December bonuses couldn’t be timed better for staff retention purposes.

Alan Smith, UK Managing Director at One4all Rewards, said: “It’s interesting to see just how far a token bonus can impact on workers’ loyalty to their employer. Even if you just consider the amount of money that can be lost through recruitment costs when a member of staff resigns – never mind the softer negative impacts and knock-on effects that employees leaving can have, in terms of morale in the workplace – it is clearly something that is worth investing in.

“And thanks to HM Revenue and Customs’ recent introduction of tax exemptions on trivial benefits of £50 per employee or less, it has never been more affordable for businesses to gift staff a little something to make sure they feel valued, ahead of the busiest time of the year for staff departures.”

 

 


Paul Ainsworth

Paul Ainsworth

Experienced Irish journalist and former newspaper editor now helming executive editorial duties with Customer Experience Magazine, the UK's premier online source for Customer Experience news, features, and opinion, along with its sister site, CXM World.




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