Zarah ChoudharyThe latest insight from The Global Payroll Association (GPA) has revealed that the average Christmas bonus is expected to increase by 8.3% this year to £788.
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 were expecting a bonus, only 14% said it was contracted, with the most common type of bonus paid being a flat figure payment, while gift cards were also a common method, as was a percentage of salary.
64% of those expecting a Christmas bonus felt that the sum gifted was sufficient.
The GPA analysed current ONS earnings data which showed that the average person in Britain earned £38,413 per year.
With a Christmas bonus estimated to sit at 2% of earnings, this means the average person receiving a bonus should expect to take home an additional £768.26.
This figure has increased by 8% in the last year and by 40% in the last decade.
Melanie Pizzey, CEO and founder of the GPA said: “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.”
