Marvin OnumonuFewer than one in 10 (9%) employees were expecting a bigger Christmas bonus this year, research from Epassi UK found.
62% of employees said they were not expecting a Christmas bonus at all.
Seven in 10 (68%) employees said the prospect of a bonus kept them motivated and boosted business performance.
52% of those expecting a bonus said it provided a lifeline due to high living costs, while 40% said they could not afford Christmas without it.
Four in 10 (43%) employees said they thought this was the last year they would receive a bonus.
There was strong demand for ongoing financial support, with 59% of employees expecting a bonus saying they would prefer year-round support instead.
61% of those getting a bonus said they would rather have a better benefits package.
59% of employees said money spent on a Christmas party could be better used for financial support.
Recent findings from Zest found that 62% of employees saw company benefits as the most important thing when deciding where to work, but over half (55%) said their workplace benefits package was inadequate.
Matt Russell, CEO at Epassi UK and Zest, said: “Although many employees are resigned to not receiving a bonus from their employer, there is strong demand for financial support throughout the year to help them with rising living costs.
“Ongoing financial support delivered through benefits packages is a cost-effective approach for employers to reward staff, keeping them motivated which in turn boosts talent retention and productivity.”
