Toronto, ON — Some workers will be bringing home bigger paycheques this month, suggests new research from global staffing firm Robert Half. Nearly two-thirds of senior managers polled (64 per cent) in Canada said their company offers year-end bonuses. Of those respondents, a third (33 per cent) noted their organizations plan to increase bonuses this year, while 64 per cent plan to keep them the same. Only three per cent of executives anticipate reducing the amount given to employees.
In a separate survey of workers, 27 per cent said they expect a bonus this year. Professionals have a variety of plans for the extra money, including paying off debt (47 per cent), putting it toward long-term savings (44 per cent), a vacation in the new year (26 per cent), and holiday shopping (18 per cent).
View an infographic about year-end bonuses.
“While offering robust benefits and perks remains important, workers also value rewards that give them the financial flexibility to do what matters most to them,” said David King, senior district president for Robert Half. “Year-end bonuses are an opportunity for companies to recognize employee accomplishments throughout the year while demonstrating they care about their worker’s individual needs and priorities.”
“Companies shouldn’t underestimate the positive impact bonuses can have on their team’s morale and engagement,” added King. “Showing appreciation through monetary incentives can help boost employee satisfaction and keep staff motivated and focused heading into the new year.”
About the Research
The online surveys were developed by Robert Half and conducted by independent research firms. They include responses from more than 600 senior managers at companies in Canada with 20 or more employees and 500 workers 18 years of age or older and employed in office environments in Canada.
About Robert Half
Founded in 1948, Robert Half is the world’s first and largest specialized staffing firm. The company has more than 300 staffing locations worldwide and offers job search services at roberthalf.ca. For additional career and management advice, visit the Robert Half blog at roberthalf.ca/blog.