While 54 per cent of Canadian employees said they prefer a bonus as a holiday reward, just 15 per cent said they expect to receive one this year, according to a new survey by ADP Canada Co.
Among employer respondents, the most common reward they provide is a holiday party (40 per cent), followed by holiday gifts (16 per cent) and additional time off (14 per cent). Just seven per cent of employers said they’re planning to provide a charitable donation or activity to employees.
For employees, nearly a quarter (23 per cent) said they’d like to receive more time off and 22 per cent said they’d like their employer to host a holiday party. Some 11 per cent of respondents said they’d prefer to receive no holiday reward at all, while eight per cent showed interest in a charitable donation or activity.
“This study highlights the importance of having open conversations with employees regarding holiday rewards and incentives to manage employee expectations,” said Heather Haslam, vice-president of marketing at ADP Canada, in a press release. “By taking the time to gain a better understanding of what employees want and how they prefer to be rewarded, employers can help increase employee satisfaction and engagement.
“In addition, employers could consider offering more flexible reward options over the holidays to better meet the needs of Canadian employees, which could also potentially lead to cost savings for the organization.”