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Average holiday bonus will be $1,081 this year, survey says

October 19, 2016

The average holiday bonus this year is expected to be $1,081, with 29% of companies planning to give employees $1,000 or more, according to a survey released by Jacksonville Fla.-based Accounting Principals. This is up from 2015, when companies planned to give employees $858.

Additionally, 75% of HR and hiring managers reported their company plans to give employees monetary holiday bonuses this year, up from 67% in last year’s survey.

Of the 25% not planning to give monetary bonuses this year, 39% indicated they plan to give their employees other perks and 22% plan to offer bonuses at other times of the year.

The survey also found 82% of HR and hiring managers noted that employees could take action to increase their likelihood of getting a holiday bonus this year. Respondents suggested:

  • Staying more motivated throughout the year: 54%
  • Being more positive and upbeat: 45%
  • Volunteering to take on additional job duties: 34%
  • Reminding the company of their accomplishments: 22%
  • Asking their boss directly for a bonus: 15%

“We're seeing salaries increase across the board and it’s great to see that HR and hiring managers are continuing to recognize the efforts of their employees through holiday bonuses,” said Kim Gottschalk, senior regional VP at Accounting Principals. “Amidst the rise in demand for qualified candidates, employers have to get creative by offering perks that go beyond the salary. While issuing holiday bonuses is an excellent way to reward employees and help attract top talent, we’re also seeing employers that are offering extra paid time off during the holidays, which goes a long way in increasing morale and attracting new employees.”

The survey also found 29% of HR and hiring managers start the recruiting process for 2017 new hires in October, and 21% start the process in November.

“For those looking to explore different opportunities in the new year, the time is now,” Gottschalk said. “Employers are getting a jump start on hiring for 2017 and more than half, 54%, will complete the process within two to four weeks. Don’t wait until January to begin your search, when only 15% of HR and hiring managers start their recruiting process.”

The survey was conducted between Sept. 9 and Sept. 19, 2016, among 500 US HR or hiring managers.