Employers spend hundreds of thousands of dollars on staff Christmas parties every year, but most employees would prefer cash.
A survey of employees in the US found that 72 percent of workers would prefer a cash bonus to any other sort of Christmas perk.
A pay rise was the next most popular Christmas gift (62 percent), followed by an extra day of paid holiday (32 percent) and supermarket gift cards (23 percent).
A Christmas party — even one with an open bar — was an unpopular option (four percent), with more people preferring the ability to work from home (14 percent), company stock or shares (11 percent), private health insurance (10 percent) and gym membership (eight percent).
A train or bus subsidy (three percent) and a gold watch or other jewellery (two percent) were the least popular options.
The survey was conducted by Glassdoor, an online job site. Glassdoor spokesperson Rusty Rueff said the findings showed the credit crunch was still making life hard for most people.
“Until we see the impacts of the great recession further recede, when it comes to what employees want it starts with cash and other financial perks to make sure that ends can be met over the holidays”, Rueff said.
“It may not be sexy but even a nominal amount, a gas or gift card, or an extra day off that an employee can use at their discretion to compensate for the extra hours they have been putting in will likely go much farther in boosting morale than a holiday party. Now is the time to listen closely to what employees need and respond accordingly.”
Your say: Would you prefer a cash bonus to a work Christmas party? [email protected]
