New study shows 50 percent of American workers expect an end of year gift; most prefer cash bonuses or gift card

"Hopefully companies can gain some insight from this and other data as they look to improve or adjust their compensation strategies for 2023.”

ResumeBuilder.com, the premier resource for job-seekers, has published a recent survey report that shares insight into employee expectations about holiday bonuses and end of year gifts. The report also examines how workers will react if year-end gifts do not meet their expectations. The study generated responses from 1,250 workers, 18 and older, across the United States.

According to the survey, 50 percent of workers expect a holiday or end of year gift from their employers, while 48 percent of respondents believe gift giving should depend on other factors, and 2 percent say a gift should never be given. Comparatively, nearly 70 percent of employees believe holiday gifting is ‘very important’ or ‘important.’ Workers cite cash bonuses as their top preference for holiday gifts.

In terms of monetary value, 44 percent of respondents say end of year gifts should be between $101 and $500. Twenty-three percent of workers want gifts valued between $501 and $1,000, 11 percent say between $1,001 and $5,000, and 3 percent say between $5,001 and $10,000. Only 2 percent of workers say the gift value should be more than $10,000. The study also shows that most respondents are confident about getting holiday gifts or bonuses, with 62 percent citing that it’s ‘very likely’ or ‘likely’ that they will receive one.

Survey results indicate that many workers will react negatively if holiday gifts do not meet their expectations. Forty-four percent of workers say they will reduce the effort they put into their work. Likewise, more than a third of respondents say they will likely start looking for a job if their year-end gift is insufficient, while 20 percent say they will quit.

“While bonuses and gifts are great ways for companies to show appreciation, people who are compensated fairly for their work are not likely to have a negative reaction when they don’t get one,” says ResumeBuilder. “Hopefully companies can gain some insight from this and other data as they look to improve or adjust their compensation strategies for 2023.”

Furthermore, 83 percent of workers feel entitled to a raise by 2023. Forty percent of respondents say they will start a job search if they do not receive an increase in wages, and 38 percent say they will put less effort into their work. Correspondingly, 23 percent of workers plan to quit if there is no increase in compensation.

ResumeBuilder.com commissioned and conducted this study via the online platform Pollfish. The survey was distributed on December 1, 2022. All data found within this report derives from the survey, and appropriate respondents were found via Pollfish's demographic tools. Respondents were asked to answer all questions truthfully and to the best of their abilities. Pollfish uses Random Device Engagement (RDE), which is both random and organic.

To view the complete report, please visit https://www.resumebuilder.com/44-of-workers-will-quiet-quit-if-holiday-bonus-falls-short-of-expectations/.