Managers prefer Christmas bonuses to promotions

News Article - 24 May 2012
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Managers across the UK would prefer employers to give them a bonus payment at Christmas instead of promotion, according to a survey published recently by the Institute of Leadership and Management (ILM).

Nearly half of the 3,300 managers questioned said that a financial payment would be the most welcome benefit during the festive season, with just 10 per cent displaying a preference for workplace promotion.

A further one in six labelled training and development their most ideal Christmas benefit, whilst 12 per cent want more staff to be taken on and 11 per cent wish their department had a bigger budget.

Respondents were divided on the matter of Christmas parties: just over half admitted that Christmas parties helped with employee engagement but a further 45 per cent described them as 'fraught with difficulty'.

Managers are also looking to improve their lifestyle after the festive season: 38 per cent said an improved work-life balance was their major New Year's resolution, whilst a further 11 per cent would be looking for a new job.

The economic downturn has forced many workers to put long-term career prospects on hold in favour of short-term financial stability. Companies looking to thank managers sincerely should consider giving seasonal bonuses in favour of promotions and other benefits.

Businesses must always consider the individual needs and requirements of employees when formulating policies. Those that fail to do so risk demotivated staff and managers, in addition to the potential loss of key talent, as a result. However, it can be difficult to ascertain and aggregate individual staff needs due to both time and infrastructure restraints.

Access HR self-service software can help by allowing staff log their workplace needs via a web browser from training requests to online appraisals. With staff able to provide their personal data and information online, HR and senior decision-makers are left with the time and information to influence strategic change, including how their staff would prefer to be rewarded.

For more information on the benefits of Access HR software, please contact us by telephone on 0845 345 3300.

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