A work perk that’s sure to both spark motivation and start the new year strong is by rewarding employees with a bonus.
money.co.uk business bank accounts experts surveyed 500 small business owners on all things surrounding bonuses and employee motivation, and the results revealed that bonus culture is declining. SME owners are 6% less likely to give a bonus this year than they were last year.
Just under half(49%) of respondents are giving their employees a bonus this year, while over two in five (43%) are not.
The sector also plays a part, as just over three in five (61%) respondents in the finance sector are giving their employees a bonus this year, compared to over two in five (45%)of those in the healthcare sector.
The survey revealed the average pre-tax amount bonus given to employees in 2023/24 was £5,265.81,which is £292 lessthan the average amount of £5,557.53 given in 2022/23.
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