42% of Managers Predict Bonus Levels to Increase This Year
TORONTO, Dec. 11, 2017 /CNW/ - For many workers, 2017 will end on an extra merry note. According to new research from global staffing firm Robert Half, nearly half of senior managers (42 per cent) surveyed said they expect year-end bonus levels to be at least somewhat higher than 2016. Just 8 per cent of respondents reported bonus amounts will decrease, and 33% anticipate no change in bonuses.
Senior managers were asked, "Do you expect year-end bonus levels to be higher or lower than last year's?" Their responses*:
| Much higher |
4% |
| Somewhat higher |
38% |
| No change from last year |
33% |
| Somewhat lower |
6% |
| Much lower |
2% |
| Don't know/no answer |
18% |
| Total |
101% |
*Totals do not equal 100 per cent due to rounding.
Separate Robert Half research found workers' performance typically plays only part of the role in determining their bonus. In the survey, 16 per cent of human resources, benefits and compensation professionals reported bonuses are based solely on individual performance, compared to 27 per cent who said amounts are determined based on individual and company performance and 22 per cent who factored individual, team and company success into compensation decisions. Another 19 per cent said they don't offer bonuses at all.
"Employee bonuses, whether monetary or otherwise, go a long way in demonstrating to workers that their contributions to the business are both recognized and valued," said Greg Scileppi, president of Robert Half International Staffing Operations. "If monetary bonuses are not an option, consider alternatives like gift cards, additional time off or wellness benefits to recognize staff. Whatever the gesture, thanking your team for their efforts over the year can help keep them engaged, motivated and loyal advocates for the organization."
About the Research
The senior manager survey was developed by Robert Half and conducted by an independent research firm. It is based on telephone interviews with more than 300 senior managers from a stratified random sample of companies in Canada. The second survey is based on responses from more than 700 human resources, compensation and benefits professionals in businesses across a variety of industries in North America.
About Robert Half
Founded in 1948, Robert Half is the world's first and largest specialized staffing firm. The Menlo Park, Calif.-based company has 325 staffing locations worldwide and offers online job search and management tools at roberthalf.ca. For career and management advice, follow our blog at roberthalf.ca/blog. Follow Robert Half Canada on Twitter at @RobertHalf_CAN for additional workplace advice and hiring trends.
SOURCE Robert Half Canada
Naz Araghian, 416.865.2140, [email protected]
Share this article