The November 2001 Xylo Report: “How Year-End Holiday Rewards Impact Workplace Loyalty,” found that employee expectations were down only 7% compared to the last year’s survey findings.
Just over half the sample reported that their companies provide office parties, cash bonuses and other gifts or rewards at the close of the year. Of those, some 38% say that these rewards bolster their loyalty to the company.
Young Men Expect More
Of those not receiving these rewards, the impact is most deeply felt by young men aged 18 to 34. Almost a third of the men in this group say that their company loyalty is negatively affected, compared with only 8% of women in the same age group.
And, according to survey findings, men are slightly more likely to receive year-end rewards than women, 53% versus 48%.
They are also more likely to receive cash bonuses than
versus 32%, a gap that has widened slightly over the last year.
The survey also revealed that:
- three-fifths of those in the $60,000 and above income bracket receive year-end rewards,
- compared to 31% of those who earn less than $15,000, and
- just over half of those who earn between $15,000 and $30,000.
Range of Rewards
Office parties continue to be the most popular year-end reward, followed by cash bonuses and extra time off. Men are more likely to get cash than women.
- some 53% of employers threw office parties, compared to 53% last year,
- the percentage of employers awarding cash bonuses fell to 42% from 49% last year,
- one in 10 respondents received a turkey or other food gift, compared to 13% in 2000,
- only 8% of employees received individual gifts, a drop of 2% on the previous year,
- just over 5% of the sample received gift certificates, a drop of 3% from last year, and
- one in 10 received extra time off, compared to 8% in 2000.
The survey, conducted by Wirthlin Worldwide, surveyed 1,000 US adults over the age of 18 between November 16 – 19, 2001.