The lack of a year-end bonus will probably not come as a surprise to the roughly 300 respondents of online job board TrueCareers’ survey. A similar 61% did not receive a bonus last year.
For those that do regularly receive a bonus, change is expected by more than half (51%). Nearly one-quarter predict their company will not give out bonuses, while 16% say their bonuses will probably decrease. More than 10% predict a change in bonus eligibility requirements. By comparison, last year 47% did not expect to receive a year-end bonus and that 33% of individuals thought their bonuses would decrease.
For two-thirds (67%) of the survey’s respondents, whether or not they received a year-end bonus could have a trickle down effect on their spending on holiday gifts, travel and other holiday expenses. More than half say they will buy fewer gifts this holiday season, while 24% say they will travel less or reduce certain leisure activities.
Also playing a part in their holiday plans on individualfinancial situations. More than four out of 10 (41%) of those polled feel they are worse off financially than they were last year, while 31% of individuals say they are better off. Another 28% of respondents say their finances have stayed the same. Nearly 40% of respondents are considering getting a part-time job to earn extra money during the holiday season.