JACKSONVILLE, Fla., Oct. 18, 2016 /PRNewswire/ -- Three-fourths of HR and hiring managers (75 percent) reported their company plans to give employees monetary holiday bonuses this year, up from 67 percent last year, according to the 2016 Holiday Bonus and Hiring Survey by Accounting Principals, a leader in the staffing and recruitment of accounting and finance professionals. What's more, annual bonuses might even be bigger this year. In 2015, companies planned to give employees $858, on average. This year, that number has risen to $1,081, with 29 percent of companies planning to give employees $1,000 or more.
The Accounting Principals Holiday Bonus and Hiring Survey polled more than 500 U.S. HR and hiring managers, and explored company holiday celebration and hiring trends. The survey results provide valuable insights for today's employees and job seekers as we enter the holiday season.
Of those not planning to give monetary bonuses this year (25 percent), 39 percent indicated they plan to give their employees other perks, or offer bonuses at other times of the year (22 percent).
According to 82 percent of HR and hiring managers, there are things employees can do to help increase their likelihood of getting a bonus, such as:
- Staying more motivated throughout the year (54 percent)
- Being more positive and upbeat (45 percent)
- Volunteering to take on additional job duties (34 percent)
- Reminding the company of their accomplishments (23 percent)
- Asking their boss directly for a bonus (15 percent)
"We're seeing salaries increase across the board and it's great to see that HR and hiring managers are continuing to recognize the efforts of their employees through holiday bonuses," said Kim Gottschalk, senior regional vice president at Accounting Principals. "Amidst the rise in demand for qualified candidates, employers have to get creative by offering perks that go beyond the salary. While issuing holiday bonuses is an excellent way to reward employees and help attract top talent, we're also seeing employers that are offering extra paid time off during the holidays, which goes a long way in increasing morale and attracting new employees."
The survey also revealed that half (50 percent) of HR and hiring managers reported that they start the recruiting process for 2017 new hires in October (29 percent) and November (21 percent).
"For those looking to explore different opportunities in the new year, the time is now," said Gottschalk. "Employers are getting a jump start on hiring for 2017 and more than half (54 percent) will complete the process within two to four weeks. Don't wait until January to begin your search, when only 15 percent of HR and hiring managers start their recruiting process. We encourage job seekers to contact recruiters now while the opportunities are fresh and they have a head start on their competition for 2017."
The Accounting Principals Holiday Bonus and Hiring Survey was conducted by Wakefield Research among 500 U.S. HR or hiring managers, between September 9th and 19th, 2016, using an email invitation and an online survey. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 4.4 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
About Accounting Principals
Accounting Principals is a leader in the recruitment and placement of accounting and finance professionals, offering a complete range of workforce solutions in accounting, finance, mortgage and banking. Our nationwide branch network consists of experienced professionals that average five years of real-world accounting experience plus more than five years of finance and accounting recruitment experience. In addition to providing clients with a combination of temporary staffing, temp-to-hire and direct placement services, Accounting Principles also helps clients overcome their challenges through an in-depth understanding of their business needs. For more information, please visit www.accountingprincipals.com.
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SOURCE Accounting Principals