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Your staff Christmas bonus will feel extra special this year…

Businesses have a great opportunity to surprise and delight their staff this year, as just one quarter (25%) of Irish workers are expecting a bonus from their boss.

Despite this, 65% of workers feel that they do indeed deserve a Christmas bonus and 72% say a bonus would significantly improve their Christmas.

Given the impact a Christmas treat would have on staff, the Benefit in Kind tax saving on staff rewards is a real win-win for businesses, giving them a perfect chance to say ‘thank you’, boost productivity and save money this Christmas.

It seems, however, that there is low awareness of the €500 tax-free small benefit exemption on non-cash rewards, available to all Irish employers. Just under half (48%) of respondents are aware of this exemption. If you’re one those 52% who don’t know about the Benefit in Kind tax savings available, you can find out more here. 

Michael Dawson, CEO, One4all, said of the new findings:

“We commission this yearly research into Christmas bonuses and spending for two important reasons: to gain insights into consumer and business attitudes toward awarding Christmas bonuses; and to understand how Christmas bonuses affect and benefit Irish people during the expensive holiday season. While it is unsurprising to find that Christmas bonuses are a big help in the lead up to the holidays, it is hugely heartening to see that Irish workers believe that they are deserving of a bonus – and that this is something companies should be giving their employees for their hard work all year.”

• 65% of Irish workers feel that they deserve a Christmas bonus this year and 85% agree that employers should give staff Christmas bonuses

• Just half (48%) of respondents are aware of the €500 tax-free small benefit exemption on non-cash rewards.

• Close to three quarters (72%) of Irish workers have said that a bonus would significantly improve their Christmas

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