Employee Relations

January bonuses unlikely as pay freezes take place

Interns are the least likely employees to receive their bonuses

Just one in 20 professionals who have not been on furlough were told before Christmas that they would definitely receive their January bonuses, according to the Robert Walters annual 2021 Salary Survey.

The research also revealed that 19% of those surveyed have safely assumed that they will not be receiving their annual bonus.

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When questioning employers about the probability of bonuses, just 12% said they were “very likely” to pay out in January.

These figures ranged depending on superiority, with only 6% of respondents saying they were “very likely” to provide interns with a bonus.

Moreover, 29% of employers surveyed answered “not at all” to the question of internship bonuses, with the proportion reducing to 9% for executives.

Sam Walters, director at Robert Walters, said: “It has no doubt been a difficult year for both employees and employers alike – and as a result tough decisions will need to continue being made by managers into early 2021.

“We have all hopefully had a lot of learnings from the world’s largest remote working experiment and so in January appraisals consider other benefits that can help offset pay – such as increasing autonomy, flexible-hours, secondment opportunities, areas to upskill, and wellbeing initiatives.” 

The report also found that pay freezes are likely, with only 4% of companies committing to a “very likely” stance on offering pre-promised pay increases.

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