Wednesday 16th Dec 2020
- 74% of bosses nationally plan COVID-friendly work events -
Three in five bosses have planned COVID-friendly Christmas work events for their staff, according to new research from Hitachi Capital Business Finance, but the kind of Christmas bash you have is dependent on the psychological profile of your boss.
Overall, 80% of bosses that describe themselves as extraverted are keen to push ahead with Christmas this year compared to 72% of those who are introverted in nature. When asked what plans they have, extraverted bosses are far more likely to be organising a secret Santa (20% of introverts 16%) and an online drinks party (17% versus 15% of introverts). In comparison, Introverted bosses are rewarding their staff with an end-of-year bonus (23% versus 20% of extraverts) or are holding off making plans until the new year (11% versus 9% of extraverts).
The survey of 1,004 small business owners – made up introverts (67%) and extraverts (33%) - also captures the proportion of money these bosses typically spend on Christmas work events, as an indication of how much they will save this year (£746). Extraverted bosses splash out as much as £931 compared to £655 of introverted ones, a third more overall.
If you work for a small business, you are in luck. The majority are rewarding their staff with an end-of-year bonus (23%), an even bigger consideration for businesses based in tier 3 zones of the UK (25%).
Other festive work plans include:
- Exchanging small festive treats (eg. Champagne) (22%)
- Additional days off to be with their families (20%)
- Personal phone call to say thank you for their hard work (20%)
- Secret Santa (18%)
- Christmas-themed quiz online (16%)
- Online Christmas drinks party for the whole team (15%)
- Bosses under the age of 35: Not only do these business owners spend significantly more money on work festive events during a typical year (£738 versus £538 of those over the age of 55), these bosses are three times as likely to be pushing on ahead with festive work events despite the pandemic (86% versus 49% of over 55 bosses). If your boss falls under this age range, you might be expected to take part in an online festive quiz (19% versus 13% of over 55’s) – or it is likely that there are some festive treats coming your way (24% versus 18% of over 55’s).
- Business size: Bosses who manage a workforce of 50-100 employees are the most likely to be handing out bonuses (28% versus 23% nationally) while those with less than ten employees are giving their staff additional time off to be with their family’s (26% versus 21% nationally).
- Bosses over the age of 55: If your boss falls under this age group, there is a high chance that the work Christmas event you hoped for won’t be going ahead – more than one in two are cancelling the festivities this year (51%). Instead, it is likely you will receive personal phone call thanking you for your hard work (24% versus national average 20%) or, failing that, you might have to wait till the new year for a celebration (13% versus 10% nationally).
- Business leaders in the east of England: 41% are booting Christmas off the agenda this year, but employees of these firms are the most likely to get a generous bonus this Christmas (36% versus national average of 23%).
Joanna Morris, head of insight at Hitachi Capital Business Finance commented: “While this is a light-hearted snapshot of the plans that business owners have to celebrate Christmas with their staff, there is a real message behind the value that employees can bring to a business – and these work events serve to bring in a sense of community and cohesion among a workforce, which is even more important after such a disjointed year.
“At Hitachi Capital Business Finance we understand that no two businesses are the same. This plays out in how they do or don’t celebrate the festive period, and we have noted some varying styles of people management based on whether business owners regard themselves to be introverted or extroverted. These characteristics play out in how they look after staff, approach new business and deal with suppliers.
“Just as we have seen business adapt to remote-working, we can expect bosses to be coming up with inventive and COVID-19 friendly ways of celebrating the festivities with their staff to say thank-you for all their hard work and commitment this year.”
This research was conducted by Marublue on behalf of Hitachi Capital Business Finance among a nationally representative sample of 1,039 small business owners between the 27th November and the 3rd December.