With many Americans planning to stay close to home this holiday season due to the coronavirus pandemic, workers are less interested in paid time off than other company perks.
A majority of workers (70%) said they won’t travel outside their state this holiday season, and 38% will take less paid time off (PTO) than in years past, according to new research by Isolved, a human resources software provider.
As workers write off traditional end-of-year work celebrations, many are looking toward what is in store for workplaces in 2021.
Employees focused on cold hard cash
With workers less concerned about time off this holiday season, other desires are top of mind — particularly money. When asked what they wanted most from their employers this year, 37% of respondents — the No. 1 answer — cited a bonus. That was followed by:
- Job security (35%)
- Annual merit increase (21%)
Those hoping for a bonus might be heartened by an earlier survey that found that more than 6 in 10 employers were planning to offer bonuses this year.
Workers are not in much of a celebratory mood this year, though. In fact:
- Only 6% of those surveyed by Isolved were most interested in receiving a gift from their employer
- 1% were most interested in an in-person holiday party
- No respondents were most interested in a virtual party
There will also likely be fewer gift exchanges among colleagues, with 62% saying they won’t buy gifts for coworkers this year.
More than 8 in 10 respondents (81%) believe their job is secure as 2020 winds down. That’s not to say they didn’t face their share of pandemic-related setbacks this year. In fact, more than half (54%) said their job had been negatively impacted by the pandemic. Breaking this down:
- 15% said their pay was cut
- 14% said their hours were reduced
- 8% didn’t receive an expected pay raise
- 6% were laid off
- 6% were furloughed
- 5% had to work longer hours
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Company culture a top concern
More than 1 in 2 employers (56%) said employee experience matters more to them going into 2021 than it did this year. Isolved defined employee experience as “the end-to-end communications and capabilities that a person has with an employer before, during and after their tenure.”
The survey also suggests that employees would like to see more from their employers on this front, as 45% rated employee experience under their current employers as “average.”
Workers also are paying more attention to company culture — defined by Isolved as “the values and beliefs a company promotes and performs” — than in the past. In fact, 40% of respondents ranked it as more important than a year ago.
Such expectations could have major implications for employers, as an earlier survey showed that 79% of workers have left a job in the past because of a bad company culture.
Methodology: Isolved surveyed 300 full-time employees on Oct. 26 and 27, 2020. The survey sample included employees of various titles and across multiple levels.