Financial and business news from Bulgaria

Surprise! See how many companies in our country will give Christmas bonuses despite COVID-19

The majority of the business will give Christmas bonuses during a pandemic.
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About 60 per cent of companies intend to give additional incentives to their employees, even though their share falls from the previous yearwhen they were over 70 percent.

The main reason for receiving the additional incentive is both the holidays and the motivation of the employees. This shows data from the express survey on the additional remuneration /bonus/ around Christmas of the Bulgarian Chamber of Commerce and Industry (BCCI), the employer organization said.

Over 14 per cent of the companies state that the main reason not to give out bonuses is the negative consequences of COVID-19, and for over 20 per cent the poor financial situation does not allow additional stimulation of employees. 7 per cent of managers have not yet decided whether they will stimulate further Employees

43 per cent of companies indicate that they individually determine the additional remuneration, according to the employee's performance, and 39 per cent give the same incentive to all.

The amount of bonuses varies, with the largest share this year the incentives up to 200 BGN - 36 per cent, followed by 200 to 500 levs - 22 per cent. Bonuses over 1000 BGN can expect in about 15 percent of the companies that will reward their employees.

The BCCI points out that employees who will receive over 1000 levs are increasing compared to last year, when their share was only 7 per cent. In some cases, the bonus will take the form of an object prize.

For a third of businesses, bonuses will be lower than last year and for a quarter higher.