Financial

How Much to Give For Holiday Bonuses

With the holiday season right around the corner, employers are starting to think about ways to reward their teams with holiday parties, surprise gifts, and highly anticipated holiday bonuses. But employers aren’t the only ones who can show appreciation during the season of giving.

It’s the perfect time for you to reward all the hardworking people who provide you services year-round. It can be quite tricky, however, to figure out just how much is considered an appropriate bonus. 

Read on for a list of the 10 people to keep in mind for a holiday bonus so you can plan ahead for your holiday budget.

1. Childcare providers

Childcare providers care for your kids in good and bad times. They may even spend time doing additional responsibilities on your behalf such as food prep and general housekeeping. Most importantly, they love your little ones and keep them safe — that alone is enough reason to make sure your childcare provider is taken care of as well. 

Holiday Bonus Suggestion: For pet care and babysitters, a guideline is equivalent to one night’s pay. For nannies, a recommendation is equal to one week or more. For daycare providers, the suggested range is $25 to $70 per caretaker. In addition to the financial gift, it would be an appreciated gesture to include a small gift from the child. 

2. Trash collectors

They know your neighborhood as well as you do and every week they free you up from the trash you’ve accumulated. Trash collectors keep your place clean and sometimes work through very intense weather to deliver their service. 

Holiday Bonus Suggestion: The equivalent of an hour’s pay in an envelope which you can hand to your collector in person. Consider offering $20 to $25, depending on your area.

3. Mail carriers

There are so many moments throughout the year when you highly anticipate the arrival of an important letter or package. Mail carriers work through all types of inclement weather to ensure you get timely delivery of your mail. While most of the mail delivery companies don’t allow for cash gifts, you can still provide a gift to show your appreciation. 

Holiday Bonus Suggestion: U.S. Postal Service has strict rules regarding customer tipping. Similarly, FedEx and UPS have varying policies about gift value limits and accepting cash holiday bonuses. 

A safe practice is to follow the USPS holiday tipping policy which states that carriers are not allowed to accept cash, check, or gift card gifts of any amount. However, they can accept gifts valued under $20 and are limited to accepting a maximum of $50 worth of gifts within one calendar year. 

4. Child’s teacher

Teachers have an important job of educating the next generation of leaders. They take care of their students year-round, and this also comes with a multitude of expenses for them. In a Business Insider report, it found that some teachers spend as much as $1,000 of their own money for school supplies.

Holiday Bonus Suggestion: It’s important to understand the policy of your child’s school regarding gift-giving. However, providing a small gift shows you appreciate the care and attention they provide to their classroom. 

5. Salon crew

When you go to the salon and treat yourself, these professionals make sure you leave feeling great. Sometimes, they even give you a chance to vent your personal drama as attentively as a therapist would. This crew of manicurists, hair stylists, barbers, and estheticians can get their holiday bonus from you during your last appointment of the year.

Holiday Bonus Suggestion: The standard bonus here varies depending on the type of service, but generally it can be the equivalent of one cut or session.  

6. Building superintendent

If you live in an apartment, you see first-and the amount of responsibility your building supervisor takes on to make residents feel comfortable. Many times, they go out of their way to help you out and their dedication shouldn’t go unnoticed. 

Holiday Bonus Suggestion: If you regularly tip your superintendent every time they help you out, you can stay on the low end of the suggested $30 to $100 range.

7. Doorman

Your apartment doorman is always a welcome and familiar sight at the start of the morning or when you’re back for the night. Many go above and beyond for you and help with your heavy bags and groceries. One thing is for sure: you can always depend on them for continued courtesy and a friendly smile, even among the most difficult of days. 

Holiday Bonus Suggestion: The suggested range is anywhere between $20 to $100, with the larger amount offered to doormen who provide the most service throughout the year. 

8. Parking attendants

If you live in a home that includes valet parking or you happen to park your car at an attended garage, keep these attendants in consideration for the holiday season. Not only do their work hours increase this time of year as more visitors arrive, it also means they may spend less time at home with their families.

Holiday Bonus Suggestions: A Christmas bonus of $10 to $35 per attendant, is suggested, or up to half a month’s rate for the entire group to divide if they regularly provide extra service. 

9. House cleaner

If you hire the services of a cleaner to keep your home tidy, it may be a good idea to tip them as well. They’re an important part of keeping your life in order, and their top-notch service should be recognized.

Holiday Bonus Suggestions: If you hire for regular service, the recommended bonus is equivalent to one week’s pay or more. 

10. Gardener

Through the scorching heat and the frosty wind of winter, gardeners do their part in helping you enjoy your home’s landscaping. Special attention should be provided for gardeners who go beyond their scope, such as providing extra visits to keep your weeds controlled.

Holiday Bonus Suggestions: Providing a holiday tip of $20 to $50 is typically recommended. 

A holiday or Christmas bonus goes a long way in showing gratitude, especially since these gestures are given during a time of year that’s associated with increased spending

If you’re on a tight budget and can’t afford to offer holiday bonuses, don’t worry! A simple, handwritten card or baked good goes a long way in showing your appreciation during the season of giving.



Source
How Much to Give For Holiday Bonuses is written by The Financial Gym Team for financialgym.com

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