The State Of Holiday Bonuses In Louisiana: Trends And Challenges

💰What's going to happen in Louisiana with bonuses this year?

💰What’s the Typical Christmas Bonus?

💰Who Are Some of the Most Generous Companies in Louisiana?

SHREVEPORT, LA – Christmas is less than 3 weeks away and lots of Louisiana companies will be having holiday parties and special events to celebrate workers. But will those parties come with big bonuses for employees?

Because of inflation over the past couple of years, many companies are still struggling to make ends meet and that could impact how much they hand out in Christmas bonuses this year.

What's going to happen in Louisiana with bonuses this year?

We don't really know the answer to that one yet. It’s hard to tell if the Grinch or Scrooge will swoop in and wipe out bonuses. Some companies are planning to hand out gifts rather than cash. But workers say they would rather have the cash.

What’s the Typical Christmas Bonus?

Salary.com reports the typical bonus is about 5% of an employee's annual salary. But that amount varies by company and your individual job. And not all companies give bonuses. In fact, this year might see even fewer businesses sharing the wealth.

Many companies have struggled to find staff and have been forced to offer signing bonuses to attract workers. That will likely impact how much many big operations have to shell out for end of year bonuses.

The report shows about 20% of workers are expecting to get a bonus this year and 10% are expecting to get a pay raise for the New Year.

Business executives do think bonuses can help retain workers and that’s one of the primary reasons cited for giving out holiday bonuses. Bankrate.com says the average American salary this year is about $52,000 dollars and the average bonus is expected to be about $1,900. Indeed.com says the average bonus is 5-10% of your salary, but that seems pretty high compared to what folks have been seeing over the past few years.

But the big question is: Will my company give a bonus?

You just don’t know. Companies don’t typically advertise this. The best advice I can give you is to keep your expectations low and prepare for the worst. So, if you do get a bonus, you will be pleasantly surprised. If you plan for a big check and it never comes, you could be disappointed. Think Chevy Chase in Christmas Vacation.

Who Are Some of the Most Generous Companies in Louisiana?

Ochsner Health Systems has typically been quite generous during Christmas. In previous years, workers got bonuses ranging from $1,000 to $15,000 dollars. We don’t know if that will be happening this year.

Power company Entergy usually passes out bonuses for Christmas, ranging from $4,000 to about $10,000 dollars. But again, we don’t know if that will be happening this year in light of the business climate and inflation.

LHC Group (a home health care company) typically gives out bonuses ranging from $3,000 to $15,000.

Another Health Company Amedisys has also been quite generous in previous years with checks ranging from $1,500 to $16,000.

Remember These Monster Bonuses in Texas?

It’s been a few years, but back in 2015, a Texas Company gave every employee a $100,000 Christmas Bonus. These monster checks came from Hilcorp Energy Company, the largest privately-owned and natural gas producer in the United States. With all the turmoil in the oil and gas business right now, I would not expect these kinds of bonuses this year.