Status: 09.01.2024, 16:00 PM
By: Marco Blanco Ucles
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Until the end of 2024, companies will have the option of paying their employees an inflation compensation bonus. Just under 75 percent have already done so.
Almost everything is becoming more expensive, inflation continues to rise. This makes it all the more pleasant for the population that employers have been allowed to pay their employees an inflation bonus of up to 26,2022 euros since 3 October 000 - tax-free and duty-free. Other rules, on the other hand, apply to pensioners and recipients of citizens' benefits. The ifo Institute in Munich has now launched a survey on this topic – with a quite surprising result. Although the payment of the bonus is by no means mandatory, 72 percent of all companies surveyed have paid the bonus to their employees.
Companies are free to decide on the amount of the premium. Up to 3,000 euros, the premium is tax-free. The only important thing is that – with a few exceptions such as part-time employees – all employees receive the same amount and that the principle of equal rights applies. There are also companies that have exceeded the 3,000 euro mark. Reinhold Würth, head of the Würth family business, told Handelsblatt that each employee received a net payment of 3,000 euros on top of the tax-free 1,000 euros.
Twelve percent of the companies surveyed do not offer inflation compensation premiums
In addition to the 72 percent to companies that have already paid out the premium, 16 percent of the companies stated that they would still pay the premium in the future. This is still possible until the end of 2024. Only twelve percent of the companies surveyed stated that they would waive the additional payment to employees. For 27 percent of the companies, the payment was made as part of a collective bargaining agreement.
The majority of German companies have paid their employees inflation compensation. © Rene Traut/IMAGO
By analysing the companies more closely, the institute's experts were also able to identify certain tendencies. The willingness to pay an inflation compensation premium increases with increasing company size. For companies with at least 500 employees, the bonus was paid in 93 percent of all cases. The industry leaders were companies in industry – 93 percent. Close behind are companies in the retail sector with 86 percent and service providers with 85 percent.
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Inflation compensation bonus to increase employee motivation
ifo expert Daria Schaller explains the main reason for paying the bonus: "The main reason for paying out this bonus is the higher motivation of their employees." 71 percent of the companies cited this reason as the main reason for the payment, and 56 percent took advantage of the tax advantage through the bonus.
Slightly less than half – 49 percent – of the companies stated that the premium would strengthen their competitiveness in the competitive labour market. The size of the companies also plays a role in the reasons, explains Schaller: "Small companies focus primarily on the motivation of their workforce, while large companies pay more often when a collective bargaining agreement is reached."
Also interesting: By the end of February, employees will receive the certificate from their employer of the annual declaration submitted to the pension insurance in 2023 - and should urgently keep it safe.