US workers are receiving smaller bonuses, indicating that employers are less concerned about losing talent than in recent years. The average cash bonus paid to employees last month was $2,145, down 21% from the previous year, according to payroll software company Gusto. The decline in bonuses was attributed to factors such as businesses not hiring as aggressively as they were a year ago, soaring inflation, and workers quitting at a record rate. The rate at which workers voluntarily quit reached its lowest since September 2020, making employers less generous in bonus time. A November survey by outplacement firm Challenger, Gray & Christmas found that 34% of companies didn't award a bonus in 2023, up from 27% the previous year. The biggest payouts went to finance workers, many at boutique investment firms, with an average bonus of $13,255. Merit-based salary increases will also see slower growth this year at larger employers.