Despite fewer bonuses, companies continue to celebrate
The crippling economy has ravaged employees’ 401(k) plans, frozen wages and made bonuses for most nonexistent, but at least this company treat has remained largely unscathed.
Year-end holiday bonuses and gifts have taken a nosedive since last year, yet company parties and events haven’t been hit nearly as hard. In fact, the number of employers hosting holiday parties this year actually went up. What’s more? Employers who are hosting these events are even more likely to foot the entire bill than last year. These findings are courtesy of BNA’s Year-End Holiday Practices survey.
To be more precise, the study found:
- Bonuses and gifts: Only 40% of employers will give them — that’s a drop from 44% in 2007 and 49% in 2006.
- Parties: Almost 81% of companies will hold one or more year-end event (luncheons, dinners, companywide parties, etc.) before the the sun sets on 2008. That’s up from 80% in 2007.
Looking forward to your companies holiday party or other year-end function? Be sure to play it safe and follow these trusted tips.
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