Christmas is the time to give, and most often, that also means having to spend. After all, a lot of people equate giving with cash and gifts that have to be bought. When it comes to companies â€“ big or small â€“ it has become a tradition to give gifts or bonuses around Christmastime. While this has been the tradition, things have been changing, especially with the economic crisis that has been prevailing for quite some time.
In fact, AP just released a report on a survey in this regard. The details:
NO BONUS: More small-business employees can expect no end-of-year bonuses or gifts for 2009.
A recent survey of small business owners or managers showed fewer of them planning gifts or cash for their workers. “Business owners are still feeling pinched cash wise,” said American Express business adviser Alice Bredin. AmEx’s small business division conducted the survey.
Last year, 44 percent of those surveyed said employees would get an end-of-year bonus. This year, only 31 percent did. Even fewer are planning raises: 16 percent, compared with 30 percent last year. Meanwhile, in 2008, 46 percent of owners or managers said employees would get holiday gifts. This year, it’s 35 percent.
The business owners or managers surveyed oversaw companies with fewer than 100 employees.
This is definitely bad news for small business employees, but perhaps business owners can find a way to lessen the impact of not being able to give bonuses? What are you planning to do for your employees this Christmas?
Photo courtesy of Acme Climate Action