E-mail updates
Follow on Twitter
Subscribe to RSSIf your company is ending the year with a hearty bit of holiday cheer - rather than an actual holiday bonus – you’re definitely not alone.
More than 40 percent of companies say they do not offer year-end bonuses, gifts or other perks, according to a new poll released this week by Challenger, Gray and Christmas.
That’s a substantial increase from 2007, when just 28 percent of companies said they never offer such year-end perks.
Of course, things have changed substantially in those four years. With the nation’s unemployment rate still very high by historical standards, many companies may feel like they don’t need to give their employees extra rewards.
The lingering effects of the recession, which technically ran from December 2007 to June 2009, may also have left some employers without much extra cash left over at the end of year.
Still, more than half of the approximately 100 human resources executives surveyed said they do offer year-end perks. About half of those offering perks said they give nonmonetary gifts, while the rest said they gave some type of cash bonus to at least some employees.
The company said it did not ask whether employers offer bonuses at other times during the year.
Leave a Comment:
Bonus????? More companies are leaving the year without PAYCHECKS. Ya aint seen nothin yet. Wait till after the holidays when companies really start to shut down.
Maybe for seasonals; most companies get a whole new slew of orders for products and services after the holidays ren.
My company only rewards executives for other people's hard work. Everyone else is lucky to get a 1% merit raise each year.
Not offering bonuses, is what is keeping them from shutting down.
Actually, they're a Fortune 500 company that makes billions in profit each year.
Too true! Less than 2 wks to xmas and I am now due 6 wks pay. There will be no bonus and probably no paychecks by then either.
Forget xmas presents, I am hopeful to be able to pay my rent.
If a CEO gave back just 1 million of his pay, 500 people would get a $2000 bonus.......
but no, they really need that $25 million, that THEY, all by themselves, made
NO bonus except for the CEO, CFO, COO, CIO, etc etc.
I am fortunate to be employed as an hourly contract worker, at least through 12/23. I may or may not get extended into next year, but I am hopeful I will get extended. I also have a couple of other pokers in the fire. As someone with marketable skills in the computer industry, I am one of the lucky ones who could probably find a job within a matter of weeks. So, my bonus is that I am still currently employed, for now:)
My guess is that most of the CEO's and officers get substantial cash bonuses for "keeping costs down" by layoffs and not spending resources on something as fluffy as year end bonuses for the actual workers.
companies are giving out less bonuses, to the workers, because all the ceo's want more for themselves. and all that after they've OUTSOURCED all our jobs to china and india. if you can, find items MADE IN THE USA and buy them, even if it costs more. we need to bring the jobs back ourseles, the politicians aren't going to do it for us, neither party.
We need tarrifs NOW on Chinese goods..... so it hurts Walmart, so what! WOuld you rather be a factory worker? Or a door greeter at Walmart?
You're not gonna get any member of Congress to fu*k with China. So that door greeter is probably more like it. Wal-Mart owns Washington. 6 of the Walton family members, are worth more than the bottom 30%. They're worth 96 billion just 6 family members. With that kinda money no one in Washington, will go against them.
And look at all the jobs those waltons are providing. And I don't mean Walmart.
I can not vote, because the options are heavily towards the "Get a bonus" quiestionaire. Which means the vote was a setup.
Our company NO LONGER gives bonus' of any sort after 2008. When or company merged with a bigger company, nation wide, they said that all their store locations must share the same rules, policies and procedures.
They decided that all stores shall not receive any bonuses at all because, "All locations must adhere to the strict guidelines as set forth down by company policy." Which means one store can't get bonuses, if any other store doesn't do bonuses. So when they merged more companies under their banner, some of those business' didn't do bonuses. So what did they do? They decided every company under the flag shall not receive bonuses of any type.
Guess who did get christmas bonuses this year? That's right. The CEO board of directors, and regional CEO's for the company.
I hear that.
So accidentally throw out some inventory.
Those of us in Middle Management and the staff under us do not expect to get bonuses this year where I work. I just assume our bonuses went towards the executives company cars, their general expenses (ez-pass, lunches, gas money, etc), business trips (read: Free Vacations in Hawaii, Florida, New Orleans and Connecticut...complete BS) and all kinds of unnecessary business expenses that are almost entirely without merit.
Yeah,..it must be nice to basically not have to pay for anything outside of a mortgage while also earning a ridiculous salary and maybe showing up to the building for about 8-10 hours a week. Meanwhile, I and a lot of others are just happy to have a job at all.
We do all the work, they get all the rewards. I bet they even got a secret year end bonus that was decided upon during a closed door board meeting. I think this might be the new American Dream...simply having a job vs unemployment.
And I bet they still complain.
As I said above, staff bonuses were done away with, partners, some who make over $500,000, get bonuses and quarterly distributions up to $20,000. And they still cry poverty.
My company gave us a bonus this year. My heart goes out to those who work for companies that either stopped giving bonuses or never gave one in the first place. That totally sucks!
No bonuses for the hardworking staff, who put their hearts and soul into their work and loyalty to the company, but the partners got theirs!
You can be damn sure the CEOs and upper management got their bonuses... The people who actually do the work got the shaft. Again.
As usual the little people- the serfs won't get anything over & above thought many perform the work of 2.5 people. yet, the upper crusty ceo will waltz out to his Bentley with his multi-million dollar bonus. It's the new reality- two classes of have's versus have-nots. One class serves the other- same as it ever was.