More Employees Will Take Home a Gift or Bonus this Year, BNA Survey Finds, But Will Have Less Time Off to Enjoy It
December 05 2006 - 9:00AM
Business Wire
With the holidays around the corner, a new survey conducted by BNA�
and sponsored by Kronos� Incorporated (Nasdaq: KRON) finds that
more employers will give staff gifts and bonuses this holiday
season. At the same time, fewer plan to extend the holidays by
granting three or more days of paid leave. This continues a
long-term downward trend in paid time off at year's end. For more
than two decades, BNA�s Year-End Holiday Practices Survey has
offered an annual snapshot of companies� plans for marking the
year�s end and recognizing employees� contributions with benefits
like paid time off, special holiday work schedules, holiday parties
and celebrations, employee gifts and bonuses, and holiday charity.
This year�s results are based on the responses of human resources
executives representing 214 U.S. employers. �This is the time of
year when companies make special efforts to recognize and thank
their employees,� said BNA Research Director Joshua Joseph. �Many
employers perceive these year-end gestures � bonuses, gifts,
collegial celebrations, and time off during the holidays for
community service � as part of a broader program to attract and
retain top talent.� Survey highlights include: More employers plan
to give year-end gifts and bonuses in 2006. Buoyed by a strong
economy, nearly half of surveyed employers (49 percent) will give
employees holiday gift items or cash awards and bonuses this year.
This represents an increase over 2005 (40 percent) and is the
highest figure reported in the survey�s 25-year history. As in
years past, employers are about as likely to recognize managers as
nonmanagement employees with gifts and bonuses. Paid time off at
Christmas and New Year�s grows shorter, regardless of the calendar.
Although the likelihood that companies will give extra time off in
December varies from year to year with the changing calendar,
longer-term trends show a steady decline in paid holiday leave over
the past two decades, no matter where the holidays fall. This year,
with Christmas and New Year�s falling on Mondays, fewer employers
are giving workers three or more paid holidays (43 percent) than in
comparable years� 2000 (49 percent), 1995 (47 percent), and 1989
(60 percent)�when these holidays also fell on Mondays. Similar
trends are found almost across the board for other comparable
years. Most employers will still grant two paid holidays at year
end. As is traditional, nearly all employers will give the standard
days off for Christmas (98 percent) and New Year�s (94 percent)
this holiday season. Manufacturing establishments are among those
most generous in granting paid holiday leave. More than eight in 10
manufacturing firms (82 percent) will provide at least three paid
holidays during the Christmas and New Year�s season, far exceeding
figures reported by nonmanufacturing/services organizations (33
percent) and nonbusiness establishments (28 percent). Most
organizations that sponsor company-wide events will pick up the
full tab. Planned spending on parties also rises. Fully 83 percent
of employers sponsoring holiday parties in 2006 will pay the full
cost of the event, the same as reported in 2005 (83 percent).
Median spending on company-wide parties has rebounded in 2006
($7,000) after a dip in 2005 ($5,000). This translates to median
party spending of $36 per employee, up slightly from the 2005
figure ($35 per employee). Fewer organizations will participate in
charitable activities this holiday season. Charitable giving and
volunteer activities are important ways that companies and their
employees connect with outside communities. This holiday season, 66
percent of surveyed employers plan to take part in one or more
charitable activities�toy, food, or clothing collections, corporate
monetary donations, volunteering, and others. This figure is down
from 2005 (72 percent), but in line with results from 2004 (69
percent). �No one wants to work for Ebenezer Scrooge,� said Kronos
senior executive Stuart Itkin. �The holidays are an important time
for organizations to show their employees that they are appreciated
by showering them with parties, paid time off, and bonuses. Even
more, it�s just good business. A happy employee is a more
productive employee, and that is priceless.� Survey data were
collected from Oct. 3 through Nov. 2, 2006 using a Web-based
questionnaire. A total of 214 employers represented by human
resource executives participated. Of these, 24 percent were
manufacturing firms, 38 percent were nonmanufacturing companies,
and 38 percent were nonbusiness entities, such as government
employers, hospitals, educational institutions, and other
nonprofits. Seventy-eight percent of the participating
organizations employ fewer than 1,000 workers, while 22 percent
have workforces of 1,000 or more employees. Nonunion establishments
make up 80 percent of the survey sample, while the remaining 20
percent employ at least some union-represented workers. A video
presentation of the survey results can be accessed from:
www.bna.com/holiday2006/thanks.htm From this site, viewers may
download a free copy of the full report. BNA is a leading publisher
of print and electronic news and information for professionals in
business and government. BNA produces more than 300 news services,
including the highly respected Daily Labor Report and Daily Report
for Executives. Visit BNA online at www.bna.com Kronos Incorporated
empowers organizations around the world to effectively manage their
workforce. At Kronos, we are experts who are solely focused on
delivering software and services that enable organizations to
reduce costs, increase productivity, improve employee satisfaction,
and ultimately enhance the level of service they provide. Kronos
serves customers in more than 50 countries through its network of
offices, subsidiaries, and distributors. Widely recognized as a
market and thought leader in managing the workforce, Kronos has
unrivaled reach with more than 30 million people using a Kronos
solution every day. Learn more about Kronos at www.kronos.com. With
the holidays around the corner, a new survey conducted by BNA(R)
and sponsored by Kronos(R) Incorporated (Nasdaq: KRON) finds that
more employers will give staff gifts and bonuses this holiday
season. At the same time, fewer plan to extend the holidays by
granting three or more days of paid leave. This continues a
long-term downward trend in paid time off at year's end. For more
than two decades, BNA's Year-End Holiday Practices Survey has
offered an annual snapshot of companies' plans for marking the
year's end and recognizing employees' contributions with benefits
like paid time off, special holiday work schedules, holiday parties
and celebrations, employee gifts and bonuses, and holiday charity.
This year's results are based on the responses of human resources
executives representing 214 U.S. employers. "This is the time of
year when companies make special efforts to recognize and thank
their employees," said BNA Research Director Joshua Joseph. "Many
employers perceive these year-end gestures - bonuses, gifts,
collegial celebrations, and time off during the holidays for
community service - as part of a broader program to attract and
retain top talent." Survey highlights include: -- More employers
plan to give year-end gifts and bonuses in 2006. Buoyed by a strong
economy, nearly half of surveyed employers (49 percent) will give
employees holiday gift items or cash awards and bonuses this year.
This represents an increase over 2005 (40 percent) and is the
highest figure reported in the survey's 25-year history. As in
years past, employers are about as likely to recognize managers as
nonmanagement employees with gifts and bonuses. -- Paid time off at
Christmas and New Year's grows shorter, regardless of the calendar.
Although the likelihood that companies will give extra time off in
December varies from year to year with the changing calendar,
longer-term trends show a steady decline in paid holiday leave over
the past two decades, no matter where the holidays fall. This year,
with Christmas and New Year's falling on Mondays, fewer employers
are giving workers three or more paid holidays (43 percent) than in
comparable years-- 2000 (49 percent), 1995 (47 percent), and 1989
(60 percent)--when these holidays also fell on Mondays. Similar
trends are found almost across the board for other comparable
years. -- Most employers will still grant two paid holidays at year
end. As is traditional, nearly all employers will give the standard
days off for Christmas (98 percent) and New Year's (94 percent)
this holiday season. -- Manufacturing establishments are among
those most generous in granting paid holiday leave. More than eight
in 10 manufacturing firms (82 percent) will provide at least three
paid holidays during the Christmas and New Year's season, far
exceeding figures reported by nonmanufacturing/services
organizations (33 percent) and nonbusiness establishments (28
percent). -- Most organizations that sponsor company-wide events
will pick up the full tab. Planned spending on parties also rises.
Fully 83 percent of employers sponsoring holiday parties in 2006
will pay the full cost of the event, the same as reported in 2005
(83 percent). Median spending on company-wide parties has rebounded
in 2006 ($7,000) after a dip in 2005 ($5,000). This translates to
median party spending of $36 per employee, up slightly from the
2005 figure ($35 per employee). -- Fewer organizations will
participate in charitable activities this holiday season.
Charitable giving and volunteer activities are important ways that
companies and their employees connect with outside communities.
This holiday season, 66 percent of surveyed employers plan to take
part in one or more charitable activities--toy, food, or clothing
collections, corporate monetary donations, volunteering, and
others. This figure is down from 2005 (72 percent), but in line
with results from 2004 (69 percent). "No one wants to work for
Ebenezer Scrooge," said Kronos senior executive Stuart Itkin. "The
holidays are an important time for organizations to show their
employees that they are appreciated by showering them with parties,
paid time off, and bonuses. Even more, it's just good business. A
happy employee is a more productive employee, and that is
priceless." Survey data were collected from Oct. 3 through Nov. 2,
2006 using a Web-based questionnaire. A total of 214 employers
represented by human resource executives participated. Of these, 24
percent were manufacturing firms, 38 percent were nonmanufacturing
companies, and 38 percent were nonbusiness entities, such as
government employers, hospitals, educational institutions, and
other nonprofits. Seventy-eight percent of the participating
organizations employ fewer than 1,000 workers, while 22 percent
have workforces of 1,000 or more employees. Nonunion establishments
make up 80 percent of the survey sample, while the remaining 20
percent employ at least some union-represented workers. A video
presentation of the survey results can be accessed from:
www.bna.com/holiday2006/thanks.htm From this site, viewers may
download a free copy of the full report. BNA is a leading publisher
of print and electronic news and information for professionals in
business and government. BNA produces more than 300 news services,
including the highly respected Daily Labor Report and Daily Report
for Executives. Visit BNA online at www.bna.com Kronos Incorporated
empowers organizations around the world to effectively manage their
workforce. At Kronos, we are experts who are solely focused on
delivering software and services that enable organizations to
reduce costs, increase productivity, improve employee satisfaction,
and ultimately enhance the level of service they provide. Kronos
serves customers in more than 50 countries through its network of
offices, subsidiaries, and distributors. Widely recognized as a
market and thought leader in managing the workforce, Kronos has
unrivaled reach with more than 30 million people using a Kronos
solution every day. Learn more about Kronos at www.kronos.com.
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