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« Are Workplaces Getting More Religious? | Main | ‘Hurray for Snow Days?’ Asks This Mom »

December 05, 2006

Is Your Employer a Scrooge?

My shuttle bus ride into work today provided a full range of holiday and year-end bonus stories. One rider said her employer will be giving employees the whole week off -- with pay -- between Christmas and New Year's. She noted this put the US offices at par with ones in the UK, which always close for that period.

Another remembered the time-honored tradition of a holiday turkey (the actual bird, not a discount coupon) at a large local tech employer: "They had hundreds of them lined up on tables. You just came down and picked one up." A third rider noted that sort of cheery paternalism seemed to have gone the way of the buggy whip -- and the Christmas bonus. His employer had no year-end or holiday bonus tradition whatsoever beyond a catered lunch and ad hoc department parties.

Commentators and surveys differ markedly this year on the prevalence of special year-end compensation and holiday celebration. The Christian Science Monitor noted the "Vanishing Holiday Bonus" despite record profits in many business sectors this year. Instead, firms are moving to performance-based pay. The poster child for that policy is Wall Street, where one UK site notes in its newsletter the top five US firms will have a combined bonus pool of about $36 billion to share among a total of 173,000 staffers. That's about $209,000 each -- not that it's likely to be split on a "share and share alike" basis.

On the other hand, a BNA/Kronos employer survey released today says a record number of firms will give bonuses this year but paid time off will be reduced.

So what's the story at your employer? Scrooge the penny-pincher or Scrooge the munificent? Leave a comment below with your holiday bonus tale.

Just in case, here are a few resources that can help no matter which kind of employer you have:

And to survive holiday celebrations:

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Posted by Ryck on December 5, 2006 at 12:44 PM in Current Events , The Daily Grind | Permalink | Comments (11) | TrackBack (0)

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Comments

As the recipient of the whole Christmas week off, I can say that it not only results in increased loyalty towards my employer, but a decrease in sloppy mistakes due to my being stressed by hectic holiday preparations.
The Good Will towards all will last well into 2007!

Posted by: Mary | Dec 5, 2006 2:01:12 PM

There are several reasons why I work for the company that I work for including:
- 4 weeks paid vacation
- the week between Xmas and the New Year off (also paid)
- additional stat holidays so that we have a long weekend each month
- and profit sharing (paid at the beginning of December to help with the holiday bills).

Go to work for a big, faceless corporation? No way! I'll stay here working for a small, locally owned company.

Posted by: Kimberley | Dec 6, 2006 12:04:21 PM

The timing could not have been worse but my company decided to lay me off right before the holiday season had even started. I had been with the company for over six years and they just dumped me. I felt that I was kicked in the teeth and had my heart ripped out.

The company's justification was that revenues were not high enough and that a change was needed, i.e. laying me and another person off (this person was with the company longer that I have). They felt that laying me off before the holidays would be better than doing so afterwards.

This occurred one week before Thanksgiving and the shock of it all is wearing off. Now I am faced with the task of finding a new job at the worst time of the year.

My co-workers could not believe it either. They all know how much of a hard worker I am and how I was always there for the company. Unfortunately, I learned that the company would not be there for me. Such is life in this new corporate world.

For those of you who do have job security and work for caring companies, I salute you. However, what they say is also true that anybody can lose their job at any time due to downsizing.

I am trying to not let this put a damper on my Holiday spirit but it will not be easy. I know that things will work out in the end somehow.

Happy Holidays to all!

Posted by: Lem | Dec 6, 2006 2:12:15 PM

I too was layed off just before the holidays. The company I worked for says that it does not have enough work for my position so they let me go. WHAT A CROCK!
I was the only person that did my Job. but anyways Happy Holidays all and Merry Christmas!!!!

Posted by: Jim | Dec 7, 2006 10:49:16 AM

yes,I work for one of those faceless life sucking corporations. I recieved a holiday thanksgiving bonus consiting of a grocery store gift card for $18. They won't give any other holiday bonuses because of their secular nature. The company is british if that means anything. I have worked for them for 9 years and although others working inside the company have praised my work, NO ONE in any upper management position has said anything positive towards me. So far I have kept up my positive attitude. My wife wonders why I continue to work for them. The pay? no. the lack of accolades and bonuses? no. Now I wonder why I stay. I am taking my positive attitude and going looking for another job NOW!

Posted by: busjoe | Dec 8, 2006 7:45:06 PM

My boss stiffed me out of my November paycheck ("You'll get it at the end of December, and you'll get the December check at the end of January.") Then he had the nerve to hold my holiday bonus (about 1 week's pay) until the very last day before the winter break. He was astounded that I wasn't gateful for receiving this generous bonus, just because I didn't get my paycheck.
Merry Christmas, ScroogeBob, Squarehead.

Posted by: Tina | Dec 17, 2006 12:58:20 PM

My last job (a big international company) paid less than the going rates for employees but had good bonuses. They even gave them to new employees. It was great. Most often it was a full paycheck plus either more time off or $1k. Although I always appreciated it, I think I still took it for granted.

My new employer just sent out bonuses and even though I am considered upper management my bonus was $75 and my assistant received $50. It's hard to try and soothe the ill feelings of the rest of the ranks when everyone knows the executive team all received large raises this year. I wish they would just understand that all anyone wants to know is that they are appreciated -- it's more about that than any amount of money.

Posted by: Bramble | Dec 17, 2006 10:36:35 PM

It's bonus time on Wall Street. In the face of such wretched excess, a little retrained haiku seems appropriate:

Is bonus too fat?
Winter brings joy to bankers;
Bleak looks from the crowd.

Posted by: haikuman | Jan 1, 2007 10:58:14 PM

The first year I worked for one company they gave out a christmas bonus of which I paid for all our gifts that year. It was not a big check, but was highly appreciated. You could hear the pins drop the following year when a faceless corporate cheapskate decided to heave ho the bonus. Its in an industry where profits are in excess of 40 cents per dollar of revenue. They always plead poverty, always.

Posted by: nightowlman | May 1, 2007 3:28:53 AM

Actually you missed other great post.
2006 Wall Street Bonus Survey at

www.wsren.org/career

Posted by: Ligle | May 27, 2007 8:59:56 AM

I've been working for my company for 5 years. We were bought out by a larger company. Now they are keeping 1 weeks pay regardless of the date you started. I know I started right before the new pay period so according to my calculations my pay is correct if anything, I don't owe them more than a day or two back. They are stating that they are paying us one week in advance so now they want to keep a week of our pay. Where can I go for help with this? All of my fellow employees feel the same way. The only ones that are not affected are the salaried employees.

Posted by: Rich | Oct 14, 2007 8:54:01 PM

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