Holiday Bonuses Reflect Bygone Era

Holiday Handouts: Holiday bonuses are a thing of the past. Nearly two-thirds of organizations will not offer special holiday or year-end bonuses to employees in 2007, continuing a trend that has grown in recent years, according to HR consulting firm Hewitt Associates. Of the 350 companies surveyed by Hewitt, 53 percent said they have never offered a holiday bonuses. About 10 percent of companies have torpedoed such measures in favor or more strategic approaches, primarily pay for performance. Companies that continue to rely on bonus programs use different forms of compensation, with 42 percent offering gift cards, edging out cash awards (41 percent) as the preferred option. One-quarter give employees seasonal food gifts, while another 20 percent allow them to select items from gift catalogs.