Christmas bonus Scrooged

Hard work is its own reward

The times have been tough out there for small business owners. Not many of them will be giving gifts or cash to their workers in 2009. There is expected to be a cut back in what managers give out as well.

The usual Christmas bonus may not be so generous this year as owners and managers are taking cuts. If the profits are down then there is not as much extra to spend so owners will give fewer gifts or cash to their employees.

Managers may not be as willing to share in their bonus structure. Some of the perks have been cut off this year and not all managers are going to share their annual performance bonus with the staff.

Last year we saw a drop in the number of companies that gave out a year-end bonus. This year the numbers will likely drop again. Holiday gifts will be fewer and/or cheaper for employees. The customer is still going to get something as this is seen as good marketing but this gift will be a bit smaller this year.

The good news is that most employees will still receive paid time off for the holidays. Many companies will be granting an extra half day on Christmas and New Year's Eve.