More Employees Will Take Home a Gift or Bonus this Year, BNA Survey Finds, But Will Have Less Time Off to Enjoy It

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.

Washington, D.C. (Vocus/PRWEB ) December 5, 2006 -- 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

"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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