Traditional Christmas bonuses disappearing

More organizations opting for more time off work with pay
||Last Updated: 02/25/2003

Is your organization handing over a nice fat cheque in the form of a Christmas bonus this year? If so it’s in the minority as only 19 per cent of Canadian employers are providing cash bonuses this holiday season — ranging from about $50 to $700 or more according to Watson Wyatt, a Toronto-based management consulting firm.

But just because the Christmas bonus is headed the way of the Dodo bird, it doesn’t mean corporations are losing their holiday cheer. Almost 70 per cent of companies still organize a dinner and dance for their employees, but in most cases the employees pay their own way.

So what’s replacing cash as the fashionable way to reward staff during the holidays? Time off work. About 31 per cent of companies said they plan to give staff extra time off, with pay, with the amount of time ranging from half a day to seven days.