The holidays are just around the corner, and employees around the country are dreaming of holiday bonuses and gift cards from their employers. But according to this article from the Boston Business Journal
, employees and clients are likely to be disappointed this season due to a shaky economic outlook. A semi-annual survey of business owners by the American Express Small Business Monitor found that fewer small businesses plan on handing out gifts this holiday season, but those that do say they'll spend significantly more than they did last year. The survey said those businesses are also more likely to recognize staff and be focused on their company's growth.
65 percent of those surveyed said they'll feel guilty if they don't shower employees and clients with gifts, but only 59 percent say they'll act on that guilt and give in to the gift-giving spirit, compared to 70 percent last year. Employee gifting is also expected to drop from 77 percent last year to 70 percent this holiday season.