Tuesday, November 16, 2004

Scrooged

Pay-for-performance compensation is helping speed the demise of the Christmas bonus.

Human-resources consultant Hewitt Associates in Lincolnshire says nearly half of companies it surveyed have never offered a holiday bonus. Another 16 percent have dropped bonuses, most of them since 2000. "Many companies are telling us they're shifting resources from the symbolic type of bonus to something that follows how the company has been performing," said Ken Abosch, who manages Hewitt's talent consulting practice.

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