Companies Cut Gifts, Reward Employees Instead
BOSTON (TheStreet) — ‘Tis the season for fruit baskets, cheese trays and logo-emblazoned tchotchkes.
A bellwether of the economy comes each holiday season when companies decide how much they allocate to gifts for clients, vendors prospects and employees. Holiday parties, bonuses and other seasonal boosts to worker morale are also part of the end-of-year spending plan.
Is Scrooge back on the sidelines? Not just yet, perhaps.
A recent survey of its membership by the Advertising Specialty Institute, which represents 26,000 sellers and suppliers, found that nearly six out of 10 respondents said they plan to spend about the same as last year on corporate gifts for employees and prospects or clients. Nearly one-third (31%) plan to spend less, and only 12% plan to spend more, a net decrease…