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Managers can take steps to boost morale and jump-start employee engagement. In down economies, however, you can get creative with your holiday gift idea or you can get stupid - or you can get creatively stupid. "A larger chunk of the small business population has started to think creatively about how to do things without necessarily spending a lot of money," says Alice Bredin, small business adviser to American Express OPEN Small Business Holiday Monitor. Read more from this and other studies below...
Playing it Smart
Only 31% of business owners plan to give year-end bonuses this year, down from 44% last year, according to an American Express OPEN Small Business Holiday Monitor, a survey of about 500 business owners. Only 16% will give raises versus 30% in 2008. Vicinity Media Group, a publishing company in Fairfield, N.J., is having a joint holiday party with other small businesses this year. CEO David Black purchased tickets for his 19 employees to attend a "Bring Your Own Business" party that will be hosted by Jersey Street Furniture Rental, a party decor company in West Orange, N.J.
Dumbing It Down
Online retailer Stupid.com has released its third annual list of the stupidest gifts, gadgets, presents and stocking stuffers that can be found around the globe for that top-performing employee who already has everything. "Nothing relieves the tension of a tough year better than a good laugh," says Stupid.com President Jim Kalmenson, adding that 5,000 gag gifts were reviewed to come up with the final 10. Topping this year's list: a swine flu recovery kit, life vests for golf balls, Freudian slippers and a beer pager that belches with the click of a remote for those who frequently forget where they set down their brewskies. Editors Note: It's difficult if not impossible to find the list of top 10 stupid gifts on Stupid.com itself. If you just want to see the rundown of the top 10, we found it on the KyivPost.com, which is billed as "the Ukraine's leading English-language newspaper since 1995." (I know, go figure.)
Getting Workers to Work This year, it seems one of the best holiday gift ideas could be cutting your employees some slack.
A separate study by consulting firm Watson Wyatt and HR association WorldatWork shows that economy-induced cost-cutting has contributed to a sharp decline in the morale, commitment and job satisfaction of employees - especially among top performers. Suggestions for minimizing unscheduled absences and for boosting sluggish productivity include:
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