In the weeks leading up to Rosh Hashana and Passover, the Israeli media unwraps the presents that employees will be receiving for the upcoming holiday.
Gifts to Israeli employees in 2008
Gift package values per company:
- NIS 1050-1200 employees and pensioners of the Bank of Israel
- NIS 1000 – employees of the Nes Ziona Biological Institute
- NIS 1000 – National Insurance Institute (Bituach Leumi)
- NIS 800 – Bank Mizrachi
- NIS 600 – Telrad
- NIS 500 – El Op Systems
- NIS 400 – Teachers' Union
Bank of Israel employees buy themselves presents
TheMarker gives an example of how the bonuses are paid for. At the Bank of Israel (BoI), employees set aside up to NIS 80 per month to a Workers' Council fund, or NIS 960 per year, which is almost as much as the NIS 1050-valued gift they'll receive as you can see in the list above. However, this fund also pays for the Council's activities, Passover presents and BoI pensioners' Rosh Hashana and Passover gifts.
Although the BoI also contributes, do you think it makes sense that employees pay for their own gifts?
More gift giving trends this year
In Economic Slowdown Aside: Average Value of Holiday Presents Rises 21% to NIS 470 (Hebrew), TheMarker announces:
- 72% of Israeli companies are expected to hand out gift certificates
- 6% will offer gift packages
- 21% will give presents such as one-time salary increases or cash bonuses
- 47% are partnering with charity organizations to gather food, clothing and monetary donations
- 89% are planning on having evening parties for employees for the holidays
It's funny in a sad way how the above article uses the gift-giving as an indicator for the Israeli economy.
- 61% of employees would rather receive a free weekend for two at a hotel than the gift certificates they have coming
- Only 7% of employees will NOT need to make a special request to receive all the presents that their company is giving out
In other words, companies are giving more but their giving is almost inconsiderate of employees' desires. So why continue doing it if people won't appreciate the effort?
Happy New Year to you and your family, your friends and everyone you love
May this be your favorite year yet. Speaking of favorites- as a rollerblading nut, here's a Rosh Hashana video card that I enjoyed and hope you will too: