Recession hits Pessah gift vouchers

Employees in hi-tech, financial-service sectors to feel the pinch.

March 30, 2009 09:07
1 minute read.
Recession hits Pessah gift vouchers

pessah good 88 224. (photo credit: Courtesy)


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Employees in the hi-tech and financial-services sectors can expect smaller Pessah gift vouchers this year than in the past, according to surveys by the JobMaster Web site. "Israelis consider holiday gifts as a sign of appreciation by their employers," said Shai Chen, JobMaster's marketing and business development manager. "The majority of employers are aware of their importance to employees and their families. Therefore the majority of employers try to hurt employees as little as possible. "The surveys show that the value of holiday gifts has been affected the most in the sectors that have been affected most by the economic crisis, namely the hi-tech and the financial-capital market." The JobMaster surveys were carried out among 1,000 employers before last Pessah and during the same period this year. They indicated that 46 percent of hi-tech companies and 23% of financial-services businesses that had given vouchers worth NIS 750 to NIS 1,000 last year will give less this year. On the upside, companies in the retail and communications sectors that had given vouchers worth NIS 200 to NIS 500 last year will give more this year. The surveys found that 9% of employers will give Pessah gift vouchers worth NIS 750 to NIS 1,000 to their employees this year, compared with 14% last year. At the same time, 31% of employers will give Pessah gift vouchers worth NIS 200 to NIS 500, compared with 24% last year. The surveys found there was no change from last year in the proportion of employers who will give Pessah gifts worth NIS 500 to NIS 750.

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