The Death of Office Perks for the Little Guy

Gifts Are Gone

Companies used to raffle off items to their top-performing employees. Big-screen TVs or trips to Jamaica or Cancun were given away. Now, Roeser said, he is seeing more creative but cheaper rewards such as an extra day or two off.

Executive search firm Battalia Winston has been doing a Christmas party survey since 1988.

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Dale Winston, chief executive of the New York-based firm, said that holiday parties are at an all-time low this year with 81 percent of the companies surveyed holding one.

"I don't think the word this year is celebration," she said.

Some companies wanted to eliminate or scale back parties but already had their contracts in place before the financial crisis escalated.

Winston is also seeing a lot of lunch-hour parties and also the implementation of cash bars. But those cuts are not as much about the economy but to "make people drink responsibly."

Many companies long ago did away with family picnics, leaving the holiday party as the only time for corporate socialization.

"This is the one time to bring all levels of employees together in a social setting," she said. "Therefore, I don't think companies want to do away with that. They just want to reflect the mood of the country. And the mood of the country right now is uncertain."

"The Grinch won't steal Christmas," Winston said. "He'll just make it a little less prosperous."