More companies giving extended holidays for Thanksgiving

DENVER BUSINESS JOURNAL - Is the Friday after Thanksgiving a paid day off at your company? For more and more workers, it is.

According to a Bloomberg BNA survey, 99 percent of employers plan to give paid time off to all or most of their workers on Thanksgiving Day itself, and 80 percent plan to do the same for the Friday after Thanksgiving this year, too. That’s up from 71 percent that granted that Friday off to most or all of their workers three years ago.

The survey notes that the number of employers granting two paid days off for the Thanksgiving holiday is at its highest point in a decade and a half and, on the flip side, the number of employers requiring at least some workers to work on Thanksgiving Day is near its low point over the same time period. Furthermore, about 22 percent of employers said they plan to give workers some sort of Thanksgiving gift — whether food or something else — which while down slightly from last year is higher than the established norm since 2002.

While it may seem intuitive for some businesses, especially retailers, to be open some hours on Thanksgiving, some are deciding it simply isn't worth it to open on the holiday. Melody Wright, COO of Von Maur, a Midwestern retail chain with 31 stores, told Dan DeBaun of the Minneapolis / St. Paul Business Journal, "Now that you’re starting to see some retailers back away from being open on Thanksgiving, I think it goes back to the fact that it wasn’t profitable for them. It probably increased their payroll cost and it was probably a disaster in terms of employee morale. In the end it didn’t really do anything except move the sales around from one day to the next."

Read more at the Denver Business Journal: http://bizj.us/1oyid6

(© 2016 American City Business Journals. All rights reserved.)
 


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment