Average New Year gift from employers rises to NIS 600-800

Senior managers received gifts worth between NIS 5,000-8,000 on average.

The distribution of Rosh Hashana gifts from employers to their staff has been taking place over the past week. Figures provided by workers committees show that employers gave out gifts worth a total value of NIS 2.6 billion - 5% more than last year. 35% of gifts were in the form of coupons redeemable at major retail outlets.

A total of 1.8 million employees received gifts, including for the first time 70,000 contract workers, who are now required by law to receive gifts.

The average gift was NIS 600-800 with senior managers receiving gifts worth between NIS 5,000-8,000 on average.

Among some of the most generous gifts received were by Israel Chemicals (TASE: CHIM) unit Dead Sea Works who received NIS 2,850 and Israel Electric Corporation (IEC) (TASE: ELEC.B22) employees received NIS 1,300.

Published by Globes [online], Israel business news - www.globes-online.com - on September 2, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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