Start by peeling the shallots and trimming the roots while keeping them whole for even cooking. Chop the bacon into bite-sized pieces.

In a large skillet over medium heat, add the bacon and sauté until crispy, about 6-8 minutes. Remove and drain on paper towel, leaving the fat in the skillet.

In the same skillet with the bacon fat, add butter or olive oil. Sauté the shallots until golden brown and tender, about 8-10 minutes.

Pour in honey, balsamic vinegar, and Worcestershire sauce over the shallots, stir, and let simmer for 3-4 minutes until the glaze thickens.

Return the crispy bacon to the skillet and mix well. Taste and adjust seasoning, then let rest before serving.