Businesses Increase Budgets for Holiday Parties this Year

How will holiday cheer be spread in workplaces this season? According to new research from staffing firm OfficeTeam, 93 percent of senior managers said their company will be hosting year-end festivities. Of those who noted holiday activities are taking place, respondents identified off-site and on-site parties (48 percent each) and office decorations (45 percent) as the most common plans.

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When it comes to seasonal soirees, 41 percent of organizations are planning to spend more this year, and only 7 percent anticipate cutting costs. Does that mean workers have to make an appearance at these events? No matter what the budget, 66 percent of managers indicated there’s an unwritten rule employees should attend.

To Give or Not to Give?
Many professionals are in the holiday giving spirit: More than half of workers (58 percent) hand out year-end presents in the office; half of those employees provide gifts to colleagues, and 35 percent give one to their boss. The research suggests professionals are eager to take on the role of Santa’s helper: 84 percent of workers who give out holiday presents do so because they want to, not because they feel obligated.

Among the 28 U.S. cities in the survey, San Diego, Miami, San Francisco and Chicago have the most gift-giving employees, while Seattle, Cleveland, Minneapolis and Denver have the fewest.

“Hosting holiday parties is a great way to recognize employees for their hard work throughout the year,” said Stephanie Naznitsky, executive director of OfficeTeam. “Celebrations don’t have to be elaborate to be enjoyable. Companies that go the extra mile to plan meaningful events that bring teams together will be rewarded with higher engagement.”

Naznitsky’s advice for employees? “While making an appearance at the holiday party is usually a good idea, gift-giving is optional. If you plan to offer someone a present, know that your thoughtfulness counts more than the price.”

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