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Millions of businesses are ditching the traditional Christmas party in a bid to cut costs, according to new research among 2,532 business managers, commissioned by table7.com, the online booking service provider. 40% are planning to do away with the celebration altogether.
Lack of budget, the need to cut corners and recent redundancies are just some of the reasons why many employers won't be getting merry with the staff this Christmas.
But there will be disappointment for workers, as half of the bosses have yet to break the news to their staff.
And for those who are going ahead with festive celebrations, 44% still intend to cut corners where possible by having a less lavish bash than normal.
Moses Hassan of table7.com commented "the results show that companies everywhere are making some tough decisions when it comes to their festive parties."
"It seems bosses are cutting or reducing the scale of parties, and are trying to find the balance between an over the top affair and a well-earned celebration."
"It is a shame as many staff might not be getting the Christmas party they are expecting or feel they deserve."
Top 10 Christmas party cut-backs
• Skip the sit down meal in favour of a buffet.
• Have a lunchtime meal instead of an evening meal.
• Take employees to the local pub rather than a high end restaurant out of town.
• Choose a venue where the price list is lower than usual.
• Only have two courses instead of three.
• Choose a set menu so you don't incur any unexpected costs.
• Pay for dinner but skip all form of entertainment.
• Hold the office party in the office, rather than at another venue.
• Tell staff they have to pay for their own taxi home.
• Opt for sparkling wine rather than champagne.
Hassan added "bosses are in a really difficult position this Christmas, as they will be weighing up the morale and happiness of their employees against the financial constraints of the business."
"It won't come as any surprise to learn that workers will feel more productive, happier in the workplace, and more appreciated if they are treated to a nice meal at the end of a busy year. It is a great way for bosses to show that while they might not be able to shower everyone with pay rises or promotions, they do value the efforts of their staff."