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Fewer Brits will be dancing on desks, making inappropriate photocopies and sharing mince pies with their colleagues this festive season. A recent YouGov poll found that only one out of every four offices in the UK plans to throw a Christmas party this year. Some firms simply cannot afford such festivities in the current climate. Others feel that splashing out on a lavish party would be improper, given the wave of redundancies, pay freezes and bonus cuts that has swept across the country. That amount of cash could safeguard a couple of people’s jobs or provide a well-merited thirteenth cheque for the firm’s most valued members of staff. Only 29% want to attend their office parties If given the choice in these uncertain times, many employees would choose a slightly fatter pay packet over an office party. This is not only due to the prospect of extra cash. The silly season can be tiresome, with party after party to attend. The last thing some people feel like is spending their precious free time making small talk with colleagues they are forced to share an office with every day. According to the YouGov study, only 29% of over 2,000 respondents actually wanted to celebrate Christmas with their colleagues this year. Spreading festive cheer On the other hand, company functions can be good for boosting employee morale. They provide employers with an opportunity to reward staff for their loyalty and thank them for all the hard work they’ve put in during the year. These types of events also give co-workers a chance to let their hair down, get to know each other in a less structured environment, and build friendships that could make office life more enjoyable in the new year. Work functions have economic benefits too. According to research commissioned by lastminute.com, the office parties that are going ahead this year are expected to contribute more than £450 million into the UK economy. Cutting back this Christmas Perhaps the answer is not cancelling the end-of-year function altogether, but rather opting for a more modest affair. Mark Sudich, a director at functions company Uptown Events, told Metro.co.uk that more companies are cutting back on entertainment expenses this year. "There's a big push within the events industry for people to have their parties, but people aren't splashing out in the way they would have done,” he said. Instead of renting a posh venue and treating the whole company to a three-course dinner, some cost conscious firms are taking smaller teams to lunch at a local restaurant. Employees are contributing this year Another solution that many employers seem to be adopting is to ask their workers to chip in. According to the YouGov poll, of those who said their companies would be going ahead and having a Christmas party this year – as many as one in six said they had been asked to contribute to the budget themselves. Even investment banking jobs no longer guarantee free champagne and canapés at the end-of-year function. Employees at Goldman Sachs have been asked to pay their way this year, despite the fact that their firm recently announced a healthy profit. "This year things have been more modest," a spokesperson for the bank told the Independent. "Now it's at each member's personal expense.” With the financial pressure British firms have been under this year, many will be reluctant to spend money on an extravagant office party. However, there are still ways for employers to spread festive cheer in the office, even if it means asking staff to contribute to the event budget themselves. With Careers and Jobs, you can view all the latest jobs, browse UK jobs by sector, including banking jobs, and keep up to date with the latest UK jobs news. You’ll also find expert career advice and help with CV writing to help land that dream job.
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