Office holiday party: More companies skip it

By Aaron Smith, staff writer


NEW YORK (CNNMoney.com) -- Companies are pulling the plug on holiday parties, which are heading into their slowest season since at least the 1980s, according to a survey.

Only 79% of businesses will hold a holiday party in 2010, the worst turnout since Amrop Battalia Winston began conducting its annual survey 22 years ago. The rate is lower than the 81% participation rate seen in 2008 and 2009, in the middle of the recession, the survey said.

The holiday party slump isn't so much about budget-conscious belt tightening. It's more of a matter of perception during troubled times. The survey said that 27% of respondents who aren't throwing a party say it isn't in their budget, while 55% "don't think it's appropriate in these economic times."

"People are just not in the mood to celebrate," said Dale Winston, chief executive of Amrop Battalia Winston. "We've got a jobless recovery and the economy is in the highest state of unemployment, probably in our lifetimes."

Also, fewer corporations are willing to pay for non-employee guests, such as spouses, friends or clients. Some 69% of companies are implementing an employee-only policy on the parties, compared to 52% in 2006..

Of the companies that are throwing holiday parties, 37% said it was to celebrate a good 2010, 33% said it was to boost employee morale, and 29% said it was to show clients and employees that they're optimistic about 2011.

Companies are becoming less generous in other ways this year and charities are feeling the squeeze. Only 47% companies are donating to charities this year, compared to 66% last year and 74% the year before.

But more companies will serve alcohol at their holiday parties, with 79% allowing booze in the 2010 season, compared to 73% in 2009 and 71% in 2008, the survey said. But it's still far below the peak of 90% that was achieved in 2000.

"Alcohol sales usually go up in a recession, so it's consistent with the economic outlook," said Winston. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Sponsors

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.