Incentive - December 2008 - (Page 10) HEADLINES Office Holiday Parties Tone Down for 2008 BY ALEX PALMER M any companies, concerned about both their budgets and how the public perceives them, are skipping elaborate holiday parties this year in favor of something more low-key, or in some cases, nothing at all. Company-sponsored holiday celebrations will hit a 20-year low in 2008, according to an annual survey from the executive search firm Battalia Winston Amrop. In its survey of 108 companies, 81 percent say they will host parties this year, compared with 85 percent in 2007. Financial services giants Morgan Stanley, Citigroup and American Express have all canceled their company-sponsored holiday parties for this year. But besides these heavyweights, many other companies are reporting the same sorts of cutbacks. Representatives of Orlando, Fla.–based law firm GrayRobinson announced that it will be suspending its annual client holiday party (which last year attracted 2,000 guests) and instead will be donating $150,000 to charities such as the Second Harvest Food Bank and the American Red Cross. According to the Battalia surIncentive vey, 37 percent of companies say that their party has been impacted by the economy (nearly double the 19 percent that gave the same reply last year). But while many companies may be scuttling their party this year, many more believe that it would be a mistake to remove what they see as an important morale-boosting event. “Although we did think about cutting the holiday party from this year’s budget, after careful consideration, we decided that it would be in our best interest not to cancel,” says Zelda Freud, HR manager for New York–based public relations firm RFBinder. “A holiday party is a great way to reward employees for their hard work and dedication, and to boost company team spirit.” Freud’s team found that making some adjustments—such as holding the party on a Thursday evening instead of a Friday night and using an iPod connected to the venue’s sound system instead of a professional deejay—made for significant savings without impacting the benefits of the holiday gathering. This is similar to the approach that Web media company findingDulcinea has taken with its holiday party. According to the company’s CEO, Mark Moran, it puts the emphasis on teambuilding rather than extravagance— last year the company of about 20 played board games with modest refreshments, and expect to do something similar this year. “I don’t know what causes a company in the first place to believe that a glitzy, outrageously expensive holiday party is going to boost employee morale,” says Moran. “If a company has traditionally had a lower-key affair that actually involved some thought and resulted in teambuilding, then I think it should be viewed as a worthy expense.” For more on cutting the budget, but not the fun at your holiday party, visit The Incentive Editorial Advisory Board • Ira Almeas, President, Impact Incentives and Meetings • Michael Arkes, President and CEO, Hinda Incentives • Dennis O. Borst, President and COO, Patriot Marketing Group • Bill Boyd, President and CEO, Sunbelt Motivation and Travel • Karen Eglitis, Unit Business Manager, Premium & Incentive, Bose Corp. • Gail Fitzgerald, Vice President Hotel Sales & Marketing, CityCenter Las Vegas • Chris Flatt, Executive Vice President Hotel Sales & Marketing, Wynn Las Vegas • Adrienne Forrest, Assistant Vice President, Special Markets, Bulova Corp. • Dick Gaeta, President, Premier Incentives • Steve Lowe, Director of Sales, Harrah’s & Harveys Lake Tahoe • Terry Markwart, Director & Assistant General Mgr. of U.S. Sales, Canon USA • Art Masarky, Senior Director, Human Resources, Heineken, USA • Cindy Mielke, Manager, National Accounts, Marketing Innovators • Anne Platt, Director, Gift Card Services, Best Buy • Rodger Stotz, Vice President, Managing Consultant, Maritz Incentives • Patrick Sullivan, President, PRA Destination Management New York • Jon Von Rentzell, Vice President, Recognition and Rewards, Carlson Marketing • Joe Zanone, Senior Vice President, Movado Group Inc. INCENTIVEMAG.COM/ HOLIDAYHUMOR 10 | | December 2008 | incentivemag.com http://www.incentivemag.com/holidayhumor http://www.incentivemag.com/holidayhumor http://www.incentivemag.com
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