Company holiday parties are not just about celebrating good fortune. They are a way for companies to show employees how much their hard work is appreciated.
It is also the time for employees to get involved in their company on a personal level. Those who know how to “work the party room” could seriously boost their career potential.
Many companies in this stingy economy remain cautious when it comes to spending. Evidence of this is in a new survey showing that fewer companies are planning holiday parties this year and, among those that are, nearly one in three is budgeting less for the event.
Data show that 62 percent of companies are planning holiday parties this year, down from 77 percent in 2008. In 2007, 90 percent of companies surveyed were planning holiday parties.
*Party cheap and quiet*
At companies that are planning holiday parties, the theme is likely to be low profile, low budget. About 64 percent of companies are spending the same as last year and 28.5 percent are spending less – 10 percent to 20 percent less, on average – than they did a year ago.
More than half of the employers holding parties are reportedly having it on a workday or near the end of a workday (57 percent), while nearly two-thirds are inviting employees only (65 percent). A total of 56 percent are using a caterer or outside service compared to 69 percent last year.
*Manager can move you up*
Although the holiday party could be filled with pitfalls, such as over-imbibing or getting a little too “flirty,” it also offers great opportunities, such as socializing with senior executives that employees might never interact with in the office. It is smart to make an effort to break away from your comfort zone and introduce yourself to those corporate decision-makers who might help your career.
For employers, there is significant risk associated with hosting such events, especially when they include alcohol. There are also legal risks associated to the increased potential for sexual harassment claims.
For employees, now is not the time to draw attention to oneself with embarrassing conduct at the holiday party, particularly at a time when everyone’s job is at risk of being downsized.
However, employees should not simply stand in the corner in an effort to stay off the radar. It is equally important to remember that these events also offer great opportunities, such as socializing with senior executives who might help enhance a career.
_John Challenger is CEO of Challenger, Gray & Christmas Inc., global outplacement consultants based in Chicago. He is a columnist and author on career topics._