New research has found that the old fashioned traditional office Christmas parties have been abandoned by most organisations this year.
Christmas Parties Cancelled
Several studies have found that most employers have opted against holding Christmas parties this year due to the coronavirus pandemic. In Wales, for example, research from the communications company, Moneypenny, found that 91% of employers had opted against holding a traditional office Christmas Party, although 20% said they would holding a virtual Christmas Party instead. Meanwhile, in London, 95% of traditional office Christmas Parties have been cancelled.
Employees Want Financial Rewards Instead
A poll of 1002 employees conducted by YouGov on behalf of Appreciate, home of Love2shop, found that just 24% of employees wanted a Christmas party this year. Moreover, given a choice between receiving a £50.00 bonus and having a Christmas party, 88% would opt to receive the £50.00. This result is hardly surprising, given that pay growth is at its slowest since 2009.
Interestingly, 34% of those working in the legal sector wanted a Christmas party, compared with the national average of just 24%.
The Director of Business Development at Appreciate Group, Frank Creighton, states in response to the survey that: "Company Christmas parties are looking unlikely this year and in the challenging economic climate it does not surprise us that 9-in-10 employees would rather have a £50 gift instead. The HMRC Trivial Benefit allowance enables such a £50 tax free gift to employees. In the current Covid environment, there is an opportunity for employers to spread a little festive joy and enjoy a tax benefit:, so this could be a win-win for both bosses and workers."
Creighton adds that: "This demand for financial incentives is reflected in our own business as companies look for different ways to say thank you to staff - since July we’ve seen a doubling in demand from companies wanting gift cards to reward their employees. Incentives such as cash or gift voucher reward are clearly more appealing since they give workers the freedom to spend as they wish and to treat themselves or loved ones."
Online Christmas Parties
If they hold Christmas parties at all this year, then most employers are looking to do so online. The international jobs outplacement firm, Challenger, Gray & Christmas, for example, found in a survey that whilst just 23% of employers were planning to hold Christmas parties this year, of that 23%, 75% were planning to hold them online.
James McAulay, the chief executive of Encore states: "Companies are keen to keep their workforces engaged and happy, especially during the winter months when we are locked down. Crucially, January is a time when many employees start to look for a new role, and so it's vital that companies keep their teams happy and cohesive in the run-up to Christmas."
