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The Daily

Office Holiday Parties on the Decline

By:
Chris Gaetano
Published Date:
Dec 1, 2015
PartyThe annual office holiday party, once so common as to be cliche, has been on the decline over the past decade, according to an article in Bloomberg. While there are no doubt fond memories of off-key singing and ties that suddenly become headbands, it's been found that only about 65 percent are planning to have such a celebration this year, versus 83 percent in 1998. While the financial crisis certainly played a role (only 61 percent of companies have holiday parties in 2009), it seems that, more than budget considerations, it's simply starting to fall out of favor in workplaces. Not only are they expensive, but they can take time to coordinate and plan, and fewer people actually want to go to them in the first place, according to Bloomberg. Not seeing a good return on investment in this area, more companies, it seems, are simply deciding to opt out entirely.