Holiday Parties - Worth the Expense in Tough Times?

Its almost that time of year - not just gift giving for family and friends, but the holiday party circuit.

For many corporations and businesses, the holiday party, especially in our ever-changing economic times, may seem ostentatious, wasteful or useless.

According to a recent article in Business Week, although some may think the party isn't worth the effort, its a morale boost that the staff deserve.

A recent survey by the Human Resources Professionals Association (HRPA) found that the holiday party for 31 per cent of respondents won't be happening this year, but 81 per cent of Human Resource professionals believe its essential for keeping employees in a good frame of mind in the office.The HRPA suggests that for many offices, the cost is seen to outweigh any benefits - but its not just about being in the moment, its about recognizing employees worth.

According to HRPA's Claude Balthazard, the holidays are "...a key time for recognizing hard work" and "...its the thought that counts."

Tips for those who want to celebrate, but with the budget in mind:

1. Reconsider a live band and dinner and choose a venue for a cocktail party instead.

2. Reimagine the office environment - hold the party on-site and get the staff involved in a conference room transformation to a party room.

3. Downsize the guest list - consider making it employees only to encourage getting staff to know those they wouldn't work with on a daily basis.

4. Be inclusive - recognize employees who celebrate other holiday times and traditions and make any celebrations about winter and not just about Christmas or Hannukah.

5. Instead of a traditional party or Secret Santa, include the staff in a company volunteer program to donate toys for kids or provide supplies to the food bank.