The Party Is On!

More companies are holding a holiday party this year, and their upping the expense, a survey found.

More than three-fourths of firms surveyed by Challenger, Gray & Christmas are having a holiday party this year, the highest percentage since 2016. Nearly 7% are doing so after one or more years of not having one.

This is despite the fact that only 40% say they feel the economy has improved over the last year, compared to 63% in 2018. Nearly one-quarter say they feel the economy has not improved.

Not only are more firms partying, but nearly 47% of companies will invite families and spouses, compared to 30% in 2018. And, 53% of companies are offering alcohol at the holiday party this year versus 49% last year.

The survey found more companies will hold holiday parties on a workday versus at night or on the weekend. Forty percent indicate their party will be held in the evening or on the weekend, compared to 45% last year. Sixty percent are holding their party during a workday or near the end of a workday, versus 51% last year.

The survey was conducted in November among 250 human resources representatives across the country.