Holiday Party Budgets Continue to Grow

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The percentage of employers hosting holiday parties has hovered just under the 75% mark for several years now and 2012 is no different. What we do see is a resurgence in terms of the total budget allocation for both holiday parties and employee gifts. After a sharp decline in 2009, employers have consistently reported that they are budgeting at least as much, if not more, for both of these line items.

Timothy Magaw of Crain’s Cleveland cited the ERC survey in this week’s issue of Crain’s noting, “Even at the recession's peak, the region's workplaces didn't altogether banish their holiday parties. But as the recession's grip loosened, these same companies appear to be spending more on their end-of-the-year blowouts.” More specifically the data shows that of those organizations that are spending more in 2012 to celebrate the season the average budget increase is 25%.


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