According to a new survey by HR consulting firm Hewitt Associates,
almost three-quarters (74 percent) of employers are planning to host a
party for employees this holiday season. Twenty-seven percent of these
employers plan to spend $5,000 or less on their parties, 30 percent
will pay between $5,000 and $20,000, and 15 percent will spend between
$20,000 and $30,000. The median amount companies will pay for a holiday
party is $15,000. Among employers that are not planning parties, 7
percent said they’ll direct some or all of the money they would have
spent on a holiday party to charity.
Despite the popularity of
holiday parties, holiday bonuses for employees aren’t on the radar this
year for the majority of employers. The survey found that just 41
percent of companies will offer a holiday bonus program in 2005. Nearly
half (44 percent) of these companies will give employees a gift of food
(such as turkey or ham), 37 percent will provide retailer gift
certificates, and 13 percent will award cash.
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