After a rough spell corresponding with the recent economic recession, American companies are getting back into the festive spirit this year as they continue the tradition of throwing holiday parties, according to the latest survey of a cross-section of Corporate America conducted by global executive search firm Battalia Winston.
This year, 89 percent of the companies polled will have corporate holiday parties—an uptick from 85 percent in 2015 and 78 percent in 2014. The survey has historically served as an economic barometer—the number of companies having holiday parties hit an all-time high of 97 percent in 1996 and 1997, years when the economy was at its most robust. But holiday parties hit a (then) record low of 81 percent in 2008 and the nation continued to react to the Great Recession—the number of corporate parties planned spiraled to an all-time low of 74 percent just five years ago.
This year’s results show a much merrier turn of events, as the survey reveals even more positive data from the companies surveyed:
- 93 percent of respondents say that regardless of company revenue, their company’s holiday party would be the same as—or even better than—the previous year’s.
- 50 percent of executives surveyed say that the purpose of their party is to boost employee morale. Another 30 percent say it is to celebrate a successful 2016.
- Moving right along to next year, 64 percent of companies are on track to grow or stay the same in 2017.
- Charitable giving is still in flux as 67 percent of companies say they plan to give back, either by volunteering or by collecting donations. This is up slightly from 66 percent last year, but down sharply from 75 percent in 2014.
“Despite the uncertainty of the election, we are seeing that companies are showing continual growth and that they are wanting to celebrate that growth with their employees,” said Dale Winston, Battalia Winston’s chairwoman and CEO, in a news release.
A special question added to the 2016 survey indicated that the vast majority (98 percent) of company party planners did not take the election into consideration.
The 2016 Battalia Winston nationwide survey was conducted among a cross-section of 200 companies.
Source: PR Newswire; edited by Richard Carufel