Companies not hiring but still in party mood

Despite a still sluggish economy, 70 percent of companies will hold holiday parties for their employees this year, according to a survey by outplacement consultancy firm Challenger, Gray & Christmas.

“The economy is not improving as fast as many had hoped. While some companies are seeing improvements, most are still stuck in first gear and continue to hold off on hiring, equipment upgrades and other big expenditures. Yet, despite the less-than-celebratory business conditions, the majority of companies refuse to abandon the year-end holiday party,” CEO John A. Challenger said in a news release.

Is your company still in a party mood?

Other tidbits from the Challenger survey:

95 percent of companies holding parties won’t spend more than they did for last year’s holiday party.

55 percent are holding the party during the workday or near the end of the day.

60 percent are limiting parties to employees – no spouses or significant others.

Ever the buzz killer, John Challenger offers this cautionary note for employees: “For workers whose companies are holding parties this year, particularly those where alcohol is available, it is important to remember that there is a fine line between having fun and having too much fun. The economic recovery is still very fragile, so it is not the time to draw attention to oneself with embarrassing conduct at the holiday party.”

Challenger press release: Majority of companies planning parties