66% of firms to hold Christmas party

TWO out of three business are to give their workers a Christmas party this year despite companies cutting discretionary spending to keep costs down.

Of those companies not holding a party, 66% say they have no choice but to rein in spending.

The latest Close Business Barometer, a survey that canvasses the views of SME owner managers from a range of sectors on the issues that affect their business, shows that the majority of workers will get a christmas party.

Managing director of Close Brothers Commercial Finance in Ireland, Harry Parkinson, said: “Businesses here are experiencing some of the most trying economic times we’ve seen for many years. So it’s hardly surprising to learn that budgets for things like client entertaining and Christmas parties for staff have been axed.

“Perhaps more startling is that almost one in 1- businesses polled said that they will close down for a shorter time that usual over the festive period, with 60% saying they will close for two days less than usual, and a further 20% saying they will close for three days less than in previous years,” he said.

Of those who stated that they will stay open for longer than usual, a fifth said that they simply couldn’t afford to close for any longer than necessary.

“I think there’s a fear that customers may go elsewhere if you aren’t open,” said Mr Parkinson.

The Close Business Barometer also showed that 56% of businesses are worried about employee sick days in the run-up to Christmas. A further 35% stated that they have already reminded staff that unauthorised absence will result in disciplinary action.