HR Strange But True!
October 02, 2008

This year, you might not have to wonder what to wear to your company's holiday party--there may not be one!

Celebrations--or at least their degree of ambiance and haute cuisine--are predicted to be the next victims of the bad economy, according to a survey of corporate event planners by Agenda USA.

Fifty-two percent of respondents said their company was scaling back on the budget for the bash, while 7 percent indicated they were cancelling the event altogether.

"Professional event planners are used to pulling off great events that meet objectives and stay within budgets," says Agenda USA's Jim Alkon, but this year "lower spending levels and restrictive marching orders will require them to be more creative than ever."

Respondents expected the main adjustments to be made as: a more "cost-sensitive" menu (48 percent), a reduction in alcohol options (36 percent), less lavish decorations (32 percent), and a less expensive venue (29 percent).

Trendy sites such as mansions and museums may be too pricey this year, with restaurants (39 percent) and hotel space (30 percent) still in vogue.

And while corporate offices rated as respondents' least popular place to party, they may start to look less gloomy by December!

Source: Agenda USA

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