Economy vs. the Holiday Party

Ten ways to maximize your holiday party budget and turn it back into a company and employee benefit.

Every year it seems companies planning a holiday party teeter totter between the extravagant gala event and the Costco appetizers on a Friday afternoon in December. Employees know that this is a tough year and are also probably feeling the pinch personally. Additionally, the realities of layoffs and mandatory work furloughs make it difficult for companies to justify extravagant spending on a holiday party. But wait, what about morale and productivity? People that end the year on a high note tend to be even more driven and productive entering the following year.

This year it is more important than ever to help your team feel important and that your employees know that your company is committed to persevering through these tough times. Cosmopolitan Caterers has compiled this list of suggestions to help you create an event to achieve that goal:

• Maximize your budget without minimizing your event. Too often we instantly get discouraged when the budget won’t allow what we want. This year it is very important to maximize what we can get with our money without sacrificing the celebration of another year together.
• Consider the benefits, not just the cost. Having a party this year is especially important to boost morale. Make sure management realizes the productivity and morale benefits and the return on the party investment.
• Location, location, location. Be creative, gone is the day of flashy hotel parties. Look into local venues or even your own office. It is amazing what you can create for half of what a venue costs while transforming your office into an elegant gala worthy location.
• Negotiate. Vendors are hungry for your business and will be working within every budget.
• Identify needs versus wants. Make an actual list and be honest with yourself and the folks bidding on your party. Cut when necessary to maximize the overall event.
• Hire a full service company. Most caterers are also event planners. Use their expertise to help negotiate the rest of the vendors for you. Most of the time, this "one stop shop" approach can really save you money.
• Band, ipod, or DJ? Entertainment can be extravagant or frugal. Compare all of your options and decide if this is an area of major impact, or if an ipod with background music will suffice.
• Use your resources. Work with your vendors and take on certain elements within your firm. For example, if you want passed appetizers at your event, consider upper management or partners passing instead of hiring servers. The impact of the CEO passing appetizers to your team is marked and is a great way for him or her to personally thank each employee for his or her service to the company.
• Get creative, stylistically. With some simple décor and lighting, you can even turn your warehouse space into a fine venue. Consider themes other than the holiday itself to minimize and streamline décor cost. Buy and put up some of it yourself to show additional cost savings.
• Be honest about what you can spend. Don’t lead your potential vendors astray. Tell them your goals and your budget. Don’t waste their time or yours by not being up front about what you can afford.

With some uncertainty times ahead, it is in everyone’s best interest to look to the future with a sense of hopefulness. Taking a break from the stressful workday and seeing your coworkers in a social environment can help companies regain focus and remember what they are all here to do. Your company will grow and be stronger once again and this year’s party is one way to ensure a successful tomorrow.

- Joseph Schumaker
Director of Catering/Owner
Cosmopolitan Catering