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2 minute read

Avoid breaking the bank with cheap holiday parties

Rich Coleman
by Rich Coleman
November 19, 2012
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Have you begun planning your office holiday party yet?

Thanksgiving is in just a few days and Christmas is practically a month away. If you or your employer is on the fence about throwing a holiday party, consider this: Holiday parties increase employee morale, give your staff a chance to bond, and can instill an overall sense of pride and dedication toward the company. Plus it’s also just nice to kick back, right?

But at the same time you don’t want to overdo it on the party expenses – especially if your company’s budget doesn’t take a holiday party into account.

Consider some of these frugal suggestions for a cheap holiday party without sacrificing any fun.

The venue

Some companies pay top dime to rent out banquet halls or large party rooms for restaurants. If your company falls into this category, think about booking your reservation for an odd time of day. Fridays and Saturdays will obviously cost the most and be in the highest demand. Save some money by reserving on a Tuesday afternoon and giving staff the rest of the day off.

Of course, a company can always save money by holding the party in the office. If this is the case, consider sprucing the place up a bit. Get some of your creative staffers to come up with a theme and run wild with decorations.

Better than the office, though, can be hosting an office party at the CEO’s house or another top exec’s home. It goes a long way in getting employees more comfortable with the boss while saving top dollar on venue rental expenses.

Food and drink

A fully stocked bar is nice but consider having one or two signature cocktails that utilize a few ingredients. This helps save money and is a nice alternative to just beer and wine. Having a BYOB option on top of that will keep the beer and wine snobs happy.

As for food, you can always spring for meat and cheese trays or other prepared food options, but you can stir excitement by having the party double as a potluck. You can even incorporate some competition into it – think chili cookoffs, best main course, best desserts, etc. Not only are you saving money but you’re getting your workers excited about showing off their skills.

What are some of your holiday party traditions? Share them with us in the comments below.

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Resourceful Finance Pro, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day's headlines, Resourceful Finance Pro delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.

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