So what can he or she present to do to reduce costs? Many options do exist, but when employees have grown accustomed to certain expectations, changes in the employee holiday party will have pros and cons. Consider the following ideas:
1. Schedule the Party During the Day.
As a general budgeting rule for business meals: lunch menus are always more cost effective than dinner menus from restaurants, hotel banquets or independent caterers.
For those organizations that typically hold employee holiday parties in the evening, changing to an afternoon event is one of the most cost effective ways to manage expenses. Estimated Savings: 15-20%.
Pros:
Eliminates the need to use personal time for a company event.Increases the number of venue options available to consider.
Reminds everyone that they are at a company event, not a personal party.
Cons:
Reduced attendance because many functions cannot fully shut down.
Noticeable change that tells employees the organization is cutting costs.
2. Control Decorating Expenses.
Hotels and other venues are usually already be decorated in neutral holiday themes. Still, some expenses are difficult to avoid: centerpieces, linen rentals, etc.
Planners must still incorporate decorations that are sensitive to the all guests. Try to save money by using complimentary linens, and opt to replace flower centerpieces with colorful candles and bowls of candy when possible. Estimated Savings: 10%.
Pros:
Subtle changes often go unrecognized by guests.
Holiday patterned linen rentals can be reduced using plain colors.
Planner may incorporate company themes to decorations.
Cons:
The wrong selection of linens may be viewed critically by guests.
Decoration expenses may be necessary to expand celebration themes.
3. Eliminate Employee Gifts at the Party.
Remember, the holiday party is considered the employee gift, so it is not necessary to include party favors and other small appreciation gifts.
Some organizations feel it is necessary to give each employee some small gift for attending the event because they feel it is an important element of the event. If the business insists on gifts, opt to raffle a few larger prizes or the centerpieces. Estimated Savings: $10 per person.
Pros:
This change often goes unnoticed.
Reduces set-up time needed to showcase presents.
Allows the planner to avoid other cost reductions (e.g., catering).
Cons:
Employees who cannot attend (e.g., due to work) will feel they received nothing.
Employee gifts can be perceived as another form of award.
4. Manage Catering Choices.
Small changes in the catering selections may be made that can result in measurable savings.
Examples: Plated vs. buffet style. Seven course meals may become five. Six passed canopies may be reduced to five, with a small decrease in total pieces. Filet mignon may be replaced with lamb chops. Crab legs are more cost effective than lobster tail. Three dessert choices may be reduced to two. Bar selections may be predetermined in advance. Estimated Savings: 5-10%.
Pros:
It is relatively easy to manage costs at the point of selecting catering.
Venues and caterers usually have packaged options based on price.
Cons:
Risk not pleasing everyone's taste preferences.
5. Hire a DJ Instead of a Band.
Band members typically get paid a minimum of $1200-1600 for a three hours, four performers. On the other hand, a DJ charges about half that price. Estimated Savings: 50%.
Pros:
Increased variety of music.
Reduced expense associated with entertainment.
Cons:
Risks allowing employees to request inappropriate music.
Risks associated with creating too much of a casual party atmosphere.
From Rob Hard,
http://eventplanning.about.com/od/eventplanningbasics/tp/reduce_holiday_party_expenses.htm
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