As various firms and industries face the effects of inflation and interest-rate hikes, many employers are taking a more muted approach to holiday parties and celebrations this year, writes Anne Marie Chaker for The Wall Street Journal. 

This is also due, in part, to many employees saying they won’t show up to any events outside of work hours.

According to a LinkedIn survey, 55% of more than 6,000 people polled said they weren’t planning to attend their company’s holiday party this year.

Another survey of employers shows that many workplace events are being held with scaled-back budgets.

Doug Quattrini, an event planner in Philadelphia, can attest to this.

He said that the work parties he’s booked this year have tended to be smaller in scale and take place at an executive’s home.

“It’s more upscale foods and lower quantities” of people, Quattrini said. 

However employers decide to conduct their holiday parties, and regardless of the way employees respond to it, one thing remains consistent. 

“It’s absolutely an investment,” said Will Brewer IV, senior associate at Brewer, Attorneys & Counselors in Dallas. “But it’s one that is worth it to reflect on everyone’s achievements.”

Read more about the new age of workplace holiday parties at The Wall Street Journal.

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