While most attend their company-sponsored holiday party, TriNet survey finds many prefer cash bonus
SAN LEANDRO, CA -- (Marketwired) -- 12/08/16 -- With the holiday season approaching, a survey released by TriNet (NYSE: TNET), a leading cloud-based provider of HR services, reveals how employees at small and midsize businesses (SMBs) feel about their company-sponsored holiday party1.
The survey gauged enthusiasm levels for this holiday tradition. The overall sentiment was positive with people saying they attend, look forward to, and enjoy the company holiday party. However, many prefer a cash bonus or office closure during the holidays. Companies who had between 26-100 employees were more likely to host holiday parties compared to those with less than 26, or over 100 workers.
Most employees plan to attend the office party
A majority (65%) of employees plan to attend their office party, 22% percent said they were not sure and only 13% percent won't go. Overall, 36% stated they are required or strongly encouraged to attend, while 48% consider attending their choice.
Workers are generally excited about this tradition
Asked how they feel about the tradition of holiday parties, 37% said they were somewhat excited while 28% said they were very excited. Only 5% of the respondents showed no enthusiasm.
What's hot and what's not at the party
From connecting with co-workers, food and drinks to valuable face-to-face time with executives: employees listed many reasons for finding value in the experience. Top reasons people enjoyed their office party last year were:
50% connected with coworkers
46% enjoyed free food and alcohol
35% enjoyed their experience and look forward to this year's party
21% gained valuable face-to-face time with executives
21% could bring families to the party
Majority would trade the party for cash
Despite these many benefits of a holiday party, a large majority indicated they would trade it in for other perks. A cash bonus was preferred by 73%, while 51% would favor office closure during the week between Christmas and New Year's Day. Only 20% would still prefer the holiday party.
Jacqueline Breslin, Director, Human Capital Services, TriNet
"While the holiday season is considered a time for family and friends, it is also a good time to connect with your work family. A holiday party can be a great place to do that. It can be extremely rewarding for the whole team to come together and celebrate their collective achievements over the past year. This is also an excellent opportunity for business leaders to recognize employees for the hard work and dedication they have provided all year. We are happy to see TriNet client companies boost employee morale and engagement with this fun event."
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TriNet is a leading provider of a comprehensive human resources solution for small to midsize businesses (SMBs). We enhance business productivity by enabling our clients to outsource their human resources, or HR, function to one strategic partner and allowing them to focus on operating and growing their core businesses. Our HR solution includes services such as payroll processing, human capital consulting, employment law compliance and employee benefits, including health insurance, retirement plans and workers compensation insurance. Our services are delivered by our expert team of HR professionals and enabled by our proprietary, cloud-based technology platform, which allows our clients and their employees to efficiently conduct their HR transactions anytime and anywhere. For more information, please visit http://www.trinet.com.
TriNet, Ambitions Realized and the TriNet logo are registered trademarks of TriNet. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.
(1) Survey conducted by TriNet between Nov. 21-28, 2016, with 4,115 people responding. Respondents are employees of over 900 TriNet client companies.
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