OFFICE PARTY A CHORE: SURVEY
SURVEY results have shown more than 60 per cent of employees would prefer to scrap their work Christmas party in favour of receiving money.
According to the market research conducted by First Class Accounts, the survey also found 50 per cent of participants did not enjoy attending their workplace Christmas party, with a further 14 per cent admitting they did not attend at all.
Owner of First Class Accounts Victoria Park Stella Ting said the findings of the research suggested people were socially exhausted during the festive season, making a staff Christmas party feel like another chore.
“The lead-up to Christmas is a very busy time; many people have lots of social activities in the calendar,” Ms Ting said.
“Many business operators believe you must have a Christmas party for the sake of staff morale, but as our survey suggests, this is not necessarily the case.”
Business operators could consider alternatives such as bonuses, gifts or time off in lieu of an office Christmas party.
According to Ms Ting, one of the most taxefficient ways to spread Christmas cheer among the workforce was to provide staff with gift vouchers. “Gift vouchers are tax-deductible as long as they are under $300, and they give staff a degree of choice over how they spend their money,” she said.
“Despite good intentions, it’s easy to inadvertently get yourself in trouble if you’re not fully aware of the rules.
“It’s best to play it safe and talk to an expert like a bookkeeper or accountant first.”