Christmas party costs more to the economy than the company

Posted on December 14^th 2009

The Christmas party is a time for all employees and employers to let their hair down and look back over the year as well as looking forward to the year ahead. Recent figures revealed that the Christmas party not only has a dramatic effect of the company's wallets but it also has a huge effect on the economy. The 'Morning After' report shows that the day after the company Christmas party, 2.31 million of us call in sick, either as a result of an excessive amount of drink or through injury. With this figure being so high it has been calculated that through this loss in productivity we are costing the British economy £216 million.

The figures go on to reveal how men are twice as likely to call in sick post party with an 88% higher chance, but perhaps the more enlightening statistic is that 67% of the workforce that call in sick are actually managers and directors.

With so much alcohol being consumed at these events it is likely that accidents will happen, so it is still important for a company to ensure public and employee liability insurance.

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