– Survey suggests that the “War for Talent” has returned with renewed focus on retention –
New York, NY – November 17, 2015 …everH According to an annual survey conducted by Battalia WinstoneverH, one of the nation’s leading executive search firms, 92% of businesses will be conducting some type of holiday celebration this year, up from 75% in 2014 and within reach of the near all-time high of 96% in 2013. This may be due to the fact that 89% of the respondents expect business to remain the same or grow in the upcoming year.
“The Battalia Winston survey has served as a bellwether for the economy over the past 27 years, so the fact that the percentage of companies having parties is up is a sign that the economy has stabilized and is poised to grow,” said Battalia Winston CEO, Dale Winston. “Despite the cheery outlook there is clearly an eye towards managing or containing costs. 96% of the companies that are having parties said that they will remain the same or be more modest.”
Another significant trend is that 70% of the firms polled indicated that they have initiatives planned to boost morale and employee engagement in 2016. This finding indicates that retention has become important again. The trend is noteworthy in that it suggests that the “war for talent” is back on. Team building and training was cited by 54% of the respondents while 40% planned on pay raises and 35% intend on offering flexible work schedules.
These are just a few of the findings of Battalia Winston’s Annual Survey on Corporate Holiday Celebrations, a nationwide survey conducted among a cross section of 118 companies.
Other interesting findings of this year’s survey:
2015 Planning: 50% of respondents said their company was on track to grow and hire with 40% remaining the same. Only a meager 7% of companies expect to consolidate.
What’s the reason this season? Over half, 52%, are having holiday parties to boost employee morale while 40%, are holding a party to celebrate 2015 as a good year and 8% to show employees and clients that they are optimistic about next year.
Corporate Gifting. 48% of respondents say they will provide a holiday gift to employees this year. 44% of those will be under $25 with the remainder 52% being over $50.
Where and When. Of those conducting holiday celebrations 50% will be at lunch and half in the evening with 23% at the office and 77% at a restaurant or hotel.
Do unto Others. 70% of companies will participate in charity efforts this year with most of those donating funds or goods and 10% donating time.
Steady on the Alcohol. 70% of the businesses surveyed indicated they will be serving alcohol at their holiday parties, a figure that has remained steady in recent years.
No Scrooge this Year. 60% of companies surveyed plan on pay raises or non-paid performance incentives.