Largest Decline Recorded in Corporate Holiday Parties, According to Amrop Battalia Winston’s 22nd Annual Survey

The Theme of the Party This Year? Modesty and Employees Only

New York, NY – November 15, 2010 – The worst holiday party slump in the past 22 years has been recorded in 2010, with only 79 percent of businesses conducting some type of holiday celebration, according to the annual survey conducted by Amrop Battalia WinstoneverH, a leading global executive search firm.  This is down from 81 percent in both 2009 and 2008, when the U.S. was in the midst of a recession – and previously represented the lowest number of companies holding holiday parties over the survey’s tenure.  For those companies holding celebrations just over a quarter (28 percent) say their parties will be more modest; this is on the heels of the nearly half (49 percent) who downsized in 2009.  When it comes to more expensive celebrations, 11 percent of respondents intend to hold more lavish parties, which is up from just one percent in 2009 and two percent in 2008. Leaving 61 percent who said their parties will be at the same level as past years.

Celebrations this year will not be for client or prospect schmoozing. Only five percent of those holding parties intend to invite clients and friends.  Over two-thirds (69 percent) will be “employee only,” and a quarter (26 percent) of organizations intend to invite employees and their families to gatherings. This is up from 2006, when only 52 percent of respondents held parties only for employees.

The primary reason cited by respondents not holding a holiday party is not related to budget concerns, but instead to their economic outlook.  Over half (55 percent) of respondents not having a party do not think it is appropriate in these economic times, compared to 27 percent who cite that a holiday party just is not within their budget.  Conversely, the majority (37 percent) of those having a holiday party cite “to celebrate we had a good 2010” as the primary reason, followed closely by “to boost employee morale” (33 percent) and “to show clients/employees that our company is optimistic about 2011” (29 percent).  This is in contrary to previous years; in 2005, 96 percent of companies had the party as a morale builder to staff.

“The Amrop Battalia Winston survey has served as a bellwether for the economy over the past 22 years, and this year is no exception. Between last year and this year; if parties become any more modest there will not be any parties; you can only downsize so far,” said Amrop Battalia Winston CEO, Dale Winston. “There remains a deep divide in organizations’ economic outlook and how they perceive their 2010 performance accordingly.  Fundamentally, those having holiday parties this year are much more optimistic about the year-ahead, while those not having parties are more pessimistic.  While we have seen the lowest number of holiday parties in the survey’s history this year, we anticipate that this is merely a ‘blip on the radar’ and there will be a stronger showing this time next year as the U.S. economy gets a stronger foothold in the recovery.”

These findings are from Amrop Battalia Winston’s Annual Survey on Corporate Holiday Celebrations, a cross-section of 103 of America’s leading businesses.  The telephone survey has served as an economic barometer for American businesses since 1989.  Other interesting findings from this year’s survey:

Charities lose out big this season: Company involvement in charity events (donating money, food, clothing, gifts and/or volunteering) will be down significantly this holiday season.  Less than half (47 percent) of companies will be donating to charities this year (down from 66 percent in 2009, and 74 percent in 2008).  Of those participating, the vast majority (79 percent) will be donating funds or items, while only 13 percent will be doing other charitable acts or volunteering time (8 percent).

Companies not skimping on cocktails: While the number of companies serving alcohol increased this year (79 percent), which is up from 73 percent in 2009 and 71 percent in 2008 – it is significantly below the survey high of 90 percent in 2000.

After hours parties increase in popularity: Of those conducting holiday celebrations, 57 percent will be evening affairs, compared to 43 percent taking place at a luncheon (compared to 53 percent and 47 percent respectively in 2009).

Getting out of the office: Over three-quarters (77 percent) of companies will be hosting their parties off-site (up from 67 percent last year) and the remaining 23 percent will be hosting their parties in-office.  Three-quarters (76 percent) of those companies holding a party “off-site” will be at a restaurant.

Increased focus on employee morale: The good news is that well over half (58 percent) of all respondents intend to take action to boost employee morale in 2011 – nearly double the number from 2009 (30 percent).   Of those that are planning to boost employee morale – the majority of companies polled (31 percent) intend to offer “pay raises,” followed by team building/training (19 percent) and flexible work schedules (18 percent).  Only 12 percent have nothing “specific” planned.

2011 planning: As companies make plans for 2011, over half (55 percent) of respondents say they are on track to “grow and hire” next year, and nearly one-third (32 percent) expect their company’s performance will stay the same as 2010. Only 13 percent ‘plan to consolidate’ or don’t anticipate that they will perform as well as this year.

About Amrop Battalia Winston

Amrop Battalia Winston , the U.S. member firm of the Amrop group, has been successfully meeting client needs in executive recruitment for over 45 years and is currently ranked as one of the 12 largest executive search firms in the USA.  Headquartered in New York, Amrop Battalia Winston also has offices in New Jersey, Boston, Washington, D.C., Chicago and Silicon Valley.  The firm offers a global presence through its membership in Amrop, the largest network of independent search firms in the world with a search force of over 307 senior consultants based in 90 offices over five continents and 55 countries.

Provident Financial Services, Inc. and The Provident Bank Name Terence Gallagher to the Boards of Directors

JERSEY CITY, NJ, September 24, 2010/PRNewswire-FirstCall/– Provident Financial Services, Inc. (NYSE: PFS) (the “Company”) today announced that Terence Gallagher has been named to the Boards of Directors of the Company and its wholly owned subsidiary, The Provident Bank.

Terence Gallagher is the president of Amrop Battalia Winston, a national executive search firm, and has served in that capacity since 1997.  Mr. Gallagher was recognized by BusinessWeek as one of the World’s Most Influential Executive Search Professionals. In the course of his executive search career of more than 25 years, Mr. Gallagher has also served as Northeast Region Search Partner and National High Technology Industry Search Partner at KPMG LLP.

Mr. Gallagher is a graduate of Duquesne University with a bachelor’s degree in accounting.  He has served on the Americas Board for the Association of Executive Search Consulting Firms and on the Advisory Committee for the National Association of Corporate Directors New Jersey Chapter.

“We are very pleased to have Terry Gallagher join our boards,” said Christopher Martin, the Company’s chairman, president and chief executive officer. “Terry is an experienced business leader who will be a valuable addition.”

Provident Financial Services, Inc., which reported assets of $6.82 billion as of June 30, 2010, is the holding company for The Provident Bank.  Founded in 1839, the bank has more than 80 full service branches throughout northern and central New Jersey.

This news release may contain a number of forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, including, but not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made. You may access the filings and other financial and business information regarding the Company at

SOURCE Provident Financial Services, Inc.

About Amrop Battalia Winston
Amrop Battalia Winston (ABW) is widely recognized as one of the top twelve retained executive search firms, both nationally and globally. Currently in its 47th year of business, with offices in New York, New Jersey, Boston, Washington, D.C., Chicago, and Silicon Valley, ABW is noted for servicing the needs of public and privately held companies, from start-up organizations to members of the Fortune 10, including not-for-profit organizations.

ABW Financial Services Partner Serves as Master of Ceremonies for Rocktoberfest

New York, October 5, 2010 – Frank Carr, a Partner in the Firm’s Financial Services Practice, will serve as Master of Ceremonies at the seventh annual Hedge Fund Rocktoberfest, a benefit concert featuring bands with musicians from the Hedge Fund industry.  The event benefits A Leg To Stand On (ALTSO), a non-profit organization which provides free corrective surgery, prosthetic devices, and rehabilitative care to children with limb disabilities in the developing world.  The organization, which was founded by C. Mead Welles, President and CEO of Octagon Asset Management, LLC, and Dinesh Patel, M.D., Chief of Arthroscopic Surgery at Massachusetts General Hospital, has given the gift of mobility to more than 5000 children since its founding in 2002.

The annual Hedge Fund Rocktoberfest concert brings out Wall Street’s finest and allows them to rock out for a great cause.  Last year’s concert drew an audience of over 1,200 people and raised more than $200,000 for the charity. Frank, who is an avid bass guitarist, has served as Master of Ceremonies for five consecutive years and is looking forward to taking the stage again on October 21st.

“The charity rock concert approach has been a big success and I am honored to once again serve as Master of Ceremonies,” said Frank. “Mead Welles and the staff at A Leg to Stand On have done a phenomenal job on their mission to improve the lives of children with limb disabilities.  It gives me great pleasure to join the group once again for such a worthy cause.”

Frank Carr has placed senior executives in the areas of Portfolio Management; Asset Gathering and Retention; and Investment Operations and Administration. His clients range from hedge fund managers and fund of funds organizations to institutional money managers and insurance companies. Frank has authored several articles for investment industry publications such as the MFA Reporter, and Reuters HedgeWorld, and has been a speaker at numerous investment industry conferences and events.

About Amrop Battalia Winston

Amrop Battalia Winston (ABW) is widely recognized as one of the top twelve retained executive search firms, both nationally and globally. Currently in its 47th year of business, with offices in New York, New Jersey, Boston, Washington, D.C., Chicago, and Silicon Valley, ABW is noted for servicing the needs of public and privately held companies, from start-up organizations to members of the Fortune 10, including not-for-profit organizations.

Wisdom of Wizards: Insights From Leading Consultants

Terry Gallagher, President of Amrop Battalia Winston and The America’s Practice Leader for the Professional Services Industry Practice was interviewed and quoted several times in the newly released book on Management Consulting, Wisdom of Wizards: Insights From Leading Consultants. He was amongst the 33 senior executives in the Management Consulting Profession who were interviewed by the authors, Richard and Jon Metzler. Senior Executives were asked about how they started their career in Management Consulting, what it takes to succeed in consulting, best practices in managing client relationships, major client meetings and milestones in their careers, ethics and global consulting projects.

Testimonials regarding the context of this book from luminaries in the consulting profession include:

“An unbeatable collection of insights and lessons from the Wizards of the profession.” – David Maister, Consultant and Prolific Author of the Management Consulting Industry.

“If you are an aspiring consultant, a consulting practitioner or a purchaser of consulting services, you will want to read this always informative, mostly unvarnished and occasionally amusing insiders’ view of the multi- billion dollar consulting profession. – Carl Sloane, Professor of Business Administration, Emeritus, Harvard Business School

“The anecdotes and stories from some of the great luminaries of the consulting industry contained in this book are not only insightful but entertaining as well. Whether you are a consultant, or work closely with consultants, you’ll find something on every page that informs and deepens your understanding of why this is such a fulfilling profession.” – John F. Furth, President and CEO of Association of Management Consulting Firms

All proceeds from the purchase of this book help fund the Richard Metzler Scholarships awarded annually by the Foundation for Excellence in Management Consulting, in affiliation with the Association of Management Consulting Firms. Additional information about Wisdom of Wizards is available online at

PR Newswire

Kahlua(R) Bails Out the Office Holiday Party
Save the Holiday Party Initiative Gives Businesses the Opportunity to Preserve an Endangered Tradition
By: PR Newswire

WHITE PLAINS, N.Y., — In a holiday season where bows and ribbons have been replaced with bailouts and rescues, American businesses are reconsidering an honored tradition: the office holiday party. A recent survey …

Terence Gallagher – Guest Lecturer at The Business School at Duquesne University

Terence Gallagher was invited by Alan Miciak, Dean of the Business School at Duquesne University to be a guest lecturer to the graduating class of 2010 for the SMBA (Sustainability MBA) class on May 23, 2010 in Pittsburgh, Pennsylvania. Terry conducted a 1 day program focusing on effective resume writing, best practices for interviewing and customized career search strategies. He also addressed personal questions from the students regarding troubleshooting challenges and issues they were facing regarding these topics.

Terry was invited to attend the Sustainability Breakfast Reception at the Rivers Club hosted by Duquesne University’s Palumbo-Danahue School of Business and met with Corporate Sustainability executives of the 24 organizations that have utilized the SMBA students for value add sustainability consulting projects including Alcoa, CNX Corporation, Bayer Material Science, Highmark, PPG Industries, PNC Bank and Westinghouse Nuclear.

Terry commented, “The value add of the SMBA program is evidenced by the significant consulting projects that were completed for 24 organizations that positively impacted their profitability, their environment and enhanced the local community and corporate brand.”

“In my discussions with local Fortune 500 Corporate Sustainability Officers at the reception and the Duquesne SMBA program leaders it is apparent that the success of the SMBA consulting projects have laid the groundwork for more near term, higher impact sustainability projects,” added Gallagher

Gallagher summed up this event by stating, “The Green Initiative has been in the press and politics for 5 years but now global corporations are dedicating more human capital and financial resources to this area because CEO’s clearly see its positive impact on building shareholder value through increased profitability as well as enhancing their brand, by being more socially responsible corporate citizens and improving the environment.”

Going From Contract to Full Time Employee


Q: I have been under contract with a company for two months. This past week, I received a strong indication I was going to be offered a full time position very soon. How much, if any, leverage do I have in negotiating the best offer possible?

A: So far, so good. You’re one step ahead of all the other unemployed workers because you are already in the door, have completed some assignments and have proven yourself valuable. “They know your work and they like you,” says Jo Bennett, an executive recruiter with Battalia-Winston. That’s the good news.

But, there’s a downside. There are thousands of professionals “right behind you to jump at the opportunity to take your full time position if you were to decline or make it too expensive for your employer to hire you,” says Paul Gavejian, managing director at Total Compensation Solutions, LLC.

As an incoming employee, you can negotiate a few elements of the offer including the salary, bonus, time off, and other benefits. Let’s start with the base salary. “Their base salary offer is dependent on two things: your current pay and what they’re willing to pay for the job,” says Mr. Gavejian. “It would seem that they should offer your contract rate adjusted for benefits, federal and state withholdings.” But keep in mind that, in many cases, companies are limited by the description of the job or salary band the position falls under.

Try to find out what the typical salary range is before going into the negotiation. You should also ask about the market rate for this position—what’s the the typical salary range for the composite of responsibilities for the job itself, not just the title. Ask professionals in similar positions or hiring managers who are familiar with the same sort of job. “They will know the value of this job in the external market and they should at least tell you what that is within a range,” says Mr. Gavejian.

Once you arm yourself with this information, you will be better able to negotiate a fair rate for your position. Say you find out your position is worth $90,000 a year but are $75,000. In that case, you’ll be able to discuss what you know. If they can’t meet the salary now, you can discuss a six month review or other benefits to bring you up to market rate.

Bonuses can be another way to make up a gap in your expectations and the company’s offer. Bonuses are usually expressed as a percent of base salary (e.g., 10% for professional positions up to 100% for some managerial positions). You might want to request a guaranteed bonus or even a higher bonus percent in lieu of a higher salary offer. For example, the company might want to give you lower salary but a higher bonus so they reduce the fixed costs of your overall pay package, says Mr. Gavejian. To that end, a higher bonus gives you a chance to control your total cash compensation and allows the company to control other costs.

If the company is inflexible on salary and bonus, try to negotiate other perks, like extra vacation time, a commuting allowance, flextime or the ability to work remotely some days.

And remember, in any negotiation, try to be reasonable and make sure that your needs and interests don’t conflict with the potential employer’s. In other words, don’t ask for a work day at home if face time and team meetings are important for your job.

Write to Career Q&A at Be sure to put Career Q&A in the subject line of your email.

Job Hunters, Look Before You Move

Americans have been casting a wider geographic net when looking for work in today’s tough job market. And even as a recovery materializes, it’s possible that more of them will consider moving for a paycheck.

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