Bonus vs party | As the cost-of-living hits Christmas, here's what some firms are doing about it

The festive season is upon us, but for many workers facing the pinch of the rising cost-of-living, the usual holiday celebrations may take a back seat.

As inflation rates soar and the cost of essentials continues to remain high, companies are rethinking traditional office-wide Christmas parties, with some opting for alternative ways to support their staff during these financially challenging times.

Over half of businesses who are planning a Christmas, festive or end-of-year party are concerned about employees not being able to afford to attend due to cost -of-living constraints, according to research by employment law and HR consultancy firm, WorkNest.

This concern has driven 47% of businesses to ditch the Christmas party altogether, in leu of other more resourceful solutions.