Keeping costs down this Christmas

Nearly half of UK adults (40%) think that their financial situation will ruin Christmas this year.

And it’s really no surprise given that the price of just about everything, especially particularly food, energy, and fuel, has risen exponentially because of the cost-of-living crisis and the UK economy appears to be heading into a recession.

With Covid having halted festivities for the last couple of years, many of us were looking forward to letting our hair down this year, but now the economic landscape threatens to put a damper on things.

But do we really need to forego workplace celebrations and traditions such as decorating the office, Secret Santa, or Christmas parties for yet another year?

With more focus than ever on employee morale and retention, how can employers ensure workplaces are still able to celebrate this Christmas without spending a lot, ensuring that everyone feels able to participate, regardless of their financial situation?

Bertrand Stern-Gillet, CEO of Health Assured, shares his advice for keeping costs low but spirits high this December:

Gift swapping

The exchanging of gifts is a well-established tradition, but this year many people are cutting back, with three-quarters of us reportedly looking to spend less money on Christmas presents.

A great way to save money whilst still embracing the spirit of giving is to host an office Secret Santa – everyone is guaranteed a gift, yet each person only needs to buy one. Given that finances are squeezed right now, if you do host a gift swap it’s best to ensure that participation is totally optional and doesn’t cost a lot. Set the budget small, for example £5 or £10.

Christmas bonuses

Unless it’s written into the contract of employment, giving staff a Christmas bonus is entirely optional, although no one can deny that it’s a great way to show your staff how much you appreciate their hard work throughout the year. However, it’s important to remember that the cost-of-living crisis is affecting all of us from individuals to business owners. This is where thinking outside of the box comes in handy as rewards don’t always necessarily have to be in the form of cold, hard cash. How about running an incentive for an extra day off or introducing employee reward or benefit programmes? You could also have a lucky dip where employees choose a gift when they achieve something

Festive fits

Whilst Christmas jumper day is now a stalwart of most office calendars, bear in mind that those who do not already own a Christmas jumper may feel pressured to go out and buy one especially for the occasion. Why not make it a ‘festive fit’ day instead, so everyone can use their own interpretation of this and dress accordingly – whether that’s wearing something red, green, gold, glittery, sequined or anything else the employee deems festive. This is much more inclusive and reduces the need for any unnecessary purchases.

Christmas parties

We all enjoy a good party, but evenings out are a luxury many of us simply can’t afford right now. It’s a good idea if you’re in the position to, to fund the Christmas party for your team. If not in full, then in part. But if that’s not possible, to give all your employees the best chance of being able to celebrate, why not swap the costs of renting a venue, and instead hold a celebration within your workplace if safe to do so?